Itema, the leading global provider of advanced weaving solutions, announced financial results for the first half of 2014 (H1 2014) exceeding expectations and register-ing a further growth to the already spectacular results of 2013. Despite the severe decline in global weaving machine demand, Itema sold in the first six months of this year 12 per cent more weaving machines compared to same period last year, increasing the group turnover by 10 per cent YOY.
´The first half of this year produced some rather positive and encouraging results,´announced Carlo Rogora, CEO of Itema. The highest improvement in performance comes from the Indian Subcontinent, in particular from Itema India after the major turnaround actions implemented in Q1 2014. Less satisfactory results so far come from China and from the airjet weaving machine sales, both due mainly to a significant slowdown in the Chinese weaving machine market.
In March, Itema renewed the existing Company´s presence and investment in China with the Grand Opening of Itema China new premises in a highly efficient and modern establishment in Shanghai. Furthermore, Itema launched two new avant-garde airjet models (the A9500p and the A9500e) and two new rapier weaving machine models (R880DT and R9000) at ITMA ASIA 2014 in Shanghai, thus confirming itself as leading market innovator. All new market launches were greet-ed very positively by Customers. The rapier R9500 model continues earning well-deserved accolades worldwide.
Launched less than 2 years ago, the weaving machine reaches a new pinnacle of success achieving 50 per cent of all Itema weaving machines sales (compared to 30 per cent in 2013) and establishing itself as the all-times best-seller.