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Rieter reports 6% higher order intake in H2'15
01
Feb '16
Order intake at spinning technologies producer Rieter was 6 per cent higher year over year in the second half of 2015 than in the first six months, owing to more positive momentum in the second half.

In a press release and while declaring interim results, Rieter said its order intake for full 2015 were however down to CHF 801.6 million as against CHF 1,146.1 million in 2014.

According to Rieter, the overall trend in demand in 2015 was characterised by positive developments in the After Sales and Components business groups and a cyclical reluctance to invest in the Machines & Systems business.

“Following a low point in the third quarter, demand in the machinery business recovered toward the end of the year,” the company observed.

Order intake at the Components business group increased to CHF 217.7 million, 26 per cent higher than in the previous year, thanks to strong demand in the second half of 2015 in particular.

The After Sales business group posted order intake of CHF 126.3 million, down CHF 14.2 million or 10 per cent compared to the prior year.

Order intake at the Machines & Systems business group for 2015 as a whole amounted to CHF 457.6 million, 45 per cent lower than in the previous year.

Rieter reported a significant increase in sales at the Components and After Sales business groups and sales were down at the Machines & Systems business group, despite which overall sales declined.

In 2015, Rieter's sales amounted to CHF 1,036.8 million, also down from CHF 1,153.4 million in 2014.

In comparison to 2014, sales increased by CHF 22.3 million or 13 per cent and CHF 12.3 million or 10 per cent at the Components and After Sales business groups, respectively.

While a decline of CHF 151.2 million or 18 per cent year on year was recorded at the Machines & Systems business group.

Adjusted for currency effects and the sale of the Schaltag Group, Rieter's sales and order intake figures were 8 per cent and 28 per cent were respectively lower than for the prior year.

At the end of 2015, Rieter's order backlog amounted to approximately CHF 470 million, while it is expecting EBIT of 7.0 per cent and a net profit of 4.8 per cent of sales for the year as a whole.

The company added that since January 2015, with its business groups; Machines & Systems, After Sales and Components, it has intensified its focus on differing needs of customers throughout the lifecycle of the machines.

“This generates greater customer satisfaction and stronger customer loyalty and in this way, Rieter extends its business with lower exposure to the cycle,” it informed.

“This new approach met with a very positive response from customers at the four-yearly ITMA global textile machinery trade show in Milan,” the Swiss company stated. (AR)

Fibre2Fashion News Desk – India

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