ITEMA Announces H1 2015 Results, Launches New R9500terry And Opens Itema Campus

Company Performance

ITEMA Announces H1 2015 Results, Launches New R9500terry And Opens Itema Campus

1. Consolidated Turnover of Itema Group Up 20% YOY

2. Weaving Machine Sales Up (+17% volume; +24% turnover)

3. Improvements in Profitability (+20% EBITDA; +25% EBT)

4. New R9500terry Loom Official Launch

5. New Training Center Itema Campus Opens Doors

6. Preview of ITMA Exhibit

Itema 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 centre, Itema Campus. "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%.” 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. 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 specialised textile machine. Itema is recognised 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 specialise and concentrate on the rapier technology for terry weaving." stated the Itema CEO.On the occasion of the R9500terry launch, the company opened the doors of Itema Campus, the new, next-generation training centre. At ITMA, Itema will present, along with the new R9500terry, five other looms 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." "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."