2023-05-01 11:08:00
The bottom line, however, is that the group made a profit of EUR 3.78 million – 21.7 percent more than in 2021. The group increased sales by 5.9 percent to EUR 97.97 million, according to the Linz financial report -Textile group.
Around two thirds of the total turnover was accounted for by the “Semi-finished textile products” segment. Although sales volumes fell, sales increased by 11.3 percent thanks to price increases. The result from ordinary activities (EGT) increased by 1.86 to 3.95 million euros. The Linz Textil Group owes the significant increase in earnings not only to the price increases, but also to lower depreciation and profits from the sale of equipment.
On the other hand, sales in the “finished textile products” segment fell by 3.5 percent to just under EUR 33 million. The decline is mainly due to the 28 percent weaker e-commerce business. But the lower frequency in the Austrian specialist trade also had a negative effect with a drop in sales of 8 percent. And the licensed brands saw a 23 percent drop in sales. Here the POA collapsed by EUR 2.35 million to EUR 1.48 million. This is mainly due to lower sales and increased energy costs.
The POA in the “Real Estate” segment developed positively: it was EUR 2.19 million higher than in the previous year. On the one hand, there was an extraordinary depreciation of the rented hotel property in 2021 in the amount of EUR 1.39 million. In addition, Linz Textil achieved a capital gain from the sale of a property in Reutte in the amount of EUR 312,000 in the previous year.
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