{"id":3445,"date":"2024-02-29T07:47:05","date_gmt":"2024-02-29T07:47:05","guid":{"rendered":"https:\/\/www.ut.lt\/?post_type=naujienos&p=3445"},"modified":"2024-02-29T07:47:16","modified_gmt":"2024-02-29T07:47:16","slug":"utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year","status":"publish","type":"naujienos","link":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/","title":{"rendered":"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year"},"content":{"rendered":"\n
Last year’s sales were severely affected by the global slowdown in demand, including the textile sector. The SBA Textile Group Utenos Trikota\u017eas generated revenues of EUR 22.2 million in 2023, down 35.7% year-on-year. The last quarter of the year stood out for sales of the company’s owned brand, UTENOS, with a jump of 27.4%.<\/p>\n\n\n\n
\n
\u201cWe are witnessing demand slowly returning to the manufacturing market, but due to the specific nature of the textile sector, it will take more time before any positive shift in financial flows. Inflation, rising interest rates, and geopolitical concerns have led to a sharp contraction in consumption. Many even very strong brands recorded declining sales, with some being forced to close their operations,”<\/p>\n \u2013 says Nomeda Kau\u010dikien\u0117, Head of Utenos Trikota\u017eas.<\/cite><\/blockquote>\n\n\n\n<\/figure>\n\n\n\n
Operating costs reduced by a fifth \u2013 capacity remains as usual<\/strong><\/p>\n\n\n\n
In a period of slower sales, Utenos Trikota\u017eas has focused on increasing production efficiency and optimizing operating costs. The decisions implemented have resulted in a reduction of fixed costs by fifth, while the company is capable of producing the same amount as in 2022.<\/p>\n\n\n\n
According to N. Kau\u010dikien\u0117, the slowdown in production has enabled the company to continue its strategic transformation, the solutions of which will contribute to the future of the company when demand returns. “Over the past year, we have implemented a number of strategic changes that would have taken 2-3 years to implement under normal conditions. We have significantly reduced production time, streamlined operational management systems, while externally we have strengthened our positioning as a developer and producer of high-quality woolen and organic materials,” says N. Kau\u010dikien\u0117.<\/p>\n\n\n\n
Stabilization of the UTENOS Brand<\/strong><\/p>\n\n\n\n
Utenos Trikota\u017eas is currently developing its owned apparel brand \u2013 UTENOS, whose products are distributed across the company’s e-shop and 6 physical retail stores. The revenue of this sales segment grew by 27.4% in the last quarter of the year and reached EUR 2.5 million by year-end.<\/p>\n\n\n\n
“All the currently operating stores of Utenos Trikota\u017eas are successfully performing \u2013 the sales of the online store are stable, and the results of the physical outlets are growing. The brand growth recorded in the last quarter shows that the strategic decisions taken in 2022 have started to yield positive results,” says N. Kau\u010dikien\u0117.<\/p>\n\n\n\n
The Group exported 82% of its production<\/strong><\/p>\n\n\n\n
The sales of the largest segment of the Utenos Trikota\u017eas Group, contract manufacturing, decreased by 39.2% to EUR 17.1 million last year. The German-speaking region remains the largest export destination, where Utenos Trikota\u017eas sold products for over EUR 13 million. The Group’s exports accounted for 82.1% of its total revenue last year.<\/p>\n\n\n\n
The search for new export markets and strategic changes in the production portfolio started to show a positive impact at the end of the year, with the current intensity of new inquiries several times higher than at the beginning of last year.<\/p>\n\n\n\n
\n
“The pipeline of new inquiries leads us to expect a return to our growth trajectory in the second half of the year. By focusing on the production of complex, higher value-added products, we are investing much more time in the development phase, which often takes six months, and sometimes even longer, before actual sales materialize,”<\/p>\n\u2013 claims N. Kau\u010dikien\u0117.<\/cite><\/blockquote>\n\n\n\n
Sales of functional-technical clothing produced by \u0160atrija, a subsidiary of Utenos Trikota\u017eas, fell by 6.8% to EUR 2.6 million last year. The Group recorded a pre-tax loss of EUR 2.530 million, while Utenos Trikota\u017eas, as a stand-alone business, reduced its loss by 7.2% to EUR 2.507 million compared to 2022.<\/p>\n\n\n\n
About Utenos Trikota\u017eas<\/strong><\/p>\n\n\n\n
Utenos Trikota\u017eas is one of the largest and sustainable knitwear manufacturers in Central and Eastern Europe. Its specialized focus lies in on-demand ready-to-wear production and jersey fabric development for leading international brands, covering the entire production process from yarn to finished products.<\/p>\n\n\n\n
