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27th February 2017, Ardooie

Sioen Industries records growth in 2016

Sioen offers its experiences and innovations in the field of marine applications.Sioen Industries Group has reported EUR 26.0 million in profit over the year 2016, compared to EUR 22.6 million over 2015, showing an increase of 14.8%.

Sioen Industries is a leading specialist in extrusion of man-made fibres, manufacturer of woven and nonwoven fabrics and scrims, coater of technical textiles, and manufacturer of technical protective garments for professional use and producer of colour dispersions.

Results

Over the past year sales grew by 11.3% to EUR 363.4 million, compared to EUR 326.4 million in 2015. This sales figure includes the sales of the recently acquired companies – Manifattura Fontana, accounted for as of 1 April 2016 and Dimension Polyant, accounted for as of 1 August 2016.

Excluding those recently acquired companies the Sioen Industries Group realised an organic growth of 3.3%, compared to the same period previous year.

The operating result evolved from EUR 35.8 million last year to EUR 44.7 million over 2016 or an increase with 24.8%. Favourable market conditions combined with continuous improvement programmes, an everlasting cost consciousness and a strong focus on more value added products are the main drivers supporting this positive evolution, according to the manufacturer.

The financial result of the Group amounted to EUR -6.6 million over the year 2016 against EUR -3.0 million in 2015. According to the company, an increase solely due to negative currency results for a total of 4.2 million.

Outlook

A change in the political scenery combined with the announcement of protectionist measures and a worldwide revival on the raw materials markets incite us to be prudent, the company reports.

Nevertheless, the Sioen Industries Group will continue to pursue growth through the development of new and complementary business lines in technical textiles. “Sioen core values: a strong focus on innovation, customer intimacy, an extensive product portfolio, a strong focus on added value products and sustained cost efficiency are the foundations upon which we build our future,” the company explains.

www.sioen.com

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