Rieter reports 289% increase in order intake in H1 2021

Rieter reports 289% increase in order intake in H1 2021

Rieter posted an order intake of CHF 975.3 million in the first half of 2021, an increase of 289% compared to the previous year period. The global recovery is based on a catch-up effect relating to 2019 and 2020 and a regional shift in demand.

Rieter posted an
order intake of CHF 975.3 million in Jan-June 2021, an increase of 289%
compared to the same period of previous year. The global recovery is based on a
catch-up effect relating to 2019 and 2020 and a regional shift in demand.

Rieter is
benefitting from its innovative product portfolio and the company’s global
positioning. The highest order intake was recorded in Turkey. A key driver of
growth in the machinery business has been the demand for innovative complete
systems in the areas of ring and compact spinning. The successful
commercialization of the compacting devices and the piecing robot ROBOspin,
launched in 2019, contributed to the increase in the Business Groups Components
and After Sales.

In the first
half of 2021, the Business Group Machines and Systems realized sales in the
amount of CHF 218.9 million, which corresponds to an increase of about 83%
compared to the previous year period. Spinning mills are working at good
capacity levels with an increased demand for components as well as spare and
wear parts, which is the reason for the positive development in the Business
Groups After Sales and Components.

In the Asian
countries, Rieter recorded sales of CHF 137.0 million (+57%) for the first half
of the financial year 2021. In China, sales rose by 85% to CHF 68.5 million.
The recovery of the market in India resulted in a significant increase of 188%
to CHF 51.0 million. In Turkey, sales improved slightly to CHF 59.8 million
(+17%). Sales increased by 94% to CHF 59.8 million in the region North and South
America, driven by a considerable increase in demand in Latin America.

In terms of
EBIT, Rieter posted a profit of CHF 9.0 million for the first half of 2021 and
a net profit of CHF 5.3 million. A one-off effect associated with the reversal
of allowances for machinery that was delivered in the first half of 2021
contributed to this development.

In recent years,
Rieter has consistently implemented its strategy based on the cornerstones of
innovation leadership, strengthening the components, spare parts and services
businesses, and adjusting cost structures. The focus for 2021 remains on the
implementation of crisis management in countries that continue to be affected
by the pandemic.

The Rieter Board
of Directors has approved the implementation of the CAMPUS project which
comprises a customer and technology centre as well as an administration
building at the Winterthur location.

The first half
of 2021 has been characterized by a strong market recovery in combination with
a regional shift in demand for new machinery and systems. Rieter anticipates
that spinning mills will continue to work at high-capacity levels and for the
full year, sales to be above CHF 900 million.

Rieter is
the world’s leading supplier of systems for short-staple fibre spinning. Based
in Winterthur (Switzerland), the company is the only supplier worldwide to
cover both spinning preparation processes and all four end spinning processes
currently established on the market. Furthermore, Rieter is a leader in the
field of precision winding machines.

Source:
Rieter Press Release

Image Source: Rieter Press Releasec

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