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H1 order intake climbs 32% at Rieter
21
Jul '16
Order intake at Switzerland headquartered spinning technologies manufacturer Rieter climbed 32 per cent year over year to CHF 510.7 million in the first half of 2016.

Rieter was able to acquire large orders for spinning systems and orders received by the Machines & Systems Business Group surged significantly by 52 per cent year on year.

The order book position was also as expected by Rieter, significantly higher than sales of CHF 436.9 million in the six month period to June 30, 2016 as against CHF 553.9 million in the first half of 2015.

In the period under review, the company reported EBITDA of CHF 34.4 million or 7.9 per cent of sales compared to CHF 66.0 million or 11.9 per cent of sales in the corresponding period of the prior year.

EBIT totaled to CHF 15.7 million while EBIT margin stood at 3.6 per cent in the reporting period, down from CHF 46.1 million and 8.3 per cent, respectively.

In the first half of 2016, Rieter posted a net profit of CHF 11.0 million or 2.5 per cent of sales, a steep slide from CHF 29.1 million or 5.3 per cent in the first half of 2015. (AR)

Fibre2fashion News Desk - India

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