Production and services sales of the Utenos Trikota\u017eas Group owned by SBA in Q1 2021 totaled EUR 6.4 million, i.e., 13.6% less than a year ago when the Group\u2019s sales totaled EUR 7.5 million. Exports of the Group accounted for 84.7% of their production.<\/p>\n\n\n\n
\u201cConsidering the pandemic fatigue worldwide and the production capacity fluctuations due to the lockdown restrictions, the performance in the first quarter was better than anticipated. While Q1 2020 was only partly affected by the pandemic, in Q1 2021 we had to face total lockdown and constant uncertainty. As the vaccination process is gradually gaining momentum and the lockdown conditions are being eased, there are more positive signs for subsequent quarters of the year,\u201d Petras Ja\u0161inskas, Managing Director of Utenos Trikota\u017eas, said.<\/p>\n\n\n\n
Meanwhile, the company of Utenos Trikota\u017eas earned EUR 5.8 million in Q1 2021. Sales revenue decreased by EUR 0.9 million or 12.9% compared to Q1 2020. The share of the company\u2019s income from export sales amounted to 83.8% of the total revenue.<\/p>\n\n\n\n
Signs of recovery and new export opportunities<\/strong><\/p>\n\n\n\n According to Ja\u0161inskas, last year, losses in export sales caused by the lockdown and closure of Utenos Trikota\u017eas shops were partly offset by online sales, including huge demand for face masks. This year, the demand for face masks has naturally decreased, therefore the strategic focus has been fully directed to the export markets.<\/p>\n\n\n\n \u201cThe year of the pandemic made us focus on what defines the competitive advantage of Utenos Trikota\u017eas \u2013 sustainable solutions at all stages of production, textile innovations and production efficiency. As customers massively shift towards environmentally friendly materials, they require traceability throughout the supply chain. We are facing a growing demand for the textile manufacturer to be fast, flexible and able to produce in smaller batches. Our input in these areas has been strong, therefore we managed to further increase our portfolio of customers focused on sustainable production\u201d<\/p>Petras Ja\u0161inskas, CEO of Utenos Trikota\u017eas<\/cite><\/blockquote>\n\n\n\n The export targets of Utena Trikota\u017eas set at the beginning of the year were met and even exceeded. Compared to Q1 2021, sales in the largest sales segment \u2013 on-demand manufacturing \u2013 decreased by 7.5% to EUR 5 million in Q1 2021. New customers attracted during the pandemic year continue their production with Utenos Trikota\u017eas, which provides a basis for further export development.<\/p>\n\n\n\n Impact of the pandemic and lockdown restrictions on performance<\/strong><\/p>\n\n\n\n Restricted operations of Utenos Trikota\u017eas shops due to the lockdown and the decrease in the demand for face masks has affected sales of Utenos Trikota\u017eas brands UTENOS and ABOUT. The sales revenue of the brands decreased by 33.4% compared to last year, totaling EUR 0.8 million. The sales<\/p>\n\n\n\n revenue of \u0160atrija, a subsidiary of Utenos Trikota\u017eas which produces functional-technical clothing, decreased by 23.5%.<\/p>\n\n\n\n In Q1 2021, the Utenos Trikota\u017eas Group incurred EUR 640 thousand pre-tax loss compared to EUR 200,000 pre-tax loss during the same period last year. Meanwhile, the company Utenos Trikota\u017eas incurred EUR 688 thousand pre-tax loss compared to EUR 76 thousand pre-tax profit during the same period last year.<\/p>\n\n\n\n The Group\u2019s EBITDA was negative and stood at EUR 456 thousand in Q1 this year or EUR 912 thousand less compared to the same period last year. The EBITDA of the company Utenos Trikota\u017eas was also negative and stood at EUR 507 thousand or EUR 747 thousand less than in Q1 2020. These indicators were significantly affected by fluctuations in the production capacity caused by the pandemic and the costs incurred to compensate them.<\/p>\n","protected":false},"featured_media":1372,"template":"","naujienu_kategorijos":[23],"class_list":["post-1639","naujienos","type-naujienos","status-publish","has-post-thumbnail","hentry","naujienu_kategorijos-financial-results"],"acf":[],"yoast_head":"\n