Itema’s Q1 Loom Sales Exceed Expectations

The Itema Group increased their first-quarter 2018 turnover by 15% compared to the same quarter of last year to 80.5 million euro.

Their core business, the manufacturing and marketing of looms, registered unprecedented sales results over the year before. An exceptional leap for Itema looms which increasingly represent the preferred choice and continue to gather the appreciation of weavers in main textile markets, such as China, Turkey and India.

The turnover shows the group’s strong international presence with 92% of the total coming from foreign markets. The Italian market also achieved good results, with the positive trend registered in loom sales demonstrating the good market performances of “Made in Italy” premium quality fabric producers.

But looms were not the only ones providing satisfaction for Itema. In 2017 the Group launched a diversification strategy, “Project Galaxy”, which led as its first successful operation to the acquisition of a majority interest (61%) in Lamiflex, a leading supplier of technical composite products for the textile, aeronautical and medical industries, whose turnover increased by 6% year-on-year in the first quarter of 2018.

Itema is conscious to operate in a highly volatile market subject to sudden slowdowns due to the fragile macroeconomic and political conditions of certain textile markets, but will face the rest of the year relying on the momentum and confidence ensured by a well-filled order book for the upcoming months.