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Rieter posts higher profit margin in 2015
16
Mar '16
Courtesy: Rieter
Courtesy: Rieter
In 2015, Rieter recorded a higher profit margin at 4.8 per cent of sales as against 4.8 per cent in 2014, with net profit totaling CHF 49.8 million compared to CHF 52.9 million in the prior year.

During the reporting year, order intake amounted to CHF 801.6 million vis-à-vis CHF 1,146.1 million in the previous, but was 6 per cent higher in the second half of the year than in the first six months.

“In the year under review the trend in demand in the After Sales and Components businesses was positive, while the Machines & Systems business reflected a cyclical reluctance to invest,” Rieter noted.

“Following a low point in the third quarter, demand in the machinery business recovered toward the end of the year,” the Swiss spinning systems manufacturer stated in a press release.

At the end of 2015, Rieter's order backlog amounted to approximately CHF 470 million compared to CHF 730 million on December 31, 2014.

With overall sales of CHF 1,036.8 million as against CHF 1,153.4 million in the earlier year, EBITDA margin rose from 10.9 per cent to 11.2 per cent of sales.

In 2015, Rieter added that it again achieved the best sales results in Asian countries, not including China, India and Turkey with an increase of 19 per cent compared to the prior year.

According to Rieter, the market situation in China has eased slightly as a result of a government investment program being implemented in the province of Xinjiang.

Sales amounted to CHF 139.8 million, 20 per cent down on the prior year, while order intake was up on 2014 and above the level of sales.

The Indian market was stable in 2015 and Rieter's sales were 9 per cent and 13 per cent in local currency, higher at CHF 142.0 million, while order intake remained at the same level as in the prior year.

In Turkey, Rieter's sales for the reporting year amounted to CHF 143.7 million, while order intake was at a very low level, but the first signs of recovery were observed toward the end of the year.

Sales of CHF 200.6 million in North and South America in 2015 were at the same level as in the preceding year, but order intake was lower than in 2014 due to the more difficult economic situation.

Sales in Africa of CHF 26.7 million were below the previous year's level, while the reduced sales figure of CHF 60.2 million in Europe was mainly attributable to the sale of the Schaltag Group.

At 7.0 per cent of sales, the EBIT margin was only slightly lower than in the previous year with EBIT totaling to CHF 73.1 million versus CHF 84.6 million in 2014.

The Rieter board of directors proposed a dividend distribution of CHF 4.50 per share for the 2015 financial year, the same as for the prior year. (AR)

Fibre2Fashion News Desk – India

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