#Recycling / Circular Economy

2022-04-28

Unifi announces third quarter fiscal 2022 results, consistent with expectations

Unifi, Inc. (NYSE: UFI), makers of REPREVE® and one of the world’s leading innovators in recycled and synthetic yarns, today released operating results for the third fiscal quarter ended March 27, 2022.

Third Quarter Fiscal 2022 Overview

• Net sales were $200.8 million, an increase of 12.3% from the third quarter of fiscal 2021.

• Revenues from REPREVE® Fiber products represented 36% of net sales, compared to 34% in the third quarter of fiscal 2021. Similarly, REPREVE® Fiber products comprised 38% of year-to-date net sales, compared to 36% for the same year-to-date period of fiscal 2021.

• Gross profit was $19.1 million compared to $25.6 million for the third quarter of fiscal 2021. Gross margin was 9.5% compared to 14.3% for the third quarter of fiscal 2021.

• Operating income was $5.8 million compared to $8.6 million for the third quarter of fiscal 2021.

• Net income was $2.1 million, or $0.11 diluted earnings per share (“EPS”), compared to net income of $4.8 million, or $0.25 diluted EPS for the third quarter of fiscal 2021. Adjusted EPS1 was $0.14 and excludes the revision of an estimate for recovering non-income taxes in Brazil, compared to $0.25 for the third quarter of fiscal 2021.

• Adjusted EBITDA1 was $12.2 million compared to $15.9 million for the third quarter of fiscal 2021.

• The Company repurchased 50,000 shares of its common stock for $1.0 million during the third quarter of fiscal 2022 under a previously announced program. During fiscal 2022, the Company has repurchased 101,500 shares of its common stock for $2.2 million.

1 Adjusted EPS, Adjusted EBITDA and Net Debt are non-GAAP financial measures. The schedules included in this press release reconcile each non-GAAP financial measure to its most directly comparable GAAP financial measure.

Eddie Ingle, Chief Executive Officer of Unifi, said, “Our third quarter fiscal 2022 results were consistent with our expectations, with REPREVE® Fiber products comprising 36% of consolidated sales. This marks our second consecutive quarter of over $200.0 million in sales. We implemented further selling price adjustments and demonstrated solid progress against the difficult U.S. labor environment, exhibiting a definitive improvement in our Polyester and Nylon Segments’ gross margins since the December 2021 quarter.”

Ingle continued, “We are pleased with the gross margin improvement and we expect to continue making progress in the quarters ahead. Although we are carrying significant momentum into the fourth quarter, the lockdowns in China will adversely impact our overall profitability. Fortunately, we expect our constant pursuit of innovation and sustainability, combined with our regional competitive advantages, to help offset the temporary shortfall in China and continue to drive long-term growth for Unifi.”

textile.4U publishes special edition “Top 100 Textile Recycling Companies 2025”

With a comprehensive 176-page special edition, textile.4U is dedicating its latest issue entirely to one of the most dynamic and influential topics in today’s textile industry: textile recycling. The new issue, published exclusively in high-quality print, presents the Top 100 textile recycling companies researched and selected by TexData – organizations that already play a key role in the transition to circular textiles or are expected to have a significant impact in the near future.

Responsible Textile Recovery Act of 2024 signed by Governor

Senator Josh Newman (D-Fullerton) is proud to announce that Senate Bill 707 (SB 707), the Responsible Textile Recovery Act of 2024, has been signed into law by the Governor of California, Gavin Newsom. This groundbreaking legislation establishes the country’s first Extended Producer Responsibility (EPR) textile recycling program, marking a significant step forward in the state’s efforts to combat waste and promote sustainability.

Modtissimo promotes sustainability with 28 coordinates in the Green Circle

Modtissimo is proving more and more to be a textile and clothing show that delivers the latest innovations in the area of sustainability, with the iTechStyle Green Circle being the main showcase for companies' creations. In this 60+4 edition, taking place on 12 and 13 September, 28 coordinates will be exhibited in a section organised by CITEVE and curated by Paulo Gomes.

The EU and Egypt team up to mobilise private sector investments at Investment Conference and sign a Memorandum of Understanding underpinning €1 billion in macro-financial assistance for Egypt

At the EU-Egypt Investment Conference, co-organised by the EU and the Government of Egypt on 29-30 June, the EU and Egypt are teaming up to intensify private sector investments in Egypt. They are also signing a Memorandum of Understanding (MoU) for the disbursement to Egypt of up to €1 billion in Macro-Financial Assistance.

How innovations drive BASF’s success

“Innovation has always been part of BASF’s DNA. Especially in these volatile times, it is crucial to leverage our innovative strength to develop competitive solutions that differentiate us as a company in our markets and give us a competitive edge,” said Dr. Stephan Kothrade, Member of the Board of Executive Directors of BASF and Chief Technology Officer, at the company’s Research Press Briefing held today. To achieve this, BASF implemented its “Winning Ways” strategy about a year ago with the clear goal of becoming the preferred chemical company to enable its customers’ green transformation.

Textiles Recycling Expo announces collaboration with Future Fabrics Expo for 2026

The Textiles Recycling Expo has entered a major new collaboration with the Future Fabrics Expo which means that both events will run alongside each other at the Brussels Expo, Belgium on 24–25 June 2026. This co-location marks a significant step forward for the textile and fashion industries, bringing together two influential and complementary events under one roof.

January 2026 marks Asahi Kasei’s restart of Bemberg production in restored sections of the Nobeoka facility

Beginning January 2026, production at the Asahi Kasei Nobeoka facility – Bemberg’s only production site – will gradually resume, marking a new chapter following the partial shutdown caused by the April 2022 incident. This progress is the result of significant investments and continuous work toreinforce safety measures, restore full operational capacity, and establish long- term stability.

Stefan Moll becomes new CEO of the machinery manufacturer

Starting January 1, 2026, Stefan Moll will take over the management of Mahlo GmbH + Co. KG, the world’s leading provider of measurement and control technology for web-shaped materials. With this move, Mahlo is focusing on the long-term safeguarding of its market position and technological leadership. The current CEO, Rainer Mestermann, will leave the company after 14 years as part of a planned succession arrangement.

Barmag's new texturing machine impresses the market

Since its premiere at ITMA Asia + CITME 2025, the eFK EvoSmart texturing machine has achieved impressive market success. The innovative technology is winning over yarn manufacturers worldwide who are committed to energy-efficient and economical production processes. A total of 84 machines has already been sold – including in China, Turkey, and Indonesia – a clear sign of the industry's confidence in this forward-looking solution.