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The listed textile company Linz Textil increased its sales by six percent from 92.5 to 98 million euros in the past financial year, purely for price reasons. The price increases were passed on to customers. Earnings before taxes rose from 3.7 to 3.9 million euros (plus seven percent), according to the financial report.
The result from ordinary activities (EGT) increased by 1.86 to 3.95 million euros. The company owes the significant increase in earnings not only to price increases, but also to lower depreciation and profits from asset sales. Linz Textil primarily sells semi-finished textile products (yarns, raw fabrics). Sales of finished products such as bath towels and bathrobes (Vossen) fell by 3.5 percent to just under 33 million euros.
This is mainly due to the 28 percent weaker Internet business. The online shop is to be revised and rolled out to new markets in Europe.
With regard to the “spinnerei design hotel” with 115 rooms, which belongs to Linz Textil, there are considerations about changing the concept or selling the hotel, according to the annual report.
In the weaving mill in Linz, raw fabrics for technical applications and home textiles are woven from cotton, viscose, Tencel, polyester and linen. The production volume was almost 10.2 million running meters (10.9).
The cotton spinning mill in Landeck in Tyrol ceased production in March 2023 as planned. A social plan of 375,000 euros was drawn up for the employees together with the employee representatives. After the production facilities have been sold, the factory halls are rented out on a long-term basis.
Despite a challenging business environment, the Management Board, Friedrich Schopf and Eveline Jungwirth, are assuming a “positive result in 2023”. The long-time boss Dionys Lehner, who managed the company until 2016, died as reported at the end of April. Linz Textil employed 514 (after 532) people.
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