Business

2024-06-27

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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Business

2024-06-27

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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Business

2024-06-20

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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Business

2024-06-13

Lenzing welcomes new core shareholder Suzano S/A

The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, learned today that Lenzing's main shareholder B&C Group and the Brazilian pulp producer Suzano S/A have signed a long-term partnership in connection with the majority stake in Lenzing. As part of this agreement, Suzano S/A will take over a 15 percent stake in Lenzing AG from B&C Group.

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Business

2024-05-30

Biosorbe buys Renewcell’s facility in Kristinehamn

Biosorbe has recently been given the opportunity to purchase new factory premises in Kristinehamn, which was previously owned by Renewcell. Renewcell’s business idea was to recycle textile waste to create new textile fibers. Biosorbe, on the other hand, produces oil-absorption materials. Despite these differences, the factory is still suitable for Biosorbe’s purposes.

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Business

2024-06-27

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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Business

2024-06-27

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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Business

2024-05-23

VF Corporation reports fourth quarter revenue and earnings and exceeds fy24 cash flow expectations

VF Corporation reported financial results for its fourth quarter (Q4'FY24) and fiscal year ended March 30, 2024 (FY24). Bracken Darrell, President and CEO, said: "In Q4, we made progress advancing our Reinvent transformation program. We closed the fiscal year with further inventory reductions helping us deliver $1 billion in operating cash flow and over $800 million in free cash flow, exceeding our guidance. "

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Business

2024-04-25

Products made with forced labour to be banned from EU single market

Suspected use of forced labour to be investigated and, if proven, products to be withdrawn from the market // Attention to products coming from areas with a high risk of state-imposed forced labour //Products may be allowed back on the market if forced labour is eliminated from the supply chain

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Business

2024-04-25

Kornit Digital with new partnership

Ball & Doggett forges strategic partnership with Kornit Digital for dynamic Print-on-Demand services across Australia

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Older News

Business

2024-03-28

H&M Hennes & Mauritz with increased profit in first quarter 24

In the first quarter (1 December 2023 – 29 february 2024) the H&M group’s net sales amounted to SEK 53,699 m (54,872). Gross profit increased by 7 percent to SEK 27,655 m (25,886). This corresponds to a gross margin of 51.5 percent (47.2). Operating profit amounted to SEK 2,077 m (725), corresponding to an operating margin of 3.9 percent (1.3). Adjusted for result from investments in associated companies and joint ventures of SEK -14 m (999) the operating profit amounted to SEK 2,091 m (-274), corresponding to an improvement in profit of SEK 2,365 m.

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Business

2024-03-21

Lenzing Group's financial performance in 2023: Overcoming challenges with resilience

In 2023, the Lenzing Group, a key player in regenerated cellulosic fibers, faced challenges with subdued demand and rising raw material costs, impacting earnings negatively. Despite stable revenue of EUR 2.52 bn, primarily due to low fiber prices and weaker demand, specialty brands maintained resilience. EBITDA increased by 25.4% to EUR 303.3 mn, but EBIT stood at minus EUR 476.4 mn due to impairment losses.

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Business

2024-03-21

Groz-Beckert develops innovative slider needle for circular knitting machines together with Vanguard Pailung

In collaboration with Vanguard Pailung, a manufacturer of ultra-high-speed knitting machines for body-size products, Groz-Beckert has developed an innovative slider needle for a new generation of machines. The new needle technology was presented for the first time at the ITMA in June 2023.

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News Archive
2024-03-14

Inditex reports exceptional results for FY 2023

2024-03-14

Machines weaken, but components, after sales and land sales make Rieter's 2023 financial year successful

2024-03-14

On track: Autoneum achieves a significant increase in revenue and profit in 2023

2024-03-14

Suominen has published its Annual Report 2023 and Remuneration Policy

2024-03-07

Celebrating in Jiaxing!

2024-03-07

Indorama Ventures evolves its business strategy as it pivots towards structural shifts in the global chemical industry

2024-02-29

ANDRITZ reports record results for 2023

2024-02-26

Re:NewCell decides to file for bankruptcy

2024-02-22

Oerlikon reports robust figures and evaluates options for separation of Polymer Processing Solutions business unit

2024-02-22

Messe Frankfurt launches seven brand events in Central Asia

2024-02-15

Borealis and Axpo sign two new long-term wind PPAs

2024-02-15

Kornit Digital reports fourth quarter and full year 2023 results

2024-02-08

VF Corporation reports third quarter fiscal 2024 results and announces strategic portfolio review

2024-02-08

Suominen increases EBITDA in a difficult environment

2024-02-01

Acquisition strengthening Rieter’s After Sales Business

2024-02-01

adidas full-year results exceed latest expectations

2024-02-01

H&M increases results in the past financial year

2024-01-25

Lenzing announces impairment requirements (EBIT) for the financial year 2023 and specifies earnings forecast (EBITDA)

2024-01-25

Autoneum records significant increase in revenue and results in the 2023 financial year

2024-01-25

Rieter announced solid sales in the financial year 2023 despite challenging market environment

2024-01-12

CARBIOS has received €1.2M of the €11.4M granted by ADEME

2023-12-21

Indorama Ventures continues to be a member of the DJSI World and DJSI Emerging Markets

2023-12-14

Inditex with good figures for the first 9 months of 2023

2023-12-13

Changes in the Board of Directors of Rieter Holding AG