Sharp decline in sales for Rieter in first half - sportstextiles: Lea SportsTextiles

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Sharp decline in sales for Rieter in first half of 2019

18/07/2019
Textile machinery manufacturer Rieter has reported sales of CHF 416.1 million in the first six months of 2019, a drop of 19% compared to the same period of last year.

The company said this decline was primarily caused by lower demand for new machinery. Its ‘Machines & Systems’ business saw year-on-year sales fall by 27%.

Sales in China, Rieter’s most important market, fell by 12% and there was a drop of 58% in sales to Turkish customers. The one bright spot was India, with sales to this market 11% higher than in the first half of 2018.

Excluding these three major markets, the group achieved sales of CHF 165.4 from the rest of Asia. This represents a decrease of 17% year-on-year. 

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