Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
Order intake in the business group machines & systems declined 34 per cent, it also fell 34 per cent in the components and 32 per cent in the after sales. The order backlog for H1 FY20 was around CHF 490 million (CHF 295 million). Cancellations were less than 5 per cent.
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
With the exception of Turkey, sales in all regions dropped due to the Covid-19 pandemic. In India, sales declined 73 per cent to CHF 17.7 million (CHF 66.7 million) due to the lockdown. In the Asian countries, China (CHF 37.0 million) and North and South America (CHF 30.9 million), sales decreased between 44 per cent and 49 per cent compared to the first half of 2019. In Africa, sales declined by 20 per cent.
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
Europe (CHF 23.6 million) was slightly above the prior year level. With sales of CHF 51.1 million in H1 FY20, Turkey showed a significant improvement on the previous year’s very low level (CHF 24.5 million). This upswing was also associated with the innovations that Rieter presented at ITMA in Barcelona in June 2019.
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
Due to the exceptional market situation, machines & systems posted an order intake of CHF 129.2 million (CHF 196.2 million). The sales declined to CHF 119.9 million (CHF 220.8 million).
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
At components, order intake amounted to CHF 76.7 million (CHF 115.8 million). The sales fell to CHF 87.7 million (CHF 123.3 million).
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
After sales recorded an order intake of CHF 44.8 million (CHF 66.3 million). The sales declined to CHF 47.3 million (CHF 72.0 million).
Rieter, a supplier of systems for short-staple fibre spinning, reported 39 per cent sales decline to CHF 254.9 million (CHF: Swiss currency) during first half (H1) FY20 ended on June 30, 2020 compared to CHF 416.1 million in same period last year. The group posted 34 per cent decrease in order intake to CHF 250.7 million (H1 FY19: CHF 378.3 million).#
Rieter reported signs of a market recovery in June 2020. Group monitors capacity utilisation at more than 600 spinning mills around the world. At the beginning of April 2020, the proportion of producing spinning mills was around 40 per cent. By the end of June 2020, this proportion had improved to around 80 per cent.
Fibre2Fashion News Desk (JL)
20240830145952.gif)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
