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Order intake at Rieter grows 16% in 2017
01
Feb '18
Courtesy: Rieter
Courtesy: Rieter
The order intake at the Rieter Group for the financial year 2017 was recorded at CHF 1,051.5 million, up 16 per cent. The company's sales were recorded at CHF 965.6 million, up 2 per cent than the previous year sales at CHF 945.0 million. The business group's after sales posted positive growth, increasing sales by 3 per cent compared to 2016.

Rieter posted strong growth in the second half of 2017 with CHF 550.4 million compared with CHF 415.2 million in the first half of 2017. The acquisition of SSM in the business group components and a strong increase in deliveries in the business group machines and systems led to this growth in sales. In the business group components, sales (without acquisition) were down 11 per cent than the previous year, mainly due to lower sales of technology components in India. 

In the business group machines & systems, order intake rose by 13 per cent to CHF 668.2 million (2016: CHF 591.6 million). The growth in order intake in the Asian countries (excluding China, India and Turkey) was pleasing. Uzbekistan, Bangladesh and Indonesia in particular contributed to this growth.

"Order intake in China was up on the previous year, thanks also to initial orders for the J 26 air-jet spinning machine. In India, investment restraint due to the introduction of a harmonised sales tax (GST) led to a decline in order intake compared to the previous year, even though demand picked up again slightly towards the end of the year. After a hesitant first half of the year, demand from the key market Turkey gained increasingly in momentum in the second half of the year. The business group realised some major projects in the US and in Brazil, resulting in a higher order volume in the North and South America region compared to the previous year," Rieter said in a press release.

Order intake in the business group after sales in the year under review improved by 14 per cent to CHF 154.8 million (2016: CHF 135.2 million). Both the spare parts and after sales services businesses contributed to this growth. The increased order volume in the new machines business resulted in higher demand for installation services in the business group after sales.

At the end of 2017, Rieter’s order backlog of around CHF 540 million was CHF 100 million higher than at the end of the previous year (December 31, 2016: around CHF 440 million). (RR)

Fibre2Fashion News Desk – India


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