Nextil reduces H1 losses by 39.3 percent

Business

Nextil reduces H1 losses by 39.3 percent

by Prachi Singh
1 Oct 2019

European textile group Nextil, owner of brands such as Treiss, EFA, Ritex, Sici93, Playvest, Anna Llop or Dogi, reported first half EBITDA of 2.9 million euros (3.1 million dollars), 4.9 million more over the same period last year, reflecting the upward trend in profitability. The company said in a statement that positive evolution of the business allowed losses to be reduced by 39.3 percent, recording a loss before tax of 2.6 million euros (2.8 million dollars), compared to 4.3 million euros in the same period in 2018, representing an improvement of 1.7 million euros. Turnover in this period rose 27.5 percent to over 48.7 million euros (53 million dollars).

The fabric business unit recorded a turnover of 25.5 million euros (27.7 million dollars), 12.6 percent less than in the first half of 2018 due to the fall in sales in the United States.

The company’s garment business unit posted turnover increase of 279 percent to 26.7 million euros (29.1 million dollars). Revenues increased by 28.6 percent in Treiss, 23 percent in Sici93 and 26.6 percent in Playvest compared to the first half of 2018, reflecting sustained growth in all companies. The annual EBITDA figure was positive by 4.5 million euros (4.9 million dollars), which represents an improvement of 4.8 million over the figure for the previous year in the same period.