Rieter’s Order Intake Down 2% for First Nine Month of 2018

The Rieter Group reported that their order intake during the first nine months of 2018 decreased by 2.0% compared to the year before to CHF 749.8 million. The third-quarter order intake fell 11.8% year-on-year to CHF 238.0 million.

In the Business Group Machines & Systems, the order intake fell 11.6% to CHF 433.4 million. In the third quarter of 2018, Machines & Systems received orders worth CHF 135.7 million, down 17.7%. In the Asian market (excluding China, India and Turkey), especially in Vietnam, order intake increased compared to the third quarter of 2017. In China, development was stable. For Indian customers, increasing challenges in the financing of orders led to a weakening of demand in the third quarter. In Turkey, demand was extremely low.

The Business Group After Sales recorded a 3.9% decline in order intake compared to the first nine months of the previous year to CHF 111.3 million. Order volumes in the third quarter of 2018 decreased to CHF 36.3 million from CHF 38.0 million in the year before. The spare parts business developed positively, but the lower volume in the machinery business led to a decline in installation services. In the third quarter of 2018, After Sales also recorded a significant decline in order intake from Turkey compared to the previous year.

The Business Group Components, including the acquisition of SSM Textile Machinery, increased the order intake by 28.9% to CHF 205.1 million. The third-quarter order intake was CHF 66.0 million, or about the same as the CHF 66.8 million in the year before. The order intake in the key markets of China, India and the Asian countries (excluding China, India and Turkey) was generally stable in the third quarter.