Brief: Rieter Reports Sales Of CHF 334.7 Mln In The Third Quarter, CHF 1092.9 Mln After Nine Months

Rieter Holding AG

20/10/2023 05:40

Oct 20 (Reuters) - Rieter Holding AG  RIEN.S :
    * SALES OF CHF 334.7 MILLION IN THE THIRD QUARTER, CHF 1
092.9
MILLION AFTER NINE MONTHS
    * ORDER INTAKE OF CHF 127.2 MILLION IN Q3, CHF 452.2 MILLION
AFTER
NINE MONTHS
    * OUTLOOK FOR THE FULL YEAR 2023 CONFIRMED
    * FOR FULL YEAR 2023, RIETER EXPECTS AN EBIT MARGIN OF
AROUND 5 TO
7% (INCLUDING POSITIVE SPECIAL EFFECTS OF LESS THAN 2%)
    * ORDER BACKLOG OF AROUND CHF 900 MILLION AS OF SEPTEMBER
30, 2023
    * SESS FY 2023 SALES AT PREVIOUS YEAR'S LEVEL OF AROUND CHF
1.5
BILLION.
    * FURTHER MARKET- AND VOLUME-RELATED ADJUSTMENTS IN THE
RANGE OF
400 TO 600 POSITIONS WILL BE NECESSARY, MAINLY IN PRODUCTION
    * EXPECTS MARKET TO HAVE BOTTOMED OUT IN YEAR 2023 AND
ANTICIPATES
A GRADUAL MARKET RECOVERY IN COURSE OF 2024
    * ACTUAL NUMBER OF POSITIONS TO BE REDUCED DEPENDS ON THE
ORDER
INTAKE IN THE COMING MONTHS
    * ONE-OFF RESTRUCTURING COSTS OF AROUND CHF 45 TO 50
MILLION,
WHICH WILL IMPACT EARNINGS IN 2023 FINANCIAL YEAR

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