Rieter reports FY20 sales of CHF 573 mn

Rieter, a supplier of systems for short-staple fibre spinning, reported 31 per cent fall in its order intake to CHF 640.2 million (Swiss currency) during the full fiscal 2020 ended December 31, 2020 compared to CHF 926.1 million in the same period prior fiscal. Sales for the year decreased 25 per cent to CHF 573.0 million (FY19: CHF 760.0 million).

 

Rieter, a supplier of systems for short-staple fibre spinning, reported 31 per cent fall in its order intake to CHF 640.2 million (Swiss currency) during the full fiscal 2020 ended December 31, 2020 compared to CHF 926.1 million in the same period prior fiscal. Sales for the year decreased 25 per cent to CHF 573.0 million (FY19: CHF 760.0 million).#

The business group machines & systems were particularly hard hit by the effects of the pandemic, with 35 per cent decrease to CHF 363.9 million (CHF 562.8 million). While components sales slipped 24 per cent to CHF 169.1 million (CHF 222.0 million). After sales dropped 24 per cent to CHF 107.2 million (CHF 141.3 million).

 

Rieter, a supplier of systems for short-staple fibre spinning, reported 31 per cent fall in its order intake to CHF 640.2 million (Swiss currency) during the full fiscal 2020 ended December 31, 2020 compared to CHF 926.1 million in the same period prior fiscal. Sales for the year decreased 25 per cent to CHF 573.0 million (FY19: CHF 760.0 million).#

With the exception of Turkey, all regions were affected by the low demand as a consequence of the Covid-19 pandemic. Asian countries sales were down 37 per cent to CHF 184.8 million (CHF 293.5 million). China sales decreased 32 per cent to CHF 92.8 million (CHF 136.7 million) and India sales fell 49 per cent to CHF 50.8 million (CHF 99.9 million). Sales in Turkey jumped 83 per cent to CHF 122.0 million (CHF 66.8 million).

 

Rieter, a supplier of systems for short-staple fibre spinning, reported 31 per cent fall in its order intake to CHF 640.2 million (Swiss currency) during the full fiscal 2020 ended December 31, 2020 compared to CHF 926.1 million in the same period prior fiscal. Sales for the year decreased 25 per cent to CHF 573.0 million (FY19: CHF 760.0 million).#

With improved capacity utilisation, Rieter in its press release stated that it is planning short-time working in only a few areas in the first half of 2021. Rieter expects sales in the first half of 2021 to be below the break-even point.