Business
Monforts, Archroma and BW Converting’s Baldwin Technology partner to drive innovation in sustainable textile finishing
A collaboration that unites Monforts’ renowned dyeing and finishing equipment, BW Converting’s revolutionary Baldwin TexCoat G4™ digital spray technology and Archroma’s advanced chemistries towards sustainable solutions is charting the course for the future of sustainable textile finishing.
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Lenzing Group reports further improvement in operating result
The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.
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Rieter wins major follow-up order from DIW
On July 16, 2024, Rieter and Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd. (DIW) have signed a purchase contract for more than 700 of the company's winding machines Autoconer X6. This represents the largest order in the history of Rieter China. The agreement also strengthens the strategic partnership between the two companies that aims to develop state-of-the-art spinning operations and achieve unprecedented levels of quality, productivity and efficiency.
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Sandler deals with the energy crisis
The nonwovens specialist is looking back on a difficult financial year 2023. Meanwhile, energy prices have declined, and the measures introduced are taking effect.
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CARBIOS and Zhink Group enter official discussions for long-term partnership to build PET biorecycling industrial capacities in China
CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and Zhink Group, one of China’s Top 500 Private Enterprises, specializing in two global industries, PET and textiles, announce today the signing of a joint Letter of Intent to build a biorecycling plant in China using CARBIOS’ revolutionary enzymatic depolymerization technology to serve the global market.
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Indorama Ventures concentrates yarn production in Italy to serve European textile industry
Indorama Ventures, one of the world’s leading petrochemical producers and a leading player in the polyester fibers market, concentrates large parts of its high-performance polyester filament yarn production for the European textile industry around 100km west to Milan, Italy.
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INDITEX reports a very strong operating performance in its interim report for the first half of financial year 2024
In 1HY2024, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated store and online business model.
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Business
CARBIOS and FCC Environment announce joint project to establish UK-based PET biorecycling facility
CARBIOS, (Euronext Growth Paris : ALCRB), a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, and FCC Environment UK (“FCC”), one of the UK’s leading recycling and waste management companies, have signed a Letter of Intent (LOI) to jointly study the implementation of a UK-based plant using CARBIOS’ PET biorecycling licensed technology.
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Hugo Boss focuses on cost efficiency amid challenging market conditions
Despite a challenging market environment, Hugo Boss reported continued revenue growth in the first half of 2024, with a 3% increase overall, although Q2 saw a slight decline of 1%. The company is enhancing its market share for its flagship brands, BOSS and HUGO, through strategic initiatives and a stronger focus on cost efficiency.
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Autoneum delivers significant increase in operating result
Autoneum significantly increased its revenue consolidated in Swiss francs by CHF 109.8 million to CHF 1 212.3 million compared to the prior-year period, supported by inorganic growth. In a slightly declining market, the Company succeeded in increasing its EBIT margin excluding special effects by 1.3 percentage points to 5.4%. A solid net result of CHF 36.1 million was generated in the first half-year of 2024. Due to the positive margin development, the Company now expects an EBIT margin of 5.0% to 5.5% for the current financial year (previously 4.5% to 5.5%).
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Business
The business situation continues to stagnate, casting a shadow on year-end expectations
The May 2024 ITMF Global Textile Industry Survey (GTIS) indicates a continued stagnation in the textile business climate, with a marginal improvement of the economic situation due to more companies deeming business “satisfactory”. On the other hand, business expectations have stagnated in positive territory for a year, reflecting optimism rather than actual improvement, as the entire supply chain suffers from a lack of orders and high costs that affect profit margins.
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H&M Group reports robust Q2 and six-month performance
The H&M Group has reported a robust performance in the second quarter (March 1, 2024 – May 31, 2024), with net sales rising by 3% to SEK 59,605 million. Gross profit surged by 11% to SEK 33,569 million, improving the gross margin to 56.3%. Operating profit increased significantly to SEK 7,098 million, achieving an operating margin of 11.9%. Adjusted operating profit stood at SEK 7,297 million. The result after tax soared by 52% to SEK 4,995 million.
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Rieter to install world’s first complete air-jet spinning system with J 70 technology
Guangxi Baisheng Textile Co., Ltd. signed an agreement with Rieter to implement the world’s first complete spinning process using Rieter’s latest air-jet spinning technology J 70. This project will elevate automation levels and reduce conversion costs at Baisheng’s operations, setting a new benchmark in air-jet spinning in terms of quality and productivity.
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