During the first half of the year, the Utenos Trikotažas Group successfully realized orders and provided services amounting to
The Utenos Trikotažas Group concluded the half-year with a pre-tax loss of
"Like all manufacturing industries in
A 15% Increase in Production Efficiency
In a period of slowing sales, the company's resources have been directed towards improving production efficiency. Changes implemented throughout the entire production chain in the second quarter of the year alone allowed Utenos Trikotažas to reduce the duration of production processes by as much as 15%, optimize its operations, and despite a significant drop in sales, incur significantly fewer losses than in the previous year.
"We are now in an excellent position to implement changes in the company's business strategy to respond to new market demands. For some time now, we have been witnessing a renaissance of wool as a more sustainable alternative to the most widely used cotton, with wool being the fiber of choice for cutting-edge fashion, sports, and even underwear brands. In addition to wool innovations, Utenos Trikotažas is expanding its assortment with new functional, sustainable, certified materials made of organic cotton, linen, and hemp fibers," – Nomeda Kaučikienė lists the strategic directions.
Based on the current orders of Utenos Trikotažas, it is likely that by the end of the year, the decline in sales will be partially offset, and sales growth is expected by 2024.
Least Affected Markets – German-speaking Countries
During the first half of the year, Utenos Trikotažas exported 75.4% of its production, amounting to
According to Nomeda Kaučikienė, fluctuations in demand and production volumes are cyclical in the clothing industry, and it is expected that growth trends will be noticeable later this year.
About the Company
Utenos Trikotažas is the largest and one of the most sustainable knitwear production groups in Central and
Environmental and social responsibility commitments cover all areas of Utenos Trikotažas' production and operations – from organically farmed natural fibers, the use of chemicals in production, to fair pay for employees and absolute transparency in production processes. The Utenos Trikotažas Group also comprises
More information:
Head of Finance
M.: 8 618 07809
E.: aurimas.likus@sba.lt
Attachments
- Confirmation of responsible persons 2023 IIQ_pasirasyta
- 2023 IH Interim report_EN
- Pusmetinis pranesimas_2023 I_EN_N
© OMX, source