Nextil records positive EBITDA, turnover increases by 13.5 percent

European textile group Nextil recorded a positive comparable EBITDA of 0.3 million euros in the first quarter of the year, after deducting non-recurring expenses in this period.

The company said in a statement that EBITDA for the quarter was 0.02 million euros, compared to 0.4 million euros in the same period of the previous year due to the expenses for the new factory in Guatemala and the substantial increase in the cost of raw materials, energy and transport, which could not be fully passed on to customers.

The company’s turnover reached 15.5 million euros, up 13.5 percent compared to the same quarter last year.

During this first quarter, the company added, the business was also affected by tensions in the supply chain due to the war in Ukraine and the closure of ports in China due to the pandemic.

Nextil’s garments unit generated 0.4 million euros of EBITDA in the first quarter, compared to 1.4 million euros in the same period last year. The fabric unit recorded an EBITDA of negative 0.1 million euros compared to negative 0.7 million euros in the previous year.

In January, Nextil acquired the Portuguese firm Keupe, specialising in luxury garments to increase its production capacity in this segment.