Rieter counting on market recovery

(CONNECT) According to preliminary unaudited figures, Rieter’s total sales amounted to 859.1 million Swiss francs for the 2024 financial year. In a year-on-year comparison, this corresponds to a decline of around 39 percent, as the supplier of systems for textile manufacturing from Winterthur revealed in a press release. Sales in the reporting year in all Rieter’s market regions were lower than in the previous year.

However, the company posted growth in its order intake. Globally, order intake in 2024 was 34 percent higher than in the previous year, at 725.5 million francs. According to the press release, “there were signs of an initial market recovery”. At the end of the financial year, the company had an order backlog of about 530 million francs.

Rieter will publish its Annual Report 2024 with all fully audited figures in mid-March. The company expects an operating margin (EBIT margin) in the upper half of the guidance range of 2 percent to 4 percent which was communicated in October 2024. In the previous year, Rieter achieved an EBIT margin of 7.2 percent. ce/hs