Picanol’s turnover grew 27 per cent in the first half of 2016 compared to the first half of 2015. The balance sheet increased by 11 per cent from December 31, 2015, to June 30, 2016. Picanol makes high tech weaving machines, based on the airjet or rapier technology. The turnover of the industries division increased 19 per cent in the first half of 2016 compared to the same period in 2015. Thanks to continued cost-control combined with improved productivity, the industries division achieved an operating result of 8.9 million euros compared to 4.9 million euros in the first half of 2015.

Moreover, the industries division realized a turnover increase of seven per cent to other customers with a strong focus on castings and machining (Proferro) and its controller capacities (PsiControl) to attract new projects.

During the first half of 2016, Proferro was able to further expand its customer portfolio, both in terms of casting and in the finishing of castings. PsiControl achieved further growth with existing customers and also undertook a number of new customer projects, including projects in the engineering industry and in healthcare. The turnover of the weaving machines division grew by 30.4 per cent due to the increasing demand for quality and technology and backed by the favorable exchange rate of the euro.