Rieter reports 7% rise in FY19 orders

Davida Erdahl

Rieter, a supplier of units for small-staple fibre spinning, described an buy intake of CHF 926.1 million (CHF: Swiss currency) in FY19 finished on December 31, 2019 which was seven for each cent up compared to prior yr (CHF 868.eight million). The advancement is reportedly attributed to Q4, in which Rieter booked orders of CHF 401.6 million (Q4 FY18: CHF 119. million).

 

At the close of FY19, Rieter experienced an buy backlog of about CHF five hundred million (December 31, 2018: about CHF 325 million). Web profit rose to CHF 52.4 million (6.nine for each cent of revenue) in FY19 compared to CHF 32. million (3. for each cent of revenue) in FY18.

 

The enterprise described that FY19 was characterised by the trade conflict in between the US and China, extra capacity in the spinning mills as very well as political and financial uncertainties in locations of significance to Rieter.

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