Itema, the largest privately-owned manufacturer of best-in-class weaving machines, spare parts and integrated services, for the first half of 2015 reported robust growth of a CAGR of 13 per cent. The company released the financial results with official launch of its new terry weaving machine, the R9500terry as well as a new training centre, Itema Campus.
“These are exciting times for us at Itema,” said Carlo Rogora, CEO of Itema Group, adding, “Our company’s fundamentals are solid. Our manufacturing facilities are top-notch. We have never been more committed to provide the best possible technology to fulfil our customers’ needs.”
In the first six months of the year, Itema sold 17 per cent more weaving machines compared to same period last year, increasing the group turnover from weaving machines by 24 per cent, and the consolidated turnover including spare parts and other company transactions by 20 per cent year-on-year. Since 2012, the company has continuously grown, more than doubling the volumes of textile machines sold worldwide.
Both EBITDA and EBT increased more than 20 per cent year on year and seamless cash flow production too increased, month after month. The newly launched R9500terry loom was presented in a series of events in July and September with a punchline ‘Weaving terry like never before’, to a select panel of worldwide customers.
On the occasion of the R9500terry launch, the company also opened doors of ‘ItemaCampus’, the new, next-generation training centre. The new and enhanced facilities will help, as the company prepares to take bookings for customers before, during and after ITMA, taking place in Milan from November 12 to 19, 2015. At ITMA, the company will showcase some of its latest rapier and airjet models in a wide range of weaving applications.
“We have high hopes for the upcoming ITMA and beyond, but, even if the order portfolio is still quite robust, the outlook for the remainder of the year remains uncertain. Along with the continuing and in some cases worsening, political instabilities in some areas, recent economic struggles in China caused significant changes in our customers’ attitude in investments,” added Rogora.
www.itemagroup.com
