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Picanol posts strong 2016 results

Mar 07, 2017
Picanol posts strong 2016 results

The Picanol Group, which specialises in the development, production and sale of weaving machines, engineered casting solutions and custom-made controllers, has reported seventh consecutive year of strong results. In 2016, the Group earned a profit of €119 million. Based on a well-filled order book, the Group has predicted positive outlook for 2017.

The Group realised a consolidated turnover of €639.78 million over the full 2016 financial year, which represented an increase in turnover of 20.8 per cent compared to €529.34 million recorded in 2015. This means that Picanol outperformed its previous record year (a turnover of €559.98 million was recorded in 2013), and this all took place in the year that Picanol celebrated its 80th anniversary.

In 2016, the Weaving Machines’ division experienced a record year. The 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 result thanks to a higher turnover in various sectors.