Rieter reports order intake of CHF 975.3 mn in H1 2021

Rieter posted an order intake of CHF 975.3 million, which corresponds to an increase of 289% compared to the previous year period (first half of 2020: CHF 250.7 million). The recovery is broadly supported globally and is based on a catch-up effect relating to the years 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.

On June 30, 2021, the company had an order backlog of about CHF 1 135 million (June 30, 2020: about CHF 490 million).

In the Business Group Machines & Systems, order intake amounted to CHF 714.8 million (first half of 2020: CHF 129.2 million). In the Business Group Components, order intake rose to CHF 154.9 million (first half of 2020: CHF 76.7 million), and in the Business Group After Sales it increased to CHF 105.6 million (first half of 2020: CHF 44.8 million).

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 commercialisation 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 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 due to spinning mills investing in the improvement of their competitiveness. 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.

Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels. For the full year, Rieter expects sales to be above CHF 900 million.