Picanol NV is a Belgium-based company engaged in the development, production and sale of weaving machines and other high-tech, industrial products, systems and services. The Company operates through two divisions: Division Weaving Machines and Division Industries. Weaving Solutions (Picanol) develops, manufactures and sells high-tech weaving machines. It supplies weaving machines to weaving mills worldwide, and also offers products and services as weaving accessories, training, upgrade kits and spare parts. The Division Industries through Proferro comprises all foundry activities and the group's machining activities. It produces cast iron parts for e.g. compressors, pumps and agricultural machinery, and parts for Picanol weaving machines. Through PsiControl Mechatronics, the Group specializes in the design, development, manufacturing and support of technological components, services and mechatronical system solutions for original equipment manufacturers in various industries.

Sales Analysis. Picanol NV reported sales of 2.19 billion Euro (US$2.60 billion) for the year ending December of 2020. This represents a decrease of 1.5% versus 2019, when the company's sales were 2.22 billion Euro. Contributing to the drop in overall sales was the 5.7% decline in Machines and Technologies, from 478.40 million Euro to 451.30 million Euro. There were also decreases in sales in Agro (down 3.3% to 583.70 million Euro) and Industrial Solutions (down 4.1% to 509.50 million Euro) and T-Power (down 2.3% to 69.50 million Euro) . However, these declines were partially offset by the increase in sales of Bio-Valorization (up 6.0% to 575.70 million Euro) .