Home / Knowledge / News / Textiles / Rieter reports 7% rise in FY19 orders

Rieter reports 7% rise in FY19 orders

12
Mar '20
Pic: Rieter
Pic: Rieter
Rieter, a supplier of systems for short-staple fibre spinning, reported an order intake of CHF 926.1 million (CHF: Swiss currency) in FY19 ended on December 31, 2019 which was 7 per cent up compared to prior year (CHF 868.8 million). The growth is reportedly attributed to Q4, in which Rieter booked orders of CHF 401.6 million (Q4 FY18: CHF 119.0 million).
 
At the end of FY19, Rieter had an order backlog of about CHF 500 million (December 31, 2018: about CHF 325 million). Net profit rose to CHF 52.4 million (6.9 per cent of sales) in FY19 compared to CHF 32.0 million (3.0 per cent of sales) in FY18.
 
The company reported that FY19 was characterised by the trade conflict between the US and China, excess capacity in the spinning mills as well as political and economic uncertainties in regions of importance to Rieter. Against this background, sales in the Asian countries (without China, India and Turkey) amounted to CHF 293.5 million. 
 
In India, sales declined by 32 per cent to CHF 99.9 million. Rieter's sales in Turkey amounted to CHF 66.8 million. At CHF 136.7 million, sales in China were 8 per cent down on the previous year. In North and South America, sales declined 3 per cent to CHF 105.8 million. In the Europe region, sales fell by 13 per cent to CHF 41.2 million, while in the Africa region, Rieter recorded 55 per cent decline in sales to CHF 16.1 million.
 
In the business group Machines & Systems, sales of new machines were at a very low level in FY19, falling by 42 per cent to CHF 389.0 million (FY18: CHF 669.3 million). Components recorded 12 per cent drop in sales to CHF 230.2 million in FY19 compared to CHF 262.3 million in prior year. This is reportedly attributable to the reluctance to invest in the markets, which primarily affected the business activities of SSM and Suessen. With sales of CHF 140.8 million, After Sales recorded a slight decline of 2 per cent due to the lower volume in the machine business and the associated lower demand for installation services.
 
The company in its outlook stated that the effects of the Covid-19 virus, which cannot be definitively determined at the present time, will be relevant for the year as a whole. Company has taken the appropriate precautions to protect employees and to keep the promises made to customers wherever possible, as reported.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Holding cost will affect apparel manufacturers

That brands may eventually not scrap orders is not necessarily good...

Pic: reddees / Shutterstock.com

Apparel/Garments | On 7th Apr 2020

Commendable decision by international garment buyers

At a time when the world is passing through an unprecedented crisis...

Pic: Shutterstock

Apparel/Garments | On 7th Apr 2020

Over 40 apparel factories in Bangladesh resume production

More than 40 readymade garment (RMG) factories in Bangladesh's Savar, ...

Interviews View All

Akash Khetan, Narayan Tex Fab

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Priyanka, Studio Priyanka Rajiv

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Siddharth Biyani, Mangalam Industries Pvt Ltd

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

John Elmuccio,

John Elmuccio

Evolution St Louis is a company setting up a high-tech knitting facility...

Suresh P Bagrecha,

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Alexander Foll,

Alexander Foll

Germany-based H Stoll AG & Co KG manufactures flat knitting machines....

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search