Picanol Group increases proceeds by 11 % first half 2017 and well filled order log for second half
- In line with the previously announced forecast, the Picanol Group (Euronext: PIC) realized a consolidated turnover of 364.7 million euros in the first half of 2017, an increase of 11% compared to EUR 329.7 million in the first half of 2016.
- The Weaving Machines division again experienced a strong first half in 2017, having ended 2016 with a well-filled order book. Increasing demand for technology and quality brought strong sales, especially in Asia, with market share increases in many markets. As a result, Picanol placed a record number of weaving machines on the market in H1 2017. The Industries division also had a strong first half-year thanks to the increased demand from Weaving Machines and projects at other customers, which allowed Proferro (foundry and mechanical finishing activities) and PsiControl (controllers) to realize strong revenue growth.
- These activities resulted in the first half of 2017 in a net profit of EUR 52.2 million compared to EUR 48.1 million in the same period in 2016. In addition, Tessenderlo Group nv contributed EUR 5.8 million to the net result in the first half of 2017 (compared to EUR 12.3 million in the same period last year). The Picanol Group closed the first half of 2017 with a net profit of EUR 58.1 million euros, compared to EUR 60.4 million in the first half of 2016.
- The Picanol Group expects a slight increase in turnover over the full 2017 financial year compared to 2016 – the best year in the history of the group – but is taking into account a limited impact of rising commodity prices.
- The Picanol Group has currently some 40 vacancies at its headquarters in Ypres. The vacancies are published on the website below