Brief: Rieter Holding FY Sales Down 29% To CHF 760 Million

Rieter Holding AG

29/01/2020 06:07

Jan 29 (Reuters) - Rieter Holding AG  RIEN.S :
    * FY SALES WERE SIGNIFICANTLY DOWN ON THE PREVIOUS YEAR,
FALLING
BY 29% TO CHF 760 MILLION
    * FIRST HALF OF 2020 EXPECTED TO BE SIGNIFICANTLY LOWER THAN
PREVIOUS YEAR IN TERMS OF SALES AND EARNINGS
    * FY ORDER INTAKE UP 7% ON PREVIOUS YEAR; ORDER INTAKE
AMOUNTING
TO CHF 401.6 MILLION BOOKED IN FOURTH QUARTER 2019 (4TH QUARTER
2018: CHF 119.0 MILLION)
    * FY EBIT MARGIN OF AROUND 11% AND NET PROFIT OF AROUND 7%
OF
SALES ANTICIPATED, NON-RECURRING PROFIT CONTRIBUTION FROM SALE
OF REAL ESTATE IN INGOLSTADT (GERMANY)
    * PLANNING FURTHER MEASURES TO ADJUST CAPACITIES DUE TO
STRUCTURAL
CHANGES IN THE MARKET SITUATION
    * IN  BUSINESS GROUP MACHINES & SYSTEMS, ASSEMBLY OF
MACHINES TO
BE DISCONTINUED AT THE WINTERTHUR LOCATION
    * THIS IS EXPECTED TO AFFECT 87 JOBS OUT OF A TOTAL OF 980
JOBS IN
SWITZERLAND
    * FOR IMPLEMENTATION OF THE ADJUSTMENT MEASURES, SEES
NON-RECURRING EXPENSES OF APPROXIMATELY THE SAME AMOUNT IN 2020
    * IN BUSINESS GROUP COMPONENTS, TOTAL OF 90 JOBS LIKELY TO
BE LOST
AT THE LOCATIONS SUESSEN, GERSTHOFEN, BOSKOVICE AND ENSCHEDE
    * AIMS TO CUT RUNNING COSTS BY AROUND CHF 15 MILLION FROM
2021

Source text for Eikon:  ID: 
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