Utenos Trikota\u017eas Group operates three factories \u2013 Utenos Trikota\u017eas (Lithuania), \u0160atrija (Lithuania) and OAO Mrija (Ukraine). Environmental and social responsibility commitments cover all areas of Utenos Trikota\u017eas’ production and operations \u2013 from organically farmed natural fibers, the use of chemicals in production, to fair pay for employees and absolute transparency in production processes. Utenos Trikota\u017eas is part of the SBA group.<\/p>\n","protected":false},"featured_media":3444,"template":"","naujienu_kategorijos":[23,22],"class_list":["post-3445","naujienos","type-naujienos","status-publish","has-post-thumbnail","hentry","naujienu_kategorijos-financial-results","naujienu_kategorijos-for-investors"],"acf":[],"yoast_head":"\n
Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists\" \/>\n<meta property=\"og:description\" content=\"Last year’s sales were severely affected by the global slowdown in demand, including the textile sector. The SBA Textile Group Utenos Trikota\u017eas generated revenues of EUR 22.2 million in 2023, down 35.7% year-on-year. The last quarter of the year stood out for sales of the company’s owned brand, UTENOS, with a jump of 27.4%. \u201cWe … Continued\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Utenos | Customized Jersey Specialists\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-29T07:47:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ut.lt\/wp-content\/uploads\/2024\/02\/UtenosTrikotazas_3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1597\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/\",\"url\":\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/\",\"name\":\"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists\",\"isPartOf\":{\"@id\":\"https:\/\/www.ut.lt\/en\/#website\"},\"datePublished\":\"2024-02-29T07:47:05+00:00\",\"dateModified\":\"2024-02-29T07:47:16+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Titulinis\",\"item\":\"https:\/\/www.ut.lt\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/www.ut.lt\/en\/news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ut.lt\/en\/#website\",\"url\":\"https:\/\/www.ut.lt\/en\/\",\"name\":\"Utenos | Customized Jersey Specialists\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ut.lt\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/","og_locale":"en_US","og_type":"article","og_title":"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists","og_description":"Last year’s sales were severely affected by the global slowdown in demand, including the textile sector. The SBA Textile Group Utenos Trikota\u017eas generated revenues of EUR 22.2 million in 2023, down 35.7% year-on-year. The last quarter of the year stood out for sales of the company’s owned brand, UTENOS, with a jump of 27.4%. \u201cWe … Continued","og_url":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/","og_site_name":"Utenos | Customized Jersey Specialists","article_modified_time":"2024-02-29T07:47:16+00:00","og_image":[{"width":2400,"height":1597,"url":"https:\/\/www.ut.lt\/wp-content\/uploads\/2024\/02\/UtenosTrikotazas_3.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/","url":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/","name":"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year - Utenos | Customized Jersey Specialists","isPartOf":{"@id":"https:\/\/www.ut.lt\/en\/#website"},"datePublished":"2024-02-29T07:47:05+00:00","dateModified":"2024-02-29T07:47:16+00:00","breadcrumb":{"@id":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazas-group-demand-for-textile-manufacturing-expected-to-recover-in-second-half-of-the-year\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Titulinis","item":"https:\/\/www.ut.lt\/en\/"},{"@type":"ListItem","position":2,"name":"News","item":"https:\/\/www.ut.lt\/en\/news\/"},{"@type":"ListItem","position":3,"name":"Utenos Trikota\u017eas Group: Demand for Textile Manufacturing Expected to Recover in Second Half of the Year"}]},{"@type":"WebSite","@id":"https:\/\/www.ut.lt\/en\/#website","url":"https:\/\/www.ut.lt\/en\/","name":"Utenos | Customized Jersey Specialists","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ut.lt\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/naujienos\/3445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/naujienos"}],"about":[{"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/types\/naujienos"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/media\/3444"}],"wp:attachment":[{"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/media?parent=3445"}],"wp:term":[{"taxonomy":"naujienu_kategorijos","embeddable":true,"href":"https:\/\/www.ut.lt\/en\/wp-json\/wp\/v2\/naujienu_kategorijos?post=3445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"\"](\"https:\/\/www.ut.lt\/wp-content\/uploads\/2024\/02\/UtenosTrikotazas-1024x683.jpg\")
<\/figure>\n\n\n\n