Rieter registers decline in profits

(CONNECT) Rieter, a globally active textile machine manufacturer based in Winterthur in the Swiss canton of Zurich, has announced that its sales have fallen by 39 percent year on year in 2024, amounting to 859.1 million Swiss francs. The operating income at the EBIT level was 73 percent lower than the previous year, at 28.0 million Swiss francs. The corresponding margin sank from 7.4 to 3.3 percent. The net profit of 10.4 million Swiss francs was 86 percent below the previous year’s value.

Rieter explains in the announcement: “Despite significantly lower sales, a solid EBIT margin was achieved.” The company attributes this to the consistent implementation of the measures set out in the “Next Level” performance program. Rieter is aiming for an EBIT margin between 0 und 4 percent for the ongoing financial year.

The order intake for 2024 was 34 percent higher than 2023, with 725.5 million Swiss francs. Rieter writes: “An initial market recovery was visible compared with the previous year.” The textile machine manufacturer anticipates a challenging first half and a stronger second half for the ongoing year. ce/hs