Switzerland-based spinning technologies manufacturer Rieter has unveiled that its order intake surged 13 per cent year-over-year to CHF 905.2 million in the fiscal 2016 compared to the order intake in 2015.
In the full year period, the company’s sales however dived 9 per cent to CHF 945 million as against CHF 1,036.8 million in the corresponding period of 2015. In the review period, Rieter generated EBIT of CHF 56.5 million from last year’s CHF 73.1 million, down by 23 per cent. Following the trend, the company also faced a downturn of 14 per cent in net profit to CHF 42.7 million compared to previous year’s CHF 49.8 million.
In addition, Rieter’s sales increased by 33 per cent and 28 per cent to CHF 186.5 million and CHF 182.1 million in China and India, respectively. Whereas, in North and South America, following the completion of deliveries of large orders in the previous year, sales declined to CHF 86.6 million. Furthermore, in Europe, sales decreased to CHF 40.9 million, which was CHF 60.2 million in 2015.
Also Read – Rieter reports surge in order intake
In the above-mentioned period, Rieter presented an important innovation with the new single-head drawframe generation RSB-D 50 which offers unprecedented productivity with the highest quality. Also, Rieter’s UPtime Maintenance Solution, an online expert training system for monitoring and optimizing maintenance in the spinning mill, represents a further step towards the digitalization of the spinning industry.
It may be mentioned here that the company plans to relocate production from the Ingolstadt site in Germany to the Usti site in the Czech Republic.
