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Rieter 2013 EBIT rises more steeply than sales
18
Mar '14
Rieter recorded a pleasing trend in business in the 2013 financial year. The improvement in its market position enabled the company to post significant growth in all key figures – order intake, sales, EBIT and net profit – compared with the previous year. New orders of 1 259.4 million CHF were 50% higher. Sales totaled 1 035.3 million CHF, equivalent to an increase of 17%. 
 
The operating result before interest and taxes (EBIT) rose more steeply than sales – by 84% to 60.2 million CHF, corresponding to 5.8% of sales (3.7% in 2012). Rieter generated net profits of 37.4 million CHF in 2013, equivalent to 3.6% of sales. This figure is 46% higher than the previous year’s outcome (25.7 million CHF or 2.9% in 2012). 
 
Rieter’s balance sheet also developed favorably: while capital expenditure remained high, the company recorded free cash flows of 61.1 million CHF (-32.3 million CHF in 2012). The Board of Directors will propose that a dividend of 3.50 CHF be paid for the 2013 financial year out of the reserve from capital contributions. 
 
The investment program initiated for the years 2012 and 2013 in order to generate further growth was largely completed at year-end. It was already having a positive impact on the trend of business.
 
After a subdued start to the year, the market for short-staple fiber machinery and components gained momentum in the course of 2013. Spinning mills’ margins continued to develop favorably, and this stimulated customers’ willingness to invest. 
 
This positive trend was broad-based in regional terms and apparent in a large number of national markets. Following a strong initial six months, demand stabilized in the second half of the year, but remained at a plea-singly high level.
 
The positive trend in order intake and sales in 2013 underlines that Rieter is on the right track with the innovation and expansion strategy it has been implementing since 2012. Demand for the company’s offering, expanded by major product launches, has been very strong in both traditional and new markets. 
 
Rieter has further developed its already strong market position with the implementation of the large-scale 2012/2013 investment program aimed at further growth and focusing on the three priorities of expansion in Asia, innovation and process improvements. With its product range centering on specific markets and its new plants, the company is ideally positioned with a worldwide operating network. 
 
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