Record year confirmed for Rieter
Swiss textile machinery group Rieter has confirmed sales revenue figures of more than 1.5 billion Swiss francs (more than $1.6 billion) in 2022. It hinted at the likelihood of this on announcing a change of chief executive at the end of January, but it published the figures formally on March 9. The figure is a record for the group.
But Rieter said 2022 was also characterised by “enormous challenges, geopolitical uncertainties, a rapid rise in inflation, and additional development expenditure to compensate for material bottlenecks”. All of these weighed heavily on earnings.
By the end of 2022, Rieter had an order backlog that it valued at a further 1.5 billion Swiss francs and it said it would work during 2023 and 2024 to fulfil these orders.
