2016 a Record-Breaking Year for Picanol Weaving Machines Division

The Picanol Group achieved a consolidated turnover of 639.78 million euro over the full 2016 financial year, which represents an increase of 20.8% compared to the 529.34 million euro recorded in 2015. The group outperformed its previous record year in 2013 (a turnover of 559.98 million euro), and this all took place in the year when the group celebrated its 80th anniversary.

In 2016, the Weaving Machines Division experienced a record-breaking year. Growing demand for quality and technology created strong sales and an increased market share in many markets. This resulted in Picanol putting a record number of weaving machines on the market in 2016, thereby especially focusing on dealing with production peaks. The Industries Division also had a strong year, and increased its contribution to the group results thanks to a higher turnover in various sectors.

The group posted net profits of 88.38 million euro, as compared with 60.6 million euro in 2015. Tessenderlo Chemie nv contributed 31.34 million euro to the net results (compared to 25.09 million euro in 2015).

According to Picanol, the order book is well filled for the first six months of 2017. The group expects a slight increase in turnover for the first half of 2017 compared to the first half of 2016, but is taking into account a limited impact of rising commodity prices.

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