Rieter
(Source: Rieter)
Due to the continuing high demand for new systems, components and services, Rieter booked more than 3 times as many orders in the 2021 financial year as in the previous year. The company achieved a total order intake of CHF 2.23 billion (2020: CHF 640.2 million). Despite bottlenecks in material supplies and freight capacities, sales in 2021 developed better than expected and increased by 69% to CHF 969.2 million. An EBIT margin of 4.5% to 5% of sales (2020: -14.7%) is anticipated. The full annual financial statements and annual report 2021 will be published on March 9, 2022.
The exceptionally high order intake is broadly supported at the global level. As reported previously, this is based on a catch-up effect from the 2 prior years and a regional shift in demand. The company believes that a major reason for this shift in demand is the development of costs in China. The orders came primarily from Turkey, India, Latin America, Uzbekistan, China and Pakistan.
Thanks to the company’s product portfolio and global positioning, all 3 Business Groups (BGs) of the Rieter Holding Ltd., Winterthur/Switzerland, benefited from the high level of demand. BG Machines & Systems posted an order intake of CHF 1.71 billion (2020: CHF 363.9 million). The main focus of demand was on ring and compact-spinning systems.
The order intake of BG Components was CHF 296 million, an increase of 75% compared to the previous year (2020: CHF 169 million). BG After Sales recorded an order intake of CHF 221.1 million, 106% higher than the previous year (2020: CHF 107.2 million). The main reason for the positive order intake in both Business Groups is the continuing increased demand for spare and wear parts in spinning mills, which are operating at high capacity.
Effective from December 1, 2021, Rieter is consolidating the components businesses Accotex and Temco acquired from Saurer Netherlands Machinery Company BV, Amsterdam/Netherlands. With the acquisition of Accotex (elastomer components for spinning machines) and Temco (bearing solutions for filament machines), Rieter is strengthening the market position in the components business. The figures from the 2 businesses have been incorporated into the results for the 2021 financial year as follows: the 2021 order intake includes CHF 2.1 million and the 2021 sales includes CHF 3.3 million.
The acquisition of Saurer’s third business (automatic winder) leads to a significant increase in the attractiveness of Rieter’s ring and compact-spinning systems and is expected to be completed in the first half of 2022.
The exceptionally high order intake is broadly supported at the global level. As reported previously, this is based on a catch-up effect from the 2 prior years and a regional shift in demand. The company believes that a major reason for this shift in demand is the development of costs in China. The orders came primarily from Turkey, India, Latin America, Uzbekistan, China and Pakistan.
Thanks to the company’s product portfolio and global positioning, all 3 Business Groups (BGs) of the Rieter Holding Ltd., Winterthur/Switzerland, benefited from the high level of demand. BG Machines & Systems posted an order intake of CHF 1.71 billion (2020: CHF 363.9 million). The main focus of demand was on ring and compact-spinning systems.
The order intake of BG Components was CHF 296 million, an increase of 75% compared to the previous year (2020: CHF 169 million). BG After Sales recorded an order intake of CHF 221.1 million, 106% higher than the previous year (2020: CHF 107.2 million). The main reason for the positive order intake in both Business Groups is the continuing increased demand for spare and wear parts in spinning mills, which are operating at high capacity.
Effective from December 1, 2021, Rieter is consolidating the components businesses Accotex and Temco acquired from Saurer Netherlands Machinery Company BV, Amsterdam/Netherlands. With the acquisition of Accotex (elastomer components for spinning machines) and Temco (bearing solutions for filament machines), Rieter is strengthening the market position in the components business. The figures from the 2 businesses have been incorporated into the results for the 2021 financial year as follows: the 2021 order intake includes CHF 2.1 million and the 2021 sales includes CHF 3.3 million.
The acquisition of Saurer’s third business (automatic winder) leads to a significant increase in the attractiveness of Rieter’s ring and compact-spinning systems and is expected to be completed in the first half of 2022.
