Nextil, owner of brands such as Treiss, EFA, Ritex, SICI93, Playvest, Anna Llop and Dogi, reduced its losses by 39.3% in the first half of the year to 2.6 million euros, according to information provided by the company to the Comisión Nacional del Mercado de Valores (CNMV).
The textile company's turnover stood at 48.7 million euros, representing a growth of 27.5%, while the gross operating profit (Ebitda) reached 2.9 million euros, compared to losses of two million euros recorded in the same period last year.
The company pointed out that in the first half of the year all business variables had improved due to cost rationalisation measures, the divestment of the stock service line in 2018, the incorporation of SICI93 in the perimeter and the commercial strategy aimed at proposing the value of the fabric up to the garment. 51,6 million, due to bank loans to support the group's latest acquisitions.
By business units, the weaving unit achieved sales of 25,5 million euros, 12,6% less, due to the fall in sales in the United States due to a temporary drop in consumption, added to the sudden rise in raw material prices in the country, which has yet to be passed on to customers.
On the other hand, to alleviate this situation, the company has signed a supply agreement with the main North American yarn manufacturer to keep its tariffs stable in 2020. With regard to the garment business unit, turnover soared by 279% to 26,7 million.
Revenues increased by 28,6% in Treiss, 23% in SICI93 and 26,6% in Playvest compared to the first half of 2018, reflecting sustained growth in all companies.
Nextil has indicated that the acquisition strategy is allowing the creation of a large textile group, with a more diversified business and a fullpackage service that allows the market to offer integrated solutions with greater added value, from the fabric to the garment.