Rieter has reported significant sales growth despite market challenges and has strategically sold its Winterthur site to improve financial stability, anticipating a gradual market recovery in 2024.
Target Information
Rieter, a leading global supplier of spinning systems, focuses on the textile industry with innovative solutions for spinning mills. The company's cumulative sales for the first nine months of 2023 reached CHF 1,092.9 million, reflecting an 11% increase compared to the same period last year. Rieter attributes this growth to a slight easing of supply bottlenecks which enabled the delivery of more machines.
Despite a decline in third-quarter sales to CHF 334.7 million from CHF 366.8 million in Q3 2022, Rieter's performance across its various business groups remains varied. The Machines & Systems group saw a sizable sales increase, while the Components group experienced a decline, indicating a mixed market response to ongoing challenges in the spinning industry.
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Industry Overview in Switzerland
The Swiss textile machinery industry, known for its commitment to quality and innovation, has faced significant challenges due to economic fluctuations, including rising interest rates and ma
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Disclosed details
Transaction Size: $106M
Revenue: $1M
EBIT: $73M