Picanol, the leading manufacturer of weaving machines for technical textiles saw a fall in turnover for 2014 by 25 per cent compared to 2013. The weaving machine division made a hesitant start in 2014 based on a weak order book at the end of 2013. The first half of the year was characterised by lower demand for weaving machines worldwide. This resulted in a sharp decline in orders compared to the record year of 2013. The demand for Picanol weaving machines increased in the fourth quarter of 2014.
The gross profit of the Picanol group for 2014 financial year was €86.4 million compared to €137.4 million in 2013. The gross profit percentage decreased from 24.5 per cent to 20.7 per cent. The operating result decreased by 47 per cent. The group closed 2014 with a net profit of €52.4 million compared to a net profit of €73.1 million in 2013.
For the first half of 2015, Picanol expects to realise an increase in turnover. This is anticipated to be between the turnover recorded during the first half of 2013 and the turnover of the first half of 2014. Picanol anticipates the global market for weaving machines in 2015 will remain at approximately at the same level as that of 2014.
