Nearly 85 top executives of leading spinning mills of India followed the Nitin Spinners Ltd and Rieter invitation to have a close impression of complete system installation of Rieter compact spinning machine. This two-day event the participants had the opportunity to have deep interactions on advantages of Rieter Systems.
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Rieter posted an order intake of CHF 1,051.5 million in FY2017. This represents an increase of 16% compared to the previous year (increase of CHF 146.3 million).
A significant increase in order intake and order backlog at the end of the year marked the 2017 financial year. In terms of sales, Rieter posted a slight increase. The EBIT margin before restructuring charges was 5.4 per cent. Despite special effects, the company’s dividend policy and solid financial position allow the payment of an attractive dividend. Therefore, the Board of Directors proposes to the shareholders to leave the dividend unchanged at CHF 5.00.
Rieter’s growth in order intake in the Asian countries (excluding China, India and Turkey) was pleasing.
The Rieter Group achieved an order intake of CHF 1 051.5 million in the 2017 financial year. This represents an increase of 16 per cent compared to the previous year (+ CHF 146.3 million). Thus, the upturn seen in the first half of 2017 continued. Sales totaled CHF 965.6 million, up 2 per cent on the previous year (2016: CHF 945.0 million). The full annual financial statements and the 2017 Annual Report will be published by Rieter on March 13, 2018.
For the whole of 2017, Rieter anticipates sales in the region of CHF 980 million and a net profit of around 1 per cent to 2 per cent of sales.
Rieter has taken the first steps in the Internet of Things (IoT) with two SPIDERweb modules, the Alert and Cockpit modules as well as the client module.
Rieter Award Week 2017 was held recently at the Rieter Headquarters in Winterthur (Switzerland). For around three decades, the Rieter Award has been a firm component of the company’s programme to encourage its trainees – and is an institution in the textile industry.
Rieter intends to create a modern location in Winterthur, concentrating the customer center, product and technology development, assembly and administration on an area of approximately 30 000 square meters.