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Sales drop 13.4% at Oerlikon Group in Q3
03
Nov '16
In the third quarter ended September 30, 2016, sales dropped 13.4 per cent to CHF 549 million as against CHF 634 million in the same quarter of 2015 at Switzerland based Oerlikon Group. At constant exchange rates, sales stood at CHF 544 million in the reporting quarter, while orders in the quarter dipped 6.1 per cent year on year to CHF 572 million.

EBITDA also fell lower at CHF 81 million, or 14.7 per cent of sales in the three months to September 30, 2016 compared to CHF 111 million and 17.5 per cent of sales in the prior year's third quarter.

In the quarter under review, EBIT stood at CHF 37 million, correlating to a margin of 6.8 per cent vis-à-vis CHF 70 million and a margin of 11.1 per cent in the third quarter of last year.

According to the group, a positive trend was noted in the staple fibres, carpet yarns and plastic processing markets, which contributed to the textile machinery segment's improved order intake. (AR)

Fibre2Fashion News Desk – India


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