The Manmade Fibers Segment of Oerlikon Management AG, Pfäffikon/Switzerland, delivered a resilient performance despite the corona virus pandemic, driven by the recovery of the filament equipment business in China and a diversified portfolio in products such as nonwovens, staple fibers, polycondensation and smart factory solutions.
In the 2nd quarter (Q2) of 2020, a significant increase in order intake was recorded, attributed to a quick recovery in demand in China and the rest of Asia and the increasing demand for the nonwoven meltblown systems used in face mask production. For the half-year H1/2020, the man-made fibers business booked more than CHF 500 million in order intake and is on track to fulfill its delivery schedules for 2020.
Sales declined by 22.8% in Q2/2020, mainly due to the extraordinarily high sales volume in Q2/2019. At constant exchange rates, sales declined by 17.7% to CHF 264 million. Sales in China were stable in Q2/2020 year-over-year, affirming the recovery in China from the shutdowns in Q1/2020. EBIT was CHF 30 million or 12.1% of sales (Q2/2019: CHF 51 million; 15.7%).
The nonwovens market is anticipated to continue developing positively, as many countries strive to become more strategically autonomous for items deemed critical.