Construction and automotive applications bounced back, as the Asian market for absorbent hygiene got tough.
Fibertex Nonwovens and Fibertex Personal Care, both members of the Danish conglomerate Schouw & Co., reported mixed results for 2023, reflecting the differing fortunes in specific markets for nonwoven fabrics last year.
Reporting a strong performance, Fibertex Nonwovens has just started up the first of two planned new spunlace production lines at its plant in Greenville, South Carolina, with a second line to be installed in Europe at a later date.
The company’s sales for 2023 were DKK 2.158 million, a 5% improvement from DKK 2.060 million in 2022 and EBITDA was DKK 169 million, up from DKK 111 million.
Sales were driven by increased deliveries to the European construction industry combined with enhanced sales of wipes and similar products in the USA. The automotive industry also regained some of its growth momentum late in 2023, the company reports.
The revenue improvement was also the result of an increase in volumes sold, which more than offset the effects of reduced selling prices as a result of the lower prices of raw materials.
Fibertex Nonwovens believes it has the right technology and a promising pipeline and is therefore well positioned. Its short-term goal for 2024 is to build volume while securing sustainable earnings power, to be in a position to implement plans for the coming years and capitalise on the full potential of the capacity-expansion investments made.