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Rieter H1 EBITDA shoots up 41% to CHF 48.4mn
23
Jul '14
Rieter announces first half results for 2014. The market environment in which Rieter operates was consistently favorable in the first half of 2014. Rieter received 655.5 million CHF of new orders in the first six months of 2014, which is lower than last year’s very good figure (711.4 million CHF), but substantially higher than in the second half of 2013. Sales rose by 9% to 522.1 million CHF (478.1 million CHF in the first half of 2013). EBITDA in the period under review rose to 48.4 million CHF (34.3 million CHF in the first half of 2013). The operating result before interest and taxes (EBIT) amounted to 28.8 million CHF, an increase of 68% (17.1 million CHF in the first half of 2013). 
 
Higher profitability at both Business Groups boosted the group’s operating margin from 3.6% to 5.5% of sales. Rieter closed the first half of 2014 with significantly higher net profits of 14.3 million CHF or 2.7% of sales, respectively (5.0 million CHF or 1.0% of sales in the first half of 2013). Rieter had established additional capacity in China and India in the context of its 2012/2013 investment program. This contributed substantially to the company’s development in the first half of 2014.
 
The world market for staple fiber machinery and components for Rieter continued to develop favorably in the first half of 2014. At the same time regional variations in momentum persisted. Following the implementation of the 2012/2013 investment program, Rieter is in a strong position and took full advantage of the generally encouraging business environment.
 
In China the market for staple fiber machinery was tight due to the credit situation for spinning mills and the high cost of raw materials. The market for viscose yarns, where Rieter supplies manufacturers with semi-automatic rotor spinning machines, also remained subdued. On the other hand, demand for ring spinning machines was good. Substantial parts of machines delivered in China were also produced locally.
 
In order to supply the Chinese textile market, spinning mills have made major investments in facilities located in other Asian countries, such as Vietnam. In the period under review, Rieter secured substantial orders in these countries as well as in Turkey and the US.
 
In India the market was slightly more dynamic than in the second half of 2013. However, conditions remained challenging, due especially to the currency situation and reluctance to invest ahead of the elections in spring.
 
Click here to view full results.
 
 

Rieter

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