Business
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Suspected use of forced labour to be investigated and, if proven, products to be withdrawn from the market // Attention to products coming from areas with a high risk of state-imposed forced labour //Products may be allowed back on the market if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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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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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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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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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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Inditex reports exceptional results for FY 2023
In 2023, Inditex continued with a very robust operating performance due to the creativity of the teams and the strong execution of the fully integrated business model.
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Machines weaken, but components, after sales and land sales make Rieter's 2023 financial year successful
The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.
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Business
On track: Autoneum achieves a significant increase in revenue and profit in 2023
Autoneum significantly improved revenue in local currencies by 34.8% in 2023 compared to the previous year, supported by inorganic growth and a positive market environment. Consolidated in Swiss francs, revenue increased by 27.6% to CHF 2 302.3 million.
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Suominen has published its Annual Report 2023 and Remuneration Policy
Suominen’s Annual Report 2023 has been published on March 12th, 2024. The Annual Report includes Annual review, the Report by the Board of Directors, Financial Statements for 2023, the Auditor’s report, Corporate Governance Statement, Remuneration Report and Sustainability report.
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Celebrating in Jiaxing!
Trützschler’s ultra-modern factory in China is now complete! More than 300 guests visited the facility for the opening ceremony on February 24 to celebrate this latest step in Trützschler' s global expansion. Now, the new site is serving customers in China with an expanded range of solutions and services.
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Business
Indorama Ventures evolves its business strategy as it pivots towards structural shifts in the global chemical industry
Indorama Ventures Public Company Limited, a global sustainable chemical producer, unveiled a significant evolution in its business strategy and outlined how major structural shifts are re-shaping the chemical industry, creating opportunities for the company to emerge stronger from the current downturn and benefit from its unique global model in the longer term.
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ANDRITZ reports record results for 2023
In 2023, international technology group ANDRITZ again achieved the best results in its history. Revenue increased to 8.7 billion EUR (up 15% from 2022), net income rose to 504 MEUR (+25%), and the operating result (EBITA) reached 742 MEUR (+14%). The comparable EBITA margin increased from 8.5% to 8.7%. Subject to the approval by the Annual General Meeting, shareholders will benefit from this excellent performance through a dividend increase to 2.50 EUR (2022: 2.10 EUR) per share.
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Re:NewCell decides to file for bankruptcy
The Board of Directors of Re:NewCell AB has today decided to file for bankruptcy of Re:NewCell AB (publ). The bankruptcy application will be filed at the Stockholm District Court.
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