Almost three-fold increase in Rieter Textile Systems orders
The recovery in the textile machinery and automotive markets that had started in the second half of 2009 continued in 2010. Despite the usual seasonal effects at Automotive Systems in the second six months, demand over the course of the year as a whole was at a considerably higher level than in the previous year.
Orders received by the Rieter Group in the 2010 financial year totaled 3'170.0 million CHF. Compared to the previous year's figure, this corresponded to an increase of 64% (1'935.1 million CHFin 2009). The trend in order intake was dynamic throughout the year. The steep rise compared with the previous year was due primarily to very strong demand at Textile Systems.The 32% increase in sales by the Rieter Group was less than the growth in orders received due to the low order volume in the previous year. Sales were slightly higher in the second half of the year than in the first six months and totaled 2'585.8 million CHF (1'956.3 million CHF in 2009). Exchange rate trends adversely affected both key figures, especially in the second half. In local currency terms, orders received and sales increased by 68% and 36%, respectively, in the year under review. Based on exchange rates prevailing in 2007, consolidated sales would currently already be 2.9 billion CHF again.
Rieter Textile Systems:
almost three-fold increase in orders received
The world market for spinning machinery and components recorded a strong recovery with a broad regional base in the year under review, following two years of conspicuously weak demand. The main markets for Rieter were China, India and Turkey. There was also a large volume of demand from Bangladesh, Brazil, Indonesia,
Pakistan, South Korea, and also the USA. The upswing was driven by investment demand for replacements and expansion as well as strong growth in textile consumption in the major Asian markets. Rieter Textile Systems successfully exploited the positive trend due to its strong market position, increasingly also in machinery
and technology components which are adapted to local needs in emerging markets.
Orders received by Rieter Textile Systems rose from 510.8 million
CHF in the previous year to 1'454.6 million CHF, corresponding to an almost three-fold increase. The trend in order intake was uniformly positive throughout the financial year. Sales growth was especially strong in the second half, and in the year as a whole revenue rose by 64% to 870.4 million CHF (532.0 millionCHF in 2009). Order intake and sales were adversely affected by exchange rate trends. In local currency terms, orders received and sales increased by 188% and 67%, respectively.
As the leading supplier of integrated systems for short staple spinning mills and technology components, Rieter Textile Systemsis continuing to expand its capacity and product portfolio
in the large Asian markets. In the year under review the Textile Division continuously developed further products and components designed to meet the specific needs of these markets, focusing its innovation efforts on applications and solutions for new types of yarn, higher productivity of the systems, optimum utilization of raw material and energy efficiency.