Itema Group results 2013 and is launching novelties
Italian Itema (a leading global provider of advanced weaving solutions), reports 2013 increases in sales, profit and operational result
According to Itema CEO Carlo Rogora, 2013’s sales of weaving machines and spare parts were up 25 % against 2012 and reached EUR 250 million, and EBIT (operational result) was up 30 %. Also net profit and cash flow from operations exceeded own expectations. Consolidated net proceeds from weaving machinery increased 50 % thanks to a commercial initiative taken during the period and the positive market response from the launching of the R 9500 in 2012. Itema branded weaving machines were delivered to 40 (39) countries worldwide. The spare part business contributed with no significant changes to 2012.
2013 again a wide range of restructuring and process improvement measures took place, such as continued lean manufacturing across the production facilities, both at Coluzate (I) and Shanghai (PRC) sites, allowing a quick response to growing demand. Itema introduced important steps of automation in the production processes and far reaching energy saving initiatives at the Colzate plant. In Shanghai the move of commercial offices and production plant to a new energy efficient and ergonomic site is at its final stage with the grand opening scheduled for March 6, 2014. At this occasion there will be announcements of new product developments. Itema invests significant portions of its gross profits in R&D.
During the reporting time, Itema made also several high profile and strategic important appointments by naming Fulvio Carlo Toma as Group Sales and Marketing Director. Prior to joining Itema he served as Chief Commercial Officer at Eletrronica Santerno and held a number of executive positions in major international companies, such as Cap Gemini, General Electric and Siemens. Another important appointment was the nomination of Giacomo Sala, Group CFO also to the position of Managing Director of Itema Switzerland.
Itema started the first quarter of 2014 positively and in line with the strong growth of the same quarter 2013. For all of 2014 the management remains cautious, considering the most recent worsening of macro-economic conditions in key markets for Itema.
New cornerstones in R&D and education
In view to R&D, ItemaLab continues the pursuit of excellence underpinning the enhancement of advanced weaving machines. Starting this month, Itema’s highly qualified R&D engineers will be physically located in a newly created laboratory inside Kilometro Rosso (red kilometer), the renowned Science & Technology Park just outside of Bergama. ItemaLab will join a host of other multi-disciplinary and visionary companies working on advancing innovations across a number of industries, and with the aim of reaching new frontiers in science and technology.
ItemaLab is an R&D incubator and will continue the task of designing the weaving machine of the future in a purpose-build hub dedicated to cross-fertilization of ideas, experimentation, and in dialogue with like-minded inventors from academia, enterprise and science.
In view to education, the company has launched Itema Academy in partnership with Confindustria Bergamo Education. It is, according to in-house information, the once-in-a-lifetime opportunity for the best new graduates to start their careers in a growing and dynamic multinational company like Itema. It further represents the ideal chance to pursue a career by actively seizing opportunities to grow into a successful multi-faceted professional inside a global company devoted to innovation and to its employees. Itema’s goal is to provide its expertise and resources to promising young graduates to allow them an opportunity to cultivate and enhance their talent to form a successful career. Itema Academy is a highly rated apprenticeship to create managers capable to affront any business situation and covering all important aspects of managing a company.