01.29.20
The Rieter Group closed the 2019 financial year, as expected, with considerably lower sales than in the previous year. According to the first, unaudited figures, total sales of CHF 760 million ($782 million) were achieved, which is 29% down on the previous year. At CHF 926.1 million ($953 million), order intake was 7% higher than in the prior year period. Rieter will publish the full annual financial statements and the 2019 Annual Report on March 10, 2020.
As already reported, 2019 as a whole was characterized by the trade conflict between the U.S. and China, excess capacity in the spinning mills as well as political and economic uncertainties in regions of importance to Rieter.
Thus, in the Business Group Machines & Systems, with a decline of 42% in the 2019 reporting year, sales of new machines were at a very low level.
In the Business Group Components, the 12%% decline in sales compared to the same period in the previous year is also due to the lower order intake as a consequence of reluctance to invest. Above all, this affected the business activities of SSM and Suessen. The wear and tear parts business continued at a normal level.
The 2% year-on-year decline in sales in the Business Group After Sales is mainly attributable to the lower volume in the machinery business (low demand for installation services).
As already reported, 2019 as a whole was characterized by the trade conflict between the U.S. and China, excess capacity in the spinning mills as well as political and economic uncertainties in regions of importance to Rieter.
Thus, in the Business Group Machines & Systems, with a decline of 42% in the 2019 reporting year, sales of new machines were at a very low level.
In the Business Group Components, the 12%% decline in sales compared to the same period in the previous year is also due to the lower order intake as a consequence of reluctance to invest. Above all, this affected the business activities of SSM and Suessen. The wear and tear parts business continued at a normal level.
The 2% year-on-year decline in sales in the Business Group After Sales is mainly attributable to the lower volume in the machinery business (low demand for installation services).