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Vetex (North Macedonia) exported 4.2 million euros worth of yarn and thread in the first 9 months of 2024

04 december 2024

In English, In Macedonian, In Albanian, In Serbian, In Romanian, In Bulgarian

 

The North Macedonian company Vetex from Veles managed to achieve impressive success, exporting 4.2 million euros worth of yarn and thread in just nine months, BalkanEngineer.com has learned from faktor.mk. This makes it one of the leading names in the country's textile industry and a strong competitor in the international market.

 


Vertex is an example of success in North Macedonia's textile industry, exporting 4.24 million euros worth of yarn and thread in the first nine months of 2024. This represents an increase of 10% compared to the same period last year, with 99% of revenues coming from international markets including Germany, Austria, Switzerland, Denmark, France and the Netherlands. Domestic sales were down 46% at just 40 000 euros, underlining the company's all-out export orientation.


Vetex's operating expenses for the same period reached 4.1 million euros, with the largest share - 2.2 million euros - taken up by raw materials and supplies, representing an increase of only 4% over the previous year. Significant growth was seen in personnel costs, which rose by 20% to 971 000 euros, reflecting increased salaries and new appointments. Operating profit doubled last year to 187 000 euros, while net profit rose 76% to €176,000.


An interesting fact is that Vetex has no significant financial liabilities - the cost of loans and borrowings is less than 2 500 euros for the period, which guarantees stable liquidity. With the production of yarns and threads since 1989, Vetex remains one of the few surviving textile companies to have successfully weathered the economic challenges of the transition.


The company's product range includes cotton sewing threads, knitting yarns, and crochet threads made from materials such as cotton, linen, wool, silk and synthetic fibres.

 

Photo source: Engineer.bg via Canva.com

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