Rieter has implemented comprehensive crisis management. Priorities are being given to protecting employees, fulfilling customer commitments and ensuring liquidity.
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At present, it is not possible to predict how the global Covid-19 pandemic will affect Rieter’s sales and earnings in the first and second half of 2020, and thus also for 2020 as a whole.
Net profit rose to CHF 52.4 million (6.9 per cent of sales) and thus was significantly higher than in the previous year (2018: CHF 32.0 million or 3.0 per cent of sales).
According to the first, unaudited figures, total sales of CHF 760 million were achieved, which is 29 per cent down on the previous year (2018: CHF 1 075.2 million).
The total volume of the contracts sums up to around 210 million Swiss Francs, including the contracts which had been signed at ITMA 2019 in Barcelona and which represent a volume of around 180 million Swiss Francs.
At the Swiss-Egyptian Investment Forum which took place in Cairo (Egypt), the Cotton & Textiles Holding Company and Rieter signed additional contracts related to the modernisation programme for the Egyptian textile industry.
The cumulative order intake recorded by Rieter Group in the first nine months of 2019 of CHF 524.5 million (2018: CHF 749.8 million) was down by 30 per cent compared to the prior-year period. In the third quarter of 2019, order intake was CHF 146.2 million (Q3 2018: CHF 238 million).