Rieter Holding AG
SIX:RIEN
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Rieter Holding AG
Rieter Holding AG engages in the supply of systems for short-staple fiber spinning. The company is headquartered in Winterthur, Zuerich and currently employs 4,907 full-time employees. The firm comprises two business segments: Spun Yarn Systems and Premium Textile Components. The Spun Yarn Systems business segment develops and manufactures machinery and systems for processing natural and man-made fibers and their blends into yarns. The Premium Textile Components business segment supplies technology components and service offerings to spinning mills and also to machinery manufacture. The firm provides spinning preparation processes and also all four final spinning processes that are established on the market. The company operates through its subsidiaries, as well as affiliated companies in a number of countries. Since May 13, 2011, the former Rieter Automotive Systems Division has been listed separately as Autoneum on the SIX Swiss Exchange.
Rieter Holding AG engages in the supply of systems for short-staple fiber spinning. The company is headquartered in Winterthur, Zuerich and currently employs 4,907 full-time employees. The firm comprises two business segments: Spun Yarn Systems and Premium Textile Components. The Spun Yarn Systems business segment develops and manufactures machinery and systems for processing natural and man-made fibers and their blends into yarns. The Premium Textile Components business segment supplies technology components and service offerings to spinning mills and also to machinery manufacture. The firm provides spinning preparation processes and also all four final spinning processes that are established on the market. The company operates through its subsidiaries, as well as affiliated companies in a number of countries. Since May 13, 2011, the former Rieter Automotive Systems Division has been listed separately as Autoneum on the SIX Swiss Exchange.
Order Intake: Rieter's order intake for the first nine months was CHF 525 million, with a particularly low Q3 at CHF 146 million. The largest-ever single order from Egypt (CHF 165 million) was booked in October, positively impacting Q4.
Market Conditions: Demand for new machines remains low due to overcapacity in spinning, the US-China trade war, and ongoing political and economic uncertainty.
Cost Cutting: Significant cost-cutting measures were implemented, including a reduction of workforce from 5,745 to 4,620 by end of September.
Profit Boost: Sale of real estate in Ingolstadt completed, providing a nonrecurring profit contribution of about EUR 60 million and improving net liquidity.
Outlook: Sales for 2019 expected to be significantly lower than last year, with ongoing business results also down. However, EBIT and net profit will be well above previous year due to the real estate gain.
Innovation: Customer interest in new products shown at ITMA remains high; management expects order intake from ITMA innovations to begin in Q4 and ramp up in 2021.
