Nextil : Upward trend in sales continues +13...

Upward trend in sales continues +13.5%

(Source: Nextil)
(Source: Nextil)

In the 1st quarter of 2022, a positive comparable EBITDA of €0.3 million (Q1/2021: €0.4 million) was recorded by Nextil, after deducting non-recurring expenses in this period. This was mainly due to the expenses generated by the start-up of the new factory in Guatemala and the substantial increase in the cost of raw materials, energy and transport, which could not be fully passed on to customers.  
Once the new plant in Guatemala comes on stream in Q1/2023, the cost structure will be optimized with respect to the current centers of Nextil Group, Barcelona/Spain, which will have a positive impact on profitability.
The upward trend in sales continued, with sales of €15.5m, up 13.5% in Q1/2021. During Q1/2022, the business has been affected by tensions in the supply chain derived from the war in Ukraine and the closure of ports in China due to the pandemic.  
In Q1/2022 the Garments Unit generated €0.4 million of EBITDA (Q1/2021: € 1.4 million). Turnover is expected to recover in the 2nd half of the year.  
The Fabric Unit recorded an EBITDA of € -0.1 million, compared to € -0.7 million the previous year.  EBITDA reflects the impact of higher raw material, energy and personnel costs, which have not yet been passed on to customers.
Stripping out non-recurring effects, the weaving unit's EBITDA would be higher than last year's, given that sales were 47.8% higher than in the same period of 2021.
In January 2022, Nextil acquired Keupe Unipessola, Lda., Ponte de Lima/Portugal, specializing in luxury garments, to increase its production capacity in this segment.

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