Picanol Group Starts 2015 With A Well-Filled Order Book

Company Performance

Picanol Group Starts 2015 With A Well-Filled Order Book

The Picanol Group realised a consolidated turnover of 418.2 million euros over the full 2014 financial year. This compared to 559.9 million euros in 2013, which was the best year in the history of the group. The Weaving Machines division made a hesitant start to 2014 based on the weaker order book at the end of 2013. The first half of the year was characterised by a lower demand for weaving machines worldwide. This resulted in a sharp decline in orders compared to the record year of 2013. The demand for Picanol weaving machines increased in the fourth quarter of 2014 with the technological leadership of Picanol being further bolstered by the weaker euro.

Lower demand from the Weaving Machines division also translated into a decrease in turnover for Industries in 2014. The decrease in turnover was partly offset by rising sales to other customers, while Industries strongly focused on engineered casting solutions (Proferro) and its controller capacities (PsiControl) to attract new projects.

The Picanol Group closed the year 2014 with a net profit of 52.4 million euros, compared to 73.1 million euros in 2013. For the first time since the financial year 2007, the board of directors will propose the payment of a gross dividend of 0.1 euros at the annual general meeting on April 15, 2015, for a total amount of 1.8 million euros.

The Picanol Group is currently recruiting some 30 temporary workers for its production site in Ypres, to meet the deadlines on a number of projects. In addition, the group has 10 vacancies for engineers and technically skilled workers. For the first half of 2015, the Picanol Group expects to realise an increase in turnover. This is anticipated to be between the turnover recorded during the first half of 2013 and the turnover of the first half of 2014.