Picanol, a leader in airjet and rapier weaving machines, has put a record number of weaving machines on the market in 2017. “The 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,” the company said in its annual statement.

The company also achieved a consolidated turnover of EUR 688.93 million in 2017, which represented an increase in turnover of 8% compared to the EUR 639.78 million in 2016, which was the best year in the history of the Picanol Group.

In 2017, the company reported a net profit of EUR 91.64 million compared to EUR 88.38 million in 2016. In addition, Tessenderlo Group nv made a positive contribution to the net profit of EUR 10.07 million in 2017, compared to EUR 31.34 million in 2016. As a result, the group closed 2017 with a net profit of EUR 101.71 million, compared to EUR 119.72 million in 2016.

Other activities

The Industries division (Proferro, PsiControl and Melotte) also showed 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. Within Industries, Proferro continues to modernise its machine park, in order to increase profitability and production capacity.

Beyond Industry 4.0

“Currently, the Picanol Group operates in a constantly changing world of ever-increasing complexity and this creates many challenges,” the company reports. In addition to automation, product development, innovation and quality – of both products and services – agility, teamwork and, above all, smart responses to new technological challenges will be the keys to becoming and remaining successful in the future. The Picanol Group firmly believes in the further growth of its manufacturing industry in Belgium. And the company is also committed to the future and to sustainable growth, with its employees as the driving force.”

In this context, the Picanol Group has launched Let's Make it Together in the course of 2017 to focus in the coming years on three priorities:

• The Picanol Group will continue to invest in future-oriented equipment and efficient logistics processes. At the same time, the company wants to create an appealing working environment.
• The group is committed to the digitisation of production and processes by capturing, making available and using data efficiently. The use of good hardware and software platforms to support the business processes is of central importance in this context.
• The Picanol Group strives for an organisation in which engaged employees have room for creativity and initiative. Its employees are actively supported in this regard, receiving ongoing training in order to further develop their talents and provide added value.

Outlook

For the first six months of 2018, the order book is well-filled. For the first half of 2018 the Picanol Group expects to realise 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.

The Picanol Group remains cautious, as it is active as an export-oriented company in a volatile world economy. Due to the cyclical nature of the textile market, strict cost-control remains of the essence.

www.picanolgroup.com