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Rieter's reports Q3 FY20 order intakes of CHF 174 mn

Oct '20
Pic: Rieter
Pic: Rieter
Rieter, a supplier of systems for short-staple fibre spinning, reported rise in its order intake to CHF 174.4 million (CHF: Swiss currency) during the third quarter (Q3) FY20 ended on September 30, compared to CHF 45.7 million in the previous quarter. However, for the nine months period, order intake fell 19 per cent to CHF 425.1 million (CHF 524.5 million).
Due to the positive development in Q3 FY20, order intake at the business group machines & systems fell 8 per cent to CHF 234.5 million (CHF 255.8 million) in the first nine months. While the business group components recorded a reduction of 33 per cent to CHF 116.6 million (CHF172.9 million) and after sales posted an order intake of CHF 74.0 million (CHF 95.8 million), a decrease of 23 per cent.
The order backlog as of September 30, were around CHF 515 million (CHF 285 million). 
In recent years, Rieter has consistently implemented the strategy with the focus on innovation leadership, strengthening the business on the installed base and optimisation of the costs. The company intends to forge ahead with the strategy in the coming months in order to strengthen the market position for the time after the Covid-19 pandemic.

Fibre2Fashion News Desk (JL)

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