Reflecting challenging market developments, in Q3/2019 the sales of the technology group Oerlikon Management AG, Pfäffikon/Switzerland, decreased by 7.9 % year-over-year to CHF 633 million, driven primarily by lower sales in the Manmade Fibers Segment.
The Manmade Fibers Segment increased order intake by 6.2% year-over-year, driven by higher demand in filament equipment and systems, particularly in China, compensating for the decline in carpet yarn and staple fibers equipment. A high level of order intake (> CHF 200 million) has been sustained for the 8. consecutive quarter. Segment sales were 15.6 % lower year-over-year, driven by declines in all regions except Europe, but are to be relativized due to the record sales in Q3/2018. EBIT for Q3/2019 was CHF 22 million (Q3/2018: CHF 30 million), or 8.4% of sales (Q3/2018: 9.5%).
Supported by a healthy order pipeline, the Group's guidance for 2019 remains unchanged.