Rieter : 56% sales increase in 2022

56% sales increase in 2022

(Source: Rieter)
(Source: Rieter)

Despite very challenging economic environment, Rieter succeeded in significantly increasing sales and expects a positive EBIT margin for the 2022 financial year. Annual sales at Rieter Holding AG, Winterthur/Switzerland, increased by 56% to CHF 1.51 billion in 2022 compared with the previous year. The development of the EBIT margin was strongly influenced by significant cost increases. An EBIT margin of around 2% (2021: 4.9%) is expected.
In addition to the geopolitical uncertainties, the 2022 financial year was characterized by 3 main challenges: Due to the rapid rise in inflation, the exceptionally high order backlog of around CHF 1.84 billion at the beginning of 2022 was processed at significantly higher costs. It was only possible to offset these higher costs in part by means of price increases and other remedial measures.
In order to safeguard deliveries, it was necessary to compensate for serious material bottlenecks, particularly in electronic components, which resulted in considerable additional development expenditure. In the 2nd half (H2) of 2022, particularly in the 4th quarter (Q4), the measures introduced to eliminate material bottlenecks had a positive impact.
Major expenses were also incurred in connection with the acquired businesses (Accotex, Temco and Winder).

Rieter had an order backlog of around CHF 1.54 billion at the end of 2022, which thus extends well into 2023 and 2024. In 2022, Rieter recorded order cancellations of less than 10% of the order backlog.

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