Sulzer rises after a strong start to the year in Q1
17/04/2023 07:39
** Shares in Sulzer SUN.S rise 1.90% in Julius Baer
premarket trade on the back of strong order figures, following
the release of the Swiss industrial company's first quarter
results
** "Very strong order intake due to large orders" Baader
Helvea says, adding that it appears quite a few large orders
were booked for the quarter
** The Swiss company's orders up 31.2% year-on-year
organically, driven by double digit growth in all divisions, as
its order backlog rose to 2.1 billion Swiss francs ($2.35
billion)
** "Sulzer is starting the year strong driven by Energy
(oil&gas) and Chemtech and an unusually high number of large
orders which is not expected to repeat" Vontobel says
** Sulzer also confirmed its guidance for 2023
** Stock seen at the top of Swiss mid-cap index .SMIM
($1 = 0.8936 Swiss francs)
(Reporting by Ozan Ergenay)
((ozan.ergenay@thomsonreuters.com))