Nextil: + 8% sales for 2021

+ 8% sales for 2021

(Source: Nextil)
(Source: Nextil)

Nextil closed 2021 with sales of €63.4 million, 8% more than in the previous year, and achieved an EBITDA of €4.7 million compared to the negative EBITDA of €8.9 million recorded in 2020. This improvement was possible despite supply chain disruptions due to the shutdown in China and the exponential rise in raw material, energy and transport prices, which had a negative impact of around €1 million.
The optimization measures implemented in the company during the last fiscal year, both operational and strategic, and the focus on higher value-added segments allowed for a substantial recovery in profitability levels. Thus, the EBITDA margin was 7.4%, already exceeding pre-pandemic levels (3.2% in fiscal 2019) and well above the negative percentage of 2020 (-15.3%).
EBIT in 2021 was almost €918,000, compared with a loss of €22 million in 2020, confirming the recovery trend.
Nextil Group, Barcelona/Spain, seeks to consolidate this sustainable growth through a strategy that has 4 main axes: nearshore production, service excellence, development of more sustainable products and technical innovation.
This strategy is also supported by the new production center that the company is building in Guatemala with the aim of optimizing production costs, obtaining European and US certifications and opening the supply to volumes that are currently manufactured in Asia. The first of the 2 plants is expected to be operational in August 2021 and in full operation as of May 2023.
However, the group’s factory in El Masnou (Barcelona) will cease operations, since it has not been possible to solve the technical problems which have been dragging on for some years. In addition, it has been difficult to pass on the increase in the cost of raw materials and energy to the customer, which has significantly eroded margins.
Finally, the appointments of Jorge Fernández Miret as a proprietary director (consejero dominical), as well as that of Richard Rechter Leib as an independent board member, have been approved, and Eduardo Navarro Zamora has been ratified as a proprietary director (consejero dominical).

Your Newsletter for the Textile Industry

From the industry for the industry – sign up for your free newsletter now

To differentiate your newsletter registration from that of a bot, please additionally answer this question: