Rieter sees significant sales in Asia for 2017 first half

20 Jul '17

2 min read

Textile machinery manufacturer Rieter has witnessed the most significant sales in Asian countries (excluding China, India and Turkey) with a total of CHF 111.2 million for 2017 first half. However, the company's sales was recorded at CHF 415.2 million for the reported period, 5 per cent down as compared to CHF 436.9 million for the same period in 2016.

The decline in sales compared to the previous year was mainly due to reduction in shipments to Bangladesh and Vietnam. The order intake recorded in the period showed a positive development. It was significantly above the accomplished sales and benefited from the dynamism of the Central Asian countries.

In terms of sales and order intake, the North and South America and Africa regions were characterised by large individual orders in the machinery business. Due to increasing demand since March 2017, Rieter posted order intake of CHF 495.2 million in the first half of 2017. This was 3 per cent below the previous year’s level (first half year 2016: CHF 510.7 million) and with an increase of 26 per cent, well above the second half of 2016 (CHF 394.5 million).

Rieter generated an EBITDA of CHF 34.8 million as compared to CHF 34.4 million for the first six months of 2016. For the reported period, EBITDA margin was 8.4 per cent against 7.9 per cent for the first half year 2016.

In the first six months of 2017, Rieter achieved a net profit of CHF 10.9 million, thereby reaching the previous year’s level (first half year 2016: CHF 11.0 million). (RR)

Fibre2Fashion News Desk – India

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