Business
The H&M group’s sales development in the first quarter 2023
Net sales increased by 12 percent to SEK 54,872* m (49,166) in the first quarter, i.e., in the period 1 December 2022 – 28 February 2023, compared with the corresponding period last year.
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China has always been an important market for the Trützschler Group. The company built its first factory in the country in 2001. Now, Trützschler is further expanding its business in China to embrace the dynamic development of China’s nonwovens market.
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“2023 will be a transition year to build the base for 2024 and 2025,” said Bjørn Gulden, CEO of adidas. “We need to reduce inventories and lower discounts. We can then start to build a profitable business again in 2024. adidas has all the ingredients to be successful."
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The Lenzing Group, a world-leading provider of specialty fibers for the textile and nonwoven industries, was increasingly affected by extreme developments on the global energy and raw material markets in the 2022 financial year, in tandem with most of manufacturing industry in Europe. The market environment also deteriorated significantly in the third and fourth quarters, while worsening consumer sentiment placed an additional burden on Lenzing’s business growth.
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Kontoor Brands, Inc. (NYSE: KTB), a global lifestyle apparel company, with a portfolio led by two of the world’s most iconic consumer brands, Wrangler® and Lee®, today reported financial results for its fourth quarter and full year ended December 31, 2022.
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Clariant presents Integrated Report 2022
Clariant, a focused, sustainable, and innovative specialty chemical company, today published its Integrated Report 2022, which presents a transparent and concise account of the company’s financial and non-financial business activities for the year.
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Rieter reports record sales - 2022 figures available
The 2022 financial year was characterized by record sales of CHF 1 510.9 million and enormous challenges in their realization. Geopolitical uncertainties, the rapid rise in inflation, and additional development expenditure to compensate for material bottlenecks, weighed heavily on earnings. Higher expenses were also incurred in connection with the acquired businesses. Despite the exceptionally challenging environment, Rieter generated an EBIT margin of 2.1%. Implementation of the measures already initiated to improve profitability is continuing.
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Business
ANDRITZ with record figures for 2022
Technology Group ANDRITZ achieved in 2022 the best figures in its history for order intake, revenue, and operating result (EBITA). ANDRITZ started the new business year with a record order backlog of around ten billion EUR. Together with strict cost and project management and the successful turnaround in the Metals business area with the German Schuler Group, that order backlog will form the basis for further growth and profitability increases in 2023.
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VF Corporation closes second €500 Million green bond to support key sustainability initiatives
VF Corporation (NYSE: VFC), a global leader in branded lifestyle apparel, footwear and accessories, announced the closing of a €500 million green bond offering, representing its second green bond issued; the inaugural green bond was issued in 2020. An amount equivalent to the net proceeds from the offering has been dedicated to advance programs within the company’s Sustainability & Responsibility strategy and drive progress toward achievement of its science-based targets (SBTs).
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Covestro reports loss on record sales in 2022
Fiscal 2022 was impacted by global challenges that had significant and perceptible effects on Covestro’s business performance. In particular, the sharp rise in energy and raw material prices during the year, especially in Europe, put a strain on the company. This was compounded by continuing adverse effects caused by the coronavirus pandemic in China, high inflation and an overall slowdown in global economic growth.
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Glatfelder with significantly increased sales but losses
Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, today reported financial results for the fourth quarter and full year of 2022, and provided an update on the Company's turnaround strategy to drive operational and financial improvements despite continued inflationary and energy price headwinds.
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Renewcell publishes annual report
Renewcell has announced its financial results for Q4 and the full financial year 2022, once again describing the company's diverse activities and progress. CEO Patrik Lundström also gave a short outlook for the future in a longer commentary.
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adidas provides top- and bottom-line outlook for 2023
adidas today published its financial guidance for 2023. While the company continues to review future options for the utilization of its Yeezy inventory, this guidance already accounts for the significant adverse impact from not selling the existing stock. This would lower revenues by around € 1.2 billion and operating profit by around € 500 million this year. Against this background, adidas expects currency-neutral sales to decline at a high-single-digit rate in 2023. The company’s underlying operating profit is projected to be around the break-even level.
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