The Utenos trikotažas group of companies earned EUR 0,6 million in pre-tax profit and increased sales by 26,1 per cent in the first half of 2018.
Utenos trikotažas the largest textile group in Central and Eastern Europe consolidated revenues reached EUR 14,6 million in the first half of 2018 which was 26,1 per cent more than during the same period in 2017. The company’s sales reached EUR 13 million and grew by 32,3 per cent during the first half of 2018 as compared to the same period last year.
Consistent sales growth enabled to almost triple the Group pre-tax profits. In the first half of 2018 profit before taxes was up to EUR 0,6 million and the Group EBITDA reached EUR 0,9 million an increase of 34,6 per cent as compared to the same period last.
Sales of on-demand jersey garments are the primary growth engine
On-demand jersey garments sales accounted for EUR 11,4 million in the first half year which was 36 per cent higher than last year. Rapid growth recorded in the main export regions like Scandinavia and German-speaking countries (DACH) with sales increasing by 39,2 and 36,2 per cent respectively. Group exported EUR 12 million in total which made up 82,7 per cent of the total Group revenue.
Sales of own brands UTENOS and ABOUT has posted a strong increase of 18,7 percent in the second quarter of 2018. For the first half of the year sales of own brands accounted for EUR 1,7 million up 10,2 per cent from last year. Revenue from functional-technical garments manufacturing services of subsidiary Šatrija in the first half year stood at EUR 1,5 million (8,7 per cent less than the previous year).
Sales growth is expected to continue
“As expected, we kept strong sales growth in the second quarter. Even though the second quarter is usually weaker due to seasonality, “Utenos trikotažas” group managed to keep higher production volume and remained profitable despite significant increases in expenses for raw materials and wages. Orders on-hand for the third quarter indicate significant sales growth to continue”, - says Algirdas Šabūnas, CEO of Utenos trikotažas.