Nextil: Q2/2021 sales +120%

Q2/2021 sales +120%

(Source: Pexels)
(Source: Pexels)

Nextil, one of the largest industrial textile groups in Europe, in the first half of the year (H1/2021) obtained an EBITDA of € 2.8 million in comparable terms, 103% more than in the same period of 2020. Nextil Group, Barcelona/Spain, manufactures fabrics and garments for fashion companies in the fashion, swimwear, athletics and lingerie sectors. It has 4 factories in Spain, Portugal and the USA.

The results for the 2nd quarter (Q2) of the year show a clear trend of recovery: EBITDA for this period was €2.3 million, compared to €0.3 million in Q2/2020, up 668%; and 64% higher than in the same period of 2019, which was €1.4 million.

H1/2021 sales reached €30.2 million (-13%), but Q2 turnover was 120% higher than in Q2/2020. The strong sales growth from the 2nd quarter onwards reflects a trend that is expected to consolidate in the second part of the year due to the backlog in the garment and fabric units.

In parallel, the group is completing the financing phase for the start-up of the new factory in Guatemala, a 25,000 m² plant that will be operational in the Q1/2023 and whose strategic geographical location will allow the company to access the market of large productions competing with Asian suppliers, as well as to make profitable those current items that are in deficit, obtaining maximum efficiencies in logistics and distribution, with preferential tariff access.

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