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Picanol’s turnover up eight per cent in 2017, expect positive growth ahead

In 2017, Picanol’s turnover increased eight per cent compared to 2016. The group closed 2017 with a net profit of €101.71 million compared to €119.72 million in 2016. In 2017, the weaving machines division experienced a record breaking year. Rising demand for quality and technology resulted in strong sales – mainly in Asia – and this led to further market share growth in many countries and weaving market segments. This resulted in Picanol’s putting a record number of weaving machines on the market in 2017. Sales of spare parts and accessories followed the positive trend of the weaving machines.

The industries division also showed a strong sales growth in various market segments while making an increasing contribution to the group’s turnover. On the other hand, rising material prices and a higher share of subcontracting versus own production had an adverse effect on the result.

For the first six months of 2018, the order book is well-filled. For the first half of 2018, Picanol expects to realize a turnover in line with that of the first half of 2017, but is taking into account a further negative impact of rising commodity prices.