Characterized by rapid market recovery combined with a regional shift in demand, in Q3 Rieter has reported a 294 per cent year-on-year growth in order intake, over the same period of 2020.
A major reason for this regional shift in demand has been the growing costs in China. This is leading to increased investments outside the Chinese market. The orders came primarily from Turkey, Latin America, India, Pakistan and China.
Rieter is a Swiss supplier of systems for short-staple fiber spinning. Demand for new systems is expected to gradually return to normal in coming months. The machines and systems business achieved 447 per cent jump in order intake during the first nine months of 2021, attributed to the regional shift in demand. While the components business recorded a jump of 95 per cent after sales were up 123 per cent.
The realization of sales from order backlog continues to be associated with risks, in the light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in countries that are important for Rieter.