NEWS
Simona sees first-half sales and profits slide
Simona of Germany saw a dip in both sales and profits for the first half of the year. The company reported
sales of €320 million (US$350m) – a decrease of around 12% compared to the same period last year. Profitability (EBIT) fell by around 10% to just under €26m (US$28m).
Simona saw a decline in
two of the three regions in which it operates. In EMEA, sales shrank by 16% to €199m (US$218). This was driven mainly by reduced demand across the board. Profitability in EMEA fell to €5.8m (US$6.3m) – about half of value of the same period in 2022. Sales in this region mainly comprise pipes and profiles. In the Americas, sales fell
by nearly 7% to €95m (US$104m), due mainly to
Schönberg: “Tumbling commodity prices are exerting downward pressure on our sales prices”
declines in its industrial products and outdoor & leisure businesses. However, EBIT jumped upwards by around 23% to reach nearly €20m (US$22m). The region’s main business is in thermoplastic sheet for aircraft interiors. In Asia-Pacific, sales grew
nearly 3% to exceed €25m (US$27m). Growth was driven by the semiconduc- tor and photovoltaic industries, while the rest of the industrial products business remained stable. “We clearly felt the effects
of a lacklustre global economy in the first six months of the year,” said Matthias Schönberg, CEO of Simona. “Tumbling com- modity prices are exerting downward pressure on our sales prices.”
Simona does not antici-
pate much improvement in global demand, so has lowered its full-year revenue guidance from €650-675m to €610-630m – down 6-7%. “Based on our earnings performance to date, we are retaining our forecast of an EBIT margin of 6-8%. �
www.simona.de
IMAGE: TEEL PLASTICS
A 600ft stretch of steel pipe – suspended over a canal in Louisiana, USA – has been replaced with polyamide 12 pipe from Teel Plastics. The pipe is used to transport gas under pressure. Zachary Gas Utility District #1 ordered 1,000ft of 4in PA12 pipe. During installation, 40ft pipe segments were laid out and fused together before being pulled underground – through a new tunnel dug underneath the canal. The full length of fused pipe was pressure tested to 252psi and showed no leaks. �
www.teel.com
Polypipe sales and profits down
UK-based Genuit, which owns Polypipe, reported a decline in both sales and profits in H1 2023. Sales reached nearly £305 million (US$384m), a 4% fall compared to H1 2022. This led to a pre-tax profit of nearly £30m (US$38m) – around 10% lower than in 2022. The company said the decline was due to a 15% dip in sales volume. “Genuit has made good
progress in the first half of the year,” said Joe Vorih, CEO of Genuit. “We improved operating margin despite deteriorat- ing market conditions.” Revenues fell in both the sustainable building and water management divisions, by 11% and 4%, respectively. In climate management, sales rose by 9%. Due to a cyber- incident in the division last year, the company has “invested heavily in cyber defence and insurance”. In H1 this year, recycled
materials accounted for over 48% of all the company’s material use, up from 47% in H1 2022. The company plans to increase this to 62% by 2025. �
www.polypipe.com
Primo opens technology centre in Denmark
Danish profiles manufacturer Primo has opened a new technology and innovation centre in Denmark. The centre, at Primo’s factory in south-west Denmark, will serve as its
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focus for materials development, sustainability and production technolo- gies in extrusion, digitalisation and automation. The centre includes specialised
PIPE & PROFILE EXTRUSION | September 2023
production lines dedicated to develop- ment and testing – and will house the in-house tooling department, according
to the company. �
www.primo.com
www.pipeandprofile.com
IMAGE: SIMONA
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