Rieter Achieves Significant Increase in Order Intake in Financial Year 2024
Rieter, one of the world’s leading system suppliers for the production of short-staple yarns, has announced its 2024 financial year report. The company’s order intake for 2024 increased by 34% compared to the previous year, reaching CHF 725.5 million.
As expected, Rieter Group concluded the 2024 fiscal year with lower sales compared to the previous year. According to preliminary, unaudited figures, total sales amounted to CHF 859.1 million, which is around 39% down on the previous year (2023: CHF 1 418.6 million). For the full year 2024, Rieter expects an EBIT margin in the upper half of the guidance range of 2% to 4% communicated in October 2024 (2023: 7.2%).
34% Increase in Order Intake
At CHF 725.5 million, order intake was significantly higher than in the same period of the previous year (2023: CHF 541.8 million), representing an increase of 34%. This was the fourth consecutive quarter of year-on-year growth. As expected, the Rieter Group ended financial year 2024 with lower sales than in the previous year. Rieter thus succeeded in strengthening its competitive position in a challenging market environment. Compared with the previous year, there were signs of an initial market recovery.
Machinery and Systems Division Sales Decreased 56%
The Machines & Systems Division posted sales of CHF 424.9 million, a decrease of 56% compared with the previous year (2023: CHF 965.0 million). In the Components Division, sales declined to CHF 247.6 million, down 7% from the same period of the previous year (2023: CHF 266.2 million). The After Sales Division reported sales of CHF 186.6 million, comparable to the previous year (2023: CHF 187.4 million).
At the end of 2024, the company had an order backlog of about CHF 530 million (December 31, 2023: CHF 650 million).
‘Next Level’ Performance Programme Successfully Implemented
Rieter successfully implemented the measures of the “Next Level” performance program. Despite significantly lower sales, a solid EBIT margin is expected in the upper half of the 2% to 4% guidance range, as communicated in October 2024
Results to be Announced at Press Conference
Rieter will provide further details on the financial year on March 13, 2025. The Group will also publish its Annual Report 2024 and hold an annual results press conference.
