Rieter Textile Systems records significant growth in 2007

31 Jan '08

3 min read

The Rieter Group recorded further increases in sales and orders received in the 2007 financial year against the backdrop of the high volumes already achieved in 2006. Order intake rose to 4 066.4 million CHF, 7% above the previous year's figure, and sales of 3 930.1 million CHF were 12% higher. Both figures were new records for Rieter.

The global economy as a whole developed positively in 2007. Growth momentum was a characteristic feature in all major industrialized countries as well as in the emerging markets in Asia and Latin America. Rieter took advantage of this development in both divisions. The markets served by the two divisions of the Rieter Group, Textile Systems and Automotive Systems, recorded significant growth in the year under review. The investment climate on the world market for textile machinery was very favorable in the first six months in particular.

Vehicle output by the automotive industry increased worldwide. In Rieter's principal markets vehicle production rose in Western Europe, but was slightly lower in North America. The countries in Eastern Europe, Asia and Latin America recorded strong growth. Orders received by the Rieter Group increased by 7% to 4 066.4 million CHF in 2007, thus exceeding 4 billion CHF for the first time. Both divisions contributed to this development.

Rieter's sales rose by 12% to 3 930.1 million CHF. This good performance is attributable entirely to organic growth, which was resolutely pursued in both divisions. Exchange rate movements had a slightly positive impact on group sales.

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