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Despite a drop in sales: Linz Textil with more profit

The Linz-Textil board members Friedrich Schopf and Eveline Jungwirth.

(Bild: Krone KREATIV/Vossen GmbH & Co KG, Linz Textil)

The 2024 financial year will be both challenging and demanding - that is what Linz Textil expects, as it announced in its annual report published on Tuesday. Despite all the challenges, the company managed to increase its profit in the previous year - to EUR 4.577 million.

The cotton spinning mill in Landeck was closed at the end of March 2023, in addition to the decline in sales of yarns and raw fabrics - all of which caused Linz Textil's turnover to fall to EUR 73.864 million in the previous year. On the other hand, the annual result rose - by more than one million euros to 4.577 million euros.

Linz Textil is and remains a company with a high degree of resilience, long-term and reliable customer and supplier networks and a stable capital base.

Aus dem Linz-Textil-Geschäftsbericht 2023

IT problems caused delays
The Management Board led by Friedrich Schopf and Eveline Jungwirth was thus able to draw a consistently positive balance sheet. However, the challenges remain high, as can be seen from the annual report. Unexpected events also have to be overcome time and again: Most recently, for example, massive IT problems at terry towel manufacturer Vossen caused delays.

Almost 80 fewer employees
There was a sharp decline in personnel: at the end of 2023, Linz Textil had 427 employees, which is a decrease of almost 80 employees compared to the previous year. The closure of production in Landeck is cited as the reason for this. The annual report also mentions staff cuts and machine shutdowns at the viscose spinning mill in Croatia, as well as a switch from a four-shift to a three-shift model at the weaving mill in Linz.

Speaking of Landeck: the production facilities here have now also been utilized. The task now is to ensure the long-term reuse of the company premises in Tyrol.