Nextil posts 13.8 percent drop in Q1 turnover
European textile industry player Nextil, owner of brands such as Treiss, EFA, Ritex, Sici93, Playvest, Anna Llop and Dogi, said that its EBITDA reached 1 million euros in the first quarter, a decrease of 0.5 million euros compared to the same period last year, despite much of the commercial activity has stopped since February in some markets, such as China and Italy, due to the outbreak of Covid-19. The company added that turnover for the first three months of the year was 21.1 million euros, down 13.8 percent, which is expected to recover from the second half of the year. Net financial debt at March 31, stood at 49.5 million euros, 1.3 million euros more than at the end of 2019.
The company added that its fabrics unit has been the most affected by the Covid-19 situation, with a 27 percent drop in sales and an EBITDA of negative 0.6 million euros, as the halt in activity in China since February led to a lack of availability of fabrics. However, the good performance of EFA in the USA and restructuring initiated in this company in the second half of 2019, with significant improvements in performance, quality and service, has led to a recovery in EBITDA of 0.4 million euros.
The company’s garment unit maintained its turnover at 11.3 million euros, down 2.5 percent against the same period last year. Turnover in SICI93 increased by 79 percent, reflecting the sustained growth in that company; while in Playvest it remained constant with respect to 2019; and in Treiss it fell to 1.8 million euros. EBITDA was positive at 1.7 million euros, 0.2 million below the previous year.