RadiciGroup: Good FY2020 results thanks to ne...

Good FY2020 results thanks to new investments

(Source: RadiciGroup)
(Source: RadiciGroup)

RadiciGroup with 3,000 employees in 15 countries worldwide, closed its 2020 financial year with sales decreased to € 1.02 billion (-6.7%). On the other hand, EBITDA reached € 173 million, up 4.4% compared to the prior year.

2020 was inevitably impacted by the corona pandemic. There was a drastic drop in demand during the first half (H1) of the year after a lockdown was imposed, followed by a good recovery from September-November 2020, which was, however, somewhat slowed down in December by an upsurge in the contagion rate. The Advanced Textile Solutions business area (BA) of RadiciGroup, Gandino/Italy, was more affected than the other BAs in the company, in line with the performance trend of the textiles sector nationwide.

The year 2021 got off to a positive start: in the first quarter (Q1), sales and gross operating margin went up in almost all business sectors, despite the large increase in the cost of raw materials observed in the same time period. Notwithstanding, the company set out a € 50 million investment plan in 2020 to upgrade the technology and flexibility of its production lines, as well as the sustainability of its products and processes. € 240 million were invested to meet the technological challenges of industrial development.

Radici InNova, established in 2019 with the purpose of managing and coordinating all the Group’s R&D activities, became fully operational in 2020 and started experimentation on a number of projects of strategic importance.

Additionally, in the area of new applications, a number of projects were launched to develop new materials for the automotive sector, additive manufacturing and 3D printing. Other projects underway are related to the circular economy and the recycling and recovery of materials for reuse in the production of textiles and engineering polymers. Still another area of research and development involves the study of developing polyamides from renewable source materials.

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