ITEMA announces H1 2015 results, launches new R9500terry and opens ItemaCampus

Itema Group CEO Carlo Rogora in front of the new R9500terry (c) 2015 Itema
Itema, the largest privately-owned manufacturer of best-in-class weaving machines, spare parts and integrated services, announced financial results for the first half of 2015 (H1 2015) once again exceeding expectations. The Company released the financial results on the same day as officially launching a brand-new terry weaving machine, the R9500terry, and opening the doors of the new training center, ItemaCampus.
  • Consolidated Turnover of Itema Group Up 20%
  • Weaving machine Sales up (+17% volume; +25% turnover) 
  • Improvements in Profitability (+20% EBITDA; +25% EBT) 
  • New training Center Tema Campus Opens Doors Preview of ITMA Exhibit

“These are exciting times for us at Itema,” says Carlo Rogora, the CEO of Itema Group. “We are in the sixth semester in a row of constant and robust growth with a CAGR of 13%. Our Company’s fundamentals are solid. Our Manufacturing facilities are top-notch. Our People are motivated. Our Innovations and R&D twin departments never sleep. We have never been more committed to provide the best possible technology to not only fulfill our Customers’ needs, but go beyond. Our Customers’ quest for the best is ours as well. And the results speak for themselves.

”In the first six months of the year Itema sold 17% more weaving machines compared to same period last year, increasing the Group turnover from Weaving Machines by 24%, and the consolidated turnover including Spare Parts and other Company transactions by 20% YOY. Since 2012, the Company has continuously grown up, more than doubling the volumes of textile machines sold worldwide. “Nevertheless, we are not a “Volumes Company,” continues Rogora. “We improved dramatically also all financial indicators, once again exceeding expectations with both EBITDA and EBT up more than 20% YOY and seamless Cash Flow production, month after month. We produce Value for our Customers and for the Stakeholders – this is our commitment.”

The Company is forging full speed ahead with the investments and process improvements as part of the wider “Lean Manufacturing” program implemented across the production and assembly lines. “The resulting boost in productivity and increased flexibility is staggering,” said Rogora. “We are now more nimble and leaner than ever and it really makes a difference, both in terms of response times and Company’s bottom line.

The Company is also faster than ever at churning out technological innovations. The time-to-market of new Itema weaving machines has dropped significantly from more than 24 months for previous models to less than 12 months for the latest arrival, the R9500terry. The new loom was presented in a series of events in July and September entitled “Weaving Terry Like Never Before” to a select panel of worldwide Customers.

“We wanted to host on our HQ Premises some of the most experienced and top-class Terry weavers and Press to enter in “physical contact” with our new specialized Textile Machine. Itema is recognized globally as the unrivalled leader in the manufacture of premier rapier Terry weaving machines. We have more than 35 years of experience in this application, and it is our strategic choice to specialize and concentrate on the rapier technology for Terry weaving. We always seek to provide our Customers with the best possible tools for them to stand out in terms of excellence and quality of their end products. It is not a “coincidence” that all the Top companies weaving Terry towels around the globe are our Customers. As it is not surprising (even very pleasing) that Itema received already fixed orders for some 100 machines since the launch,” stated the Itema CEO.

On the occasion of the R9500terry launch, the Company opens the doors of ItemaCampus, the new, next-generation training center. In Rogora’s words: “Our initial concept was to render our training center more functional for our Customers. We started with that in mind, but, driven by our desire to do things not only well, but always better, we ended up with a major and complete overhaul of our visitors’ facilities. We are very proud to launch an open and modern space with a “campus” feel. We want everyone visiting us to feel instantly welcome and leave our premises with a richer, more meaningful and comprehensive experience feeling and getting in touch with the “Itema Essence” whilst here.

” The new and enhanced facilities are especially handy for the busy times ahead, as the Company is taking bookings for Customer visits before, during and after the biggest show of the year, ITMA, taking place in Milan from 12th to 19th of November. A short ride away from the bustling city of Milan, and an hour from the ITMA fair grounds, a visit to ITEMA can offer the invaluable opportunity to see first-hand the prowess and the full offering of the Company, especially since some of the weaving loom models can be seen only in the Company’s Show Room in Colzate. Rogora continues: “At ITMA, we will show some of our latest rapier and airjet models in a wide range of weaving applications. But we could not bring all our exciting technology to Milan due to TMI – Too Much Innovation. Therefore some innovative looms can only be “seen and touched” at our HQ.

At ITMA, Itema will present, along with the new R9500terry, 5 other looms in our booth (Hall 1 A101) and several more in Partner booths, both rapier and airjets, all of them presenting new solutions, devices and applications for specific and increasingly demanding weavers’ expectations, including the new evolution of the rapier which will equip most of the R9500 looms. The new Itema Rapier R9500 2.0 (available both for guided and free-flight applications) represents the ultimate solution in terms of weaving flexibility and covers the full range of weft types. Furthermore, it will dramatically reduce weft stops, increase efficiency and boost productivity.”

“With the R9500 2.0, Itema reconfirms our technological leadership in the rapier insertion technology,” says Rogora. “Notwithstanding the fact that our Group (thanks to the legacy of Sulzer Textile and Vamatex, now both part of Itema) invented many years ago the positive rapier solution, Itema confirms its approach of a highly evolved “negative rapier” as the best choice for Customers, due to less complexity, lower costs, higher durability and easier maintenance. Last but not least, much higher performances. In Itema, we develop our product strategy following our mantra: to maximize the value for our Customers.

”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 on investments, and not only in China,” continues Rogora. “The future, even in the short term is difficult to predict. One thing is certain: We will push ahead with our strategy to increase our flexibility and readiness to respond quickly to market changes and to pursue with ever-greater determination the excellence and innovation of our products and the continuing satisfaction of our Customers."
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