Swiss Rieter in good shape and fit for the 2014 business course
On January 31, 2014 we reported already the key figures of Swiss Rieter (Spun Yarn Systems and Premium Components. Today also the financial results were communicated in presence of the new CEO Dr. Norbert Klapper
We present you the financial key figures in Table 1
Table 2 gives you a breakdown of sales by region
The media conference was the first one given by the new CEO Dr. Norbert Klapper, at his side was CFO Joris Gröflin.
As TextileFuture reported before, the majority of the investment programme 2012-13 is completed. In 2014 the full additional production capacity is available in Asia. The expansion into the airjet market will continue, and the IT supported process project will be concluded. Also the reduction of temporary personnel for the past investment programme will come to an end.
The order backlog will be processed to the satisfaction of Rieter customers, measures are taken to ensure execution and profitable order intake. The processes improvements will be completed and investments leveraged.
Targets are set for a sales growth of around 5 %, EBIT (operating) margin over 9 % over the cycle and over peak years it should be better than 12 %. Net result will increase around 6 % over the cycle and in peak years better than 8 %. RONA Return on Net Assets is earmarked in peak years around 14 % and Capex Capital Expenditures between 4 – 5 %. The dividend pay-out ratio is set at approximately 30 % of the net result. For the year 2013 the shareholders will receive a dividend of CHF 3.50 paid from capital reserves.