- CHF 725.5 million in orders received; CHF 859.1 million in sales; and, as of December 31, 2024, an approximate CHF 530 million order backlog
- EBIT of CHF 28.0 million with a 3.3% EBIT margin
- CHF 2.00 per share is the proposed dividend; outlook for 2025
The amount of orders received was CHF 725.5 million, a 34% increase over the previous year (2023: CHF 541.8 million). For the fourth straight quarter, year-over-year growth was observed. The Rieter Group closed as anticipated.
revenues of CHF 859.1 million in the fiscal year 2024 (2023: CHF 1 418.6 million), which was 39% less than the previous year. An operating result (EBIT) of CHF 28.0 million (2023: CHF 104.8 million) and a strong EBIT margin of 3.3% (2023: 7.4%) were attained in spite of much lower sales.
Intake of orders
The amount of orders received in 2024 was CHF 725.5 million, 34% more than the previous year (CHF 541.8 million in 2023). As a result, Rieter was able to improve its competitive position in a competitive market. There was a noticeable early market recovery when compared to the prior year.
Divisional sales
Sales of CHF 424.9 million were reported by the Machines & Systems Division, a 56% drop from CHF 965.0 million in 2023. Within the Components Sales for the division fell to CHF 247.6 million, a 7% decrease from CHF 266.2 million during the same time last year (2023). Sales of CHF 186.6 million were recorded by the After Sales Division, which was similar to CHF 187.4 million in 2023.
Backlog of orders
The company’s order backlog at the end of 2024 was approximately CHF 530 million (CHF 650 million as of December 31, 2023).
Free cash flow, net profit, and EBIT
The year under review saw CHF 28.0 million in profit at the EBIT level (2023: CHF 104.8 million), or an EBIT margin of 3.3% (2023: 7.4%). In spite of Despite much fewer sales, a healthy EBIT margin was attained. This is mostly because the actions outlined in the “Next Level” performance program have been consistently implemented. Rieter’s net profit at the end of the 2024 fiscal year was CHF 10.4 million (2023: CHF 74.0 million).
CHF 14.1 million (2023: CHF 118.7 million) was the amount of free cash flow. New lease obligations related to the Winterthur campus caused net debt to rise to CHF 230.3 million (2023: CHF 191.2 million).
As of December 31, 2024, the equity ratio increased to 33.7%, mostly as a result of decreased net working capital (compared to 28.8% on the reporting date of the previous year) and favourable currency effects.
A dividend
Based on CHF 14.1 million in positive free cash flow, the Board of Directors suggests to shareholders that a dividend of CHF 2.00 per share be paid out in 2024. and the 33.7% enhanced equity ratio. This translates into an 85.8% payout ratio.
Sustainability
The Group strategy and Rieter’s well-defined sustainability plan are closely related. Rieter committed to the Science Based Targets project in 2024 to establish company-wide emission reduction goals that align with scientifically supported net-zero objectives for 2040. By doing this, the Rieter Group supports its clients on their sustainability path while accepting accountability for its own impact. The report on non-financial topics in the 2024 Annual Report highlights Rieter’s advancements in corporate governance, social responsibility, and the environment.
Prospects for 2025
In terms of sales volume, Rieter anticipates a difficult first half of 2025 and a better second half of the year, contingent on the market’s continued recovery. As a As a result, Rieter projects that sales volume for the entire year 2025 will be at the level of the prior year. Rieter expects a healthy EBIT margin for 2025 of 0% to 4% despite this abnormally low sales level.