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2016 sales drop 9% at spinning systems producer Rieter
15
Mar '17
In the full year of 2016, sales dropped 9 per cent year over year to CHF 945 million at Switzerland headquartered Rieter. However, order intake grew 13 per cent over 2015 to CHF 905.2 million in 2016. In the first half of 2016, orders were seen at a good level of CHF 510.7 million, which slowed significantly to CHF 394.5 million in the second half of 2016.

In the reporting period, the spinning systems manufacturer achieved an EBIT margin of 6.0 per cent which stood at CHF 56.5 million.

Net profit in 2016 at CHF 42.2 million was 4.5 per cent of sales, while free cash flow at CHF 42.7 million, was very much higher than net profit.

The equity ratio at 46.2 per cent as on December 31, 2016, was also much higher than 44.3 per cent than on December 31, 2015. (AR)

Fibre2Fashion News Desk – India


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