Brief: Rieter Holding Says Order Intake Down 17% At CHF 868.8 Mln

Rieter Holding AG

13/03/2019 05:39

March 13 (Reuters) - Rieter Holding AG  RIEN.S :
    * IN 2018, RIETER RECORDED AN ORDER INTAKE OF CHF 868.8 MILLION, DOWN 17% YOY
    * PROPOSED DIVIDEND OF CHF 5.00
    * FY SALES INCREASE BY 11% TO CHF 1 075 MILLION
    * FY NET PROFIT UP AT CHF 32.0 MILLION VERSUS CHF 13.3 MILLION YEAR AGO
    * SAYS WEAK MARKET ENVIRONMENT ALSO LED TO LOW DEMAND IN THE FIRST TWO MONTHS OF 2019
    * SEES SIGNIFICANT DECLINE IN SALES, EBIT AND NET PROFIT FOR BOTH FIRST HALF OF THE YEAR AND
WHOLE
2019
    * SAYS IS WORKING ON THE IMPLEMENTATION OF CAPACITY ADJUSTMENT AND COST REDUCTION MEASURES
    * SAYS MEASURES INCLUDE A REDUCTION OF THE GLOBAL WORKFORCE OF AROUND 5%

Source text - https://bit.ly/2F8XTWC
Further company coverage:  RIEN.S 

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