Jeanologia reports 55% revenue growth in 2021, profit hits €16 million
In addition, the company recorded a profit of close to €16 million, compared to €4.2 million in 2020, as reported by local media outlet Valencia Plaza based on the accounts deposited in the Mercantile Registry.
These results have brought Jeanologia close to pre-pandemic levels, albeit still short of them (turnover in 2019 stood at €104.5 million) as the health crisis had a major impact on production volumes and the company’s financial statements.
As a result of its improved performance, the Valencia-based tech company repaid the funding sought in fiscal year 2020 and restored the equity balance of its Italian subsidiary, which had generated losses of €3.6 million during the pandemic, according to the media outlet.
In 2021, the company committed to strengthening its ‘Eco’ line and presented new solutions for reducing water consumption in garment dyeing, as well as a new model for on-demand production and a tool for measuring sustainability in denim.
Founded in 1993 by Enrique Silla, Jeanologia is based in Paterna, Valencia, and employs 250 people across its 10 subsidiaries. Exports of its machines and services account for 90% of its turnover and, according to its figures, and 35% of the 5,000 million jeans manufactured each year in the world employ its technologies. The company works with brands such as DieselPepe JeansGapUniqloH&M