Picanol Group announced audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported sales of EUR 639,778,000 against EUR 529,344,000 a year ago. Operating result was EUR 120,981,000 against EUR 83,578,000 a year ago. Total interest income was EUR 2,785,000 against EUR 2,802,000 a year ago. Profit before taxes was EUR 121,765,000 against EUR 84,682,000 a year ago. Profit after taxes was EUR 88,383,000 against EUR 60,603,000 a year ago. Profit was EUR 119,725,000 against EUR 85,692,000 a year ago. Net operating cash flow was EUR 81,723,000 against EUR 86,875,000 a year ago. Acquisitions of tangible and intangible fixed assets were EUR 7,456,000 against EUR 8,109,000 a year ago. Operating result per share was EUR 6.83 against EUR 4.72 a year ago. Profit before taxes per share was EUR 6.88 against EUR 4.78 a year ago. Basic and diluted earnings per share were EUR 6.76 against EUR 4.84 a year ago. The turnover of the company increased in 2016 by 24% compared to 2015 driven by the strong order book for weaving machines in 2016.

For the first six months of 2017, the order book is well-filled. The company expects a slight increase in turnover for the first half of 2017 compared to the first half of 2016, but is taking into account a limited impact of rising commodity prices.