Itema Group, which is a leading global supplier of weaving solutions including weaving machines, spare parts and integrated systems, announced financial results for the first six months of 2013. According to the report, Itema has positive results for the first half of the 2013 with the increase of turnover recorded from sales of weaving machines.
The consolidated net profit and cash flow obtained from activities significantly exceeded the expectations. The consolidated net revenue obtained from sales of weaving machines shows an increase of 70 percent compared to the previous year. This development is attributed to the success in the market achieved with the powerful commercial activities implemented in 2012 following the introduction of the new R9500 Rapier Weaving Machine in October 2012. In addition to the success of R9500, the other developments that contribute to the positive performance of Itema are as follows: the amount of delivery to China was doubled since the beginning of 2013 compared to the same period in last year. This development provided that the customers realized the quality of the products produced by Itema. The sales of P7300Hp were tripled compared to 2012. Spare Parts Business Unit experienced a slight decline despite the challenging market conditions.
The weaving machines made turnover at the rate of 70 % during the year
Itema completed the first half of 2013 with 12 million Euros profit before tax (pbt) and tripled the results of the same period in 2012. Earnings before interest taxes depreciation and amortization (ebitda) constituted approximately ten percent of the turnover. The amount of sales obtained from operating activities increased constantly. Thereby, the increasing net financial position was supported with EBITDA.
New Investments Amounting to 3 Million Euros
New investments were reached 3 million Euros and it is considered that these investments will amount 6 million Euros until the end of the year. The company, which generally focuses on product's quality and reliability, decided another important plan including the renewal of CNC machines for the next few years. Besides, Itema targets at meeting the market demands more rapidly by working with the first supply chain among its worldwide production plants in line with plain production principles and realizing an increase up to 166 % in global demands compared to the previous year only with a minimal increase in labour force.
