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2019 October 31

Utenos trikotažas Group‘s sales reached EUR 23,7: growing DACH region and own brands

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Utenos trikotazas Group sales of products and services reached EUR 23,7 million over first three quarters of 2019 – almost as much as at the same time in 2018. The Company's alone revenues amounted to EUR 20,8 mln. or 1,7 % less than last year. Revenue from the production of functional-technical garments provided by Šatrija AB increased by 13,5 % up to 2,77 million. 

During nine months of 2019 the Group earned EUR 0,58 mln. pre-tax profit, while in 2018 it recorded a profit of EUR 1,2 million. The group’s EBITDA amounted to EUR 1,12 million, which is by 40,3 % less than last year.

“We observe that slowing economies across EU have a negative impact on sales of clothes in Europe that subsequently raise many difficulties for a number of brands. Our 3rd quarter sales have been lower than last year due to decreased volumes of orders from few our customers in Scandinavia that face declining sales. Despite the negative macroeconomic environment, we manage to grow our business with new export customers, mainly in DACH region, and further development of our own brands ABOUT and UTENOS. Orders on hand for the last quarter are good and we expect to close the year with some growth" – comments Algirdas Šabūnas, CEO of Utenos trikotazas.

Rapid growth of 16,5 % recorded in German-speaking countries (DACH) – the main export region of the Group. Meanwhile in Lithuania the sales increased by 18 % comparing to last year. Sales of own brands UTENOS and ABOUT after the third quarter have posted an increase of 9,3 % up to 2,9 million.

“We will continue focusing on our strengths – on-demand jersey garments and higher value-added products. Our newest developments include materials with soy, seaweed, coffee grounds or mint. Unconventional solutions and textile innovations attract sustainable clients and stands out on the competitive market” – A. Šabūnas added.