Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).
Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).#
Net profit for H1 FY21 was CHF 5.3 million (loss: CHF 54.4 million). EBITDA was CHF 27.1 million (loss: CHF 36.1 million).
Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).#
Sales of machines & systems segment for the six-month period increased 83 per cent to CHF 218.9 million (CHF 119.9 million), whereas components sales were up 28 per cent to CHF 112.4 million (CHF 87.7 million). After sales segment were up 46 per cent to CHF 69.2 million (CHF 47.3 million).
Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).#
“Spinning mills are working at good capacity levels with an increased demand for components as well as spare and wear parts, which is the reason for the positive development in the business groups after sales and components,” the company said in a press release.
Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).#
Rieter’s sales from Asian countries (excluding India and China) surged 57 per cent to CHF 137.0 million (CHF 87.4 million). While sales from China rose 85 per cent to CHF 68.5 million (CHF 37.0 million) due to spinning mills investing in the improvement of their competitiveness. The company also significantly recovered in India during H1 FY21 with sales escalating 188 per cent to CHF 51.0 million (CHF 17.7 million). Moreover, sales in Turkey improved 17 per cent to CHF 59.8 million (CHF 51.1 million) and North and South America sales grew 94 per cent to CHF 59.8 million (CHF 30.9 million).
Rieter, a Swiss supplier of systems for short-staple fibre spinning, has reported 289 per cent growth in order intake to CHF 975.3 million (Swiss currency) in first half (H1) of FY21 ended June 30, 2021, compared to CHF 250.3 million in the same period of previous fiscal. Sales for H1 FY21 jumped 57 per cent to CHF 400.5 million (H1 FY20: CHF 254.9 million).#
In its outlook, the company said that for FY21 it expects sales of above CHF 900 million.
Fibre2Fashion News Desk (JL)
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