Rieter reports surge in order intake

Switzerland-based spinning technologies manufacturer Rieter has reported that its order intake surged 32 per cent year-over-year to CHF 510.7 million in the first half of the current year as against CHF 388.3 million in the first half of 2015. The company said that it was able to acquire large orders for spinning systems since the end of 2015, and accordingly orders received by the Machines & Systems Business Group increased significantly by 52 per cent compared to the prior year.

Also Read – Rieter releases its sales report

Sales in the first half of the year stood at CHF 436.9 million as against CHF 553.9 million in the first half of 2015, down (-) 21 per cent. Besides, the company reported EBITDA of CHF 34.4 million or 7.9 per cent of sales in the period under review compared to CHF 66.0 million or 11.9 per cent of sales in the corresponding period of the previous year. Its EBIT totalled CHF 15.7 million while EBIT margin stood at 3.6 per cent in the reporting period, down from CHF 46.1 million and 8.3 per cent, respectively.

In the first half of 2016, the machinery manufacturer posted a net profit of CHF 11.0 million or 2.5 per cent of sales, a steep slide from CHF 29.1 million or 5.3 per cent in the first half of 2015, the company release mentions.