Despite the rise in raw materials and energy prices, profitability significantly improved for Nextil in Q3/2021 with an EBITDA of €3.2 million, 498% higher than in the same period of the previous year. Sales grew by 50%, reaching €44.8 million in the 3rd quarter (Q3) and now account for 80% of the 2019 turnover despite exiting the fast fashion segment.
Nextil Group, Barcelona/Spain, one of the largest groups in the European textile industry, obtained a positive operating profit of €0.048 million in the first 9 months of 2021, compared with a loss of €8 million in the same period of the previous year.
Both the business unit (BU) Fabrics and the BU Garment significantly improved their sales and profitability.
The BU Garment achieved €2.4 million EBITDA in Q3/2021 (Q3/2020: €0.6 million), with a sales increase of over 57% compared to the previous year. The EBITDA margin grew from 20.8% in 2019 to 26.7% in 2021.
In BU Fabrics, EBITDA was € -1.1 million compared to -1.4 million in 2020, an improvement of 22%. Sales in the Fabrics unit grew by 34% but could have been higher as the order backlog increased by 180% compared to 2019. However, ongoing yarn supply chain outages in both Europe and the Americas forced intermittent closures that prevented us from meeting full demand.