The positive market dynamics continued for Rieter in the 3rd quarter (Q3) of the current year 2021. Rieter recorded an order intake of CHF 698.6 million in Q3/2021 (2020: CHF 174.4 million). The order intake of CHF 1.67 billion after 9 months corresponds to an increase of 294% compared to the prior year period (2020: CHF 425.1 million). The orders came primarily from Turkey, Latin America, India, Pakistan and China.
The market development is based on a catch-up effect from 2019 and 2020 in combination with a regional shift in demand. Rieter AG, Winterthur/Switzerland, believes that a major reason for this regional shift in demand is the development of costs in China. This is leading to increased investments outside the Chinese market.
The Business Group Machines & Systems achieved an order intake totaling CHF 1.28 billion in the first 9 months of 2021 (+447%). This is where the catch-up effect and the regional shift in demand are particularly evident.
In Q1-Q3/2021, the Business Group Components recorded an increase of 95% to CHF 227.0 million, while the Business Group After Sales posted an order intake of CHF 165.3 million, an increase of 123% compared to the prior year period. The continued increased demand for spare and wear parts at the well utilized spinning mills is the main reason for the positive order intake in both Business Groups.
The acquisition of the 3 businesses from Saurer Netherlands Machinery Company BV, Amsterdam/Netherlands, is proceeding according to plan. The incoming orders for these businesses are not taken into account in this trading update.