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picanol (PIC) Snapshot

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picanol (PIC) Details

Picanol NV develops, produces, and sells weaving machines and other high-tech, industrial products, systems, and services worldwide. The company operates through two divisions, Weaving Machines and Industries. It offers air jet and rapier technology based weaving machines; kits and spare parts; and weaving accessories, such as reeds, frames, and heddles, as well as training services. The company also provides cast iron parts; and electronic and mechatronic systems comprising controllers, power electronics, and electronically-controlled motors for original equipment manufacturers. In addition, it develops and produces product solutions for petrochemical, medical equipment construction, and chemical and pharmaceutical markets. The company sells its weaving machines in various textile segments, including apparel; household textiles; and technical textiles, such as airbags, medical textiles, parachutes, and tire cords. Picanol NV offers its engineered casting solutions for agricultural machinery, earthmoving equipment, compressors, textile machinery, general engineering, HVAC, and fleet management sectors. The company was founded in 1936 and is headquartered in Ypres, Belgium. Picanol NV is a subsidiary of Artela NV.

2,000 Employees
Last Reported Date: 08/27/14
Founded in 1936

picanol (PIC) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: --
Chairman and Chief Financial Officer
Total Annual Compensation: €60.0K
Executive Director
Total Annual Compensation: €15.0K
Compensation as of Fiscal Year 2013.

picanol (PIC) Key Developments

The Picanol Group Announces Consolidated Earnings Results for the First Half Ended June 30, 2014; Provides Guidance for the Second Half of 2014

The Picanol Group announced consolidated earnings results for the first half ended June 30, 2014. For the period, the company reported sales of EUR 219,926,000 against EUR 304,057,000 year ago. EBITDA was EUR 38,512,000 against EUR 62,355,000 year ago. EBIT was EUR 33,049,000 against EUR 60,144,000 year ago. Profit before taxes was EUR 34,062,000 against EUR 61,821,000 year ago. Profit was EUR 24,631,000 against EUR 42,426,000 year ago. Share of the group in profit EUR 30,113,000 against EUR 42,426,000 year ago. Basic and diluted earnings per share were EUR 1.7 against EUR 2.4 a year ago. Net cash flow from operating activities was EUR 24,366,000 against EUR 52,570,000 year ago. Acquisitions of intangible fixed assets were EUR 159,000 against EUR 36,000 year ago. Acquisitions of tangible fixed assets were EUR 6,614,000 against EUR 2,879,000 year ago. Based on the current market situation, the company is expecting a turnover and profit decline for its activities in the second half of 2014 compared with the same period of the previous year, in line with the decline of the first half of the year.

Picanol Group Reports Consolidated and Audited Earnings Results for the Year 2013; Reports Parent Sales Results for the Year 2013; Provides Earnings Guidance for the First Half and Full Year of 2014

Picanol Group reported consolidated and audited earnings results for the year 2013. For the year, the company's sales were EUR 559,979,000 compared to EUR 461,751,000 a year ago. Operating results was EUR 103,656,000 or EUR 5.86 per share compared to EUR 72,275,000 or EUR 4.08 per share a year ago. Profit before taxes was EUR 106,387,000 or EUR 6.01 per share compared to EUR 75,067,000 or EUR 4.24 per share a year ago. Profit after taxes was EUR 75,556,000 compared to EUR 55,302,000 a year ago. Profit was EUR 73,168,000 or EUR 4.13 per share after dilution compared to EUR 55,302,000 or EUR 3.12 per share after dilution a year ago. Net operating cash flow was EUR 92,527,000 compared to EUR 38,345,000 a year ago. The turnover of Picanol NV increased in 2013 by 31% compared to 2012, from EUR 329.5 million to EUR 431.9 million, driven by the strong order book in the first half of the year. For the first half of 2014 the group expects to realize a turnover below that of 2013, more in line with the first half of 2012. The group expects a significant slowdown in the global weaving machine market for 2014.

Picanol NV to Report First Half, 2014 Results on Aug 27, 2014

Picanol NV announced that they will report first half, 2014 results on Aug 27, 2014


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