Earnings Release • Oct 30, 2012
Earnings Release
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TRADING UPDATE Regulated information 30 October 2012 – 08h30 CET
In line with the previously outlined forecast, the Picanol Group (NYSE Euronext: PIC) realized a consolidated turnover of 116.72 million in the third quarter of 2012, which represents an increase in turnover of 19% compared to 97.88 million euros in the same period in 2011.
As was the case in the previous quarter, the demand for new Picanol weaving machines remained very high during the third quarter of 2012. This is due to, amongst others, the success of new Picanol weaving machines and the favorable exchange rate of the euro. The group is also forced to focus heavily on flexibility in order to handle production peaks.
In the third quarter of 2012, the Industries division experienced a slight increase in activities compared to the same period in 2011, due to the increased demand from Weaving Machines and projects for external customers.
In the third quarter, the Picanol Group completed the recruitment of 50 additional temporary workers for the production site in Ypres. To date, more than 125 employees have already been hired in Ypres this year. To handle the current production peaks, the Picanol Group is continuing to look for additional technicians and logistics personnel. In addition, the group also has vacancies for technical profiles such as R&D Engineers, CNC-operators, Field Technicians, and IT staff.
In recent months, the Picanol Group has invested in the further expansion of its international network. In early August, the new Indian headquarters in New Delhi was inaugurated in the presence of H.E. Didier Reynders, Deputy Prime Minister and Minister of Foreign Affairs, Foreign Trade and European Affairs. Meanwhile, in the United States, Picanol of America will move to a new location in Greenville (South Carolina) at the end of this year. At the production site of Suzhou (People's Republic of China), a new warehouse is being built for weaving machines, which will be put into use at the end of 2012.
The weaving machine order book for the coming months is well filled. However, the forecasts for Industries are less clear due to the increasing economic and financial uncertainty. Based on the current order book, the Picanol Group expects to realize for the full financial year 2012 a turnover in line with the turnover achieved in 2011.
Announcement 2012 annual results 27 February 2013 Annual General Meeting 17 April 2013
The Picanol Group is an international, customer-oriented group specialized in the development, production and sale of weaving machines and other high-technology products, systems and services. The division Weaving Machines (Picanol) develops, manufactures and sells high-tech weaving machines based on air (airjet) or rapier technology. Picanol supplies weaving machines to weaving mills worldwide, and also offers its customers such products and services as training, upgrade kits, spare parts and service contracts. For more than 75 years, Picanol has played a pioneering role in the industry worldwide, and is one of the current world leaders in weaving machine production. The division Industries covers all activities not related to weaving machines: Proferro comprises the foundry and the group's machining activities. It produces cast iron parts for e.g. compressors, pumps and agricultural machinery, and parts for Picanol weaving machines. Through PsiControl Mechatronics, the group specializes in the design, development, manufacturing and support of technological components, services and mechatronical system solutions for original equipment manufacturers in various industries. Melotte develops and produces innovative product solutions using Direct Digital Manufacturing (DDM) and Near-to-Net-Shape Manufacturing (NNSM) technologies. In addition to the headquarters in Ypres (Belgium), the Picanol Group has production facilities in Asia and Europe, linked to its own worldwide sales and service network. In 2011, the Picanol Group realized a consolidated turnover of 466.95 million euros. The Picanol Group employs more than 1,900 employees worldwide and is listed on NYSE Euronext Brussels (PIC).
For further information please contact: Frederic Dryhoel, Corporate Communication Manager, at +32 (0)57 22 23 64 or by e-mail: [email protected]
This press release is also available on the Picanol Group's corporate website: www.picanolgroup.com
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