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16.04.2020

Rieter Annual General Meeting 2020

  • All motions approved
  • Dividend of CHF 4.50 agreed
  • COVID-19

In relation to participation in the Annual General Meeting on April 16, 2020, the Board of Directors of Rieter Holding Ltd. arranged exclusively written or electronic voting and the granting of power of attorney to the independent proxy. In taking this approach, the Board of Directors relied on Article 6a, lit. b of Ordinance 2 of the Swiss Federal Council (Measures to Combat the Coronavirus of March 16, 2020). Physical participation by the shareholders was therefore not possible. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 16, 2020, the independent proxy represented a total of 2 025 shareholders who hold 64.3% of the share capital.

A dividend of CHF 4.50 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2021.

  • All motions approved
  • Dividend of CHF 4.50 agreed
  • COVID-19

In relation to participation in the Annual General Meeting on April 16, 2020, the Board of Directors of Rieter Holding Ltd. arranged exclusively written or electronic voting and the granting of power of attorney to the independent proxy. In taking this approach, the Board of Directors relied on Article 6a, lit. b of Ordinance 2 of the Swiss Federal Council (Measures to Combat the Coronavirus of March 16, 2020). Physical participation by the shareholders was therefore not possible. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 16, 2020, the independent proxy represented a total of 2 025 shareholders who hold 64.3% of the share capital.

A dividend of CHF 4.50 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2021.

The Chairman of the Board, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Michael Pieper, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional one-year term of office.
Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office.

Shareholders also adopted all other motions proposed by the Board of Directors, namely approval of the annual report, the financial statements and the consolidated financial statements for 2019, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review. In addition, the authorized capital was extended for a further two years.

COVID-19
At present, it is not possible to predict how the global COVID-19 pandemic will affect Rieter’s sales and earnings in the first and second half of 2020, and thus also for 2020 as a whole.

Rieter therefore refrains from providing an outlook for financial year 2020 and will issue the relevant information as part of the semi-annual report on July 16, 2020.
The company has taken the necessary measures to protect employees and to meet commitments to customers as far as possible.

Thanks to long-standing customer relationships, a focus on innovation, global positioning and the company’s financial stability, Rieter will successfully overcome the challenges.

More information:
Rieter Rieter Holding Ltd.
Source:

Rieter Management AG

Rieter Holding Ltd.
Rieter Holding Ltd.
03.02.2020

Rieter signed additional contracts at the Swiss-Egyptian Investment Forum

At the Swiss-Egyptian Investment Forum which took place on February 3 in Cairo (Egypt), the Cotton & Textiles Holding Company and Rieter signed additional contracts related to the modernization program for the Egyptian textile industry.

Further Orders from Egypt:

  • Contracts for additional projects signed in Cairo
  • Order volume is around 30 million Swiss francs
  • Order intake in the first half year of 2020 expected

The total volume of the contracts sums up to around 210 million Swiss Francs, including the contracts which had been signed at ITMA 2019 in Barcelona and which represent a volume of around 180 million Swiss Francs.

Rieter expects the full amount of orders to be booked as order intake in the first half year of 2020. So far, 165 million Swiss Francs have been booked.

 

At the Swiss-Egyptian Investment Forum which took place on February 3 in Cairo (Egypt), the Cotton & Textiles Holding Company and Rieter signed additional contracts related to the modernization program for the Egyptian textile industry.

Further Orders from Egypt:

  • Contracts for additional projects signed in Cairo
  • Order volume is around 30 million Swiss francs
  • Order intake in the first half year of 2020 expected

The total volume of the contracts sums up to around 210 million Swiss Francs, including the contracts which had been signed at ITMA 2019 in Barcelona and which represent a volume of around 180 million Swiss Francs.

Rieter expects the full amount of orders to be booked as order intake in the first half year of 2020. So far, 165 million Swiss Francs have been booked.

 

Source:

Rieter Holding Ltd.

29.10.2019

Rieter Investor Update 2019

  • Order intake of CHF 524.5 million after nine months
  • Order intake for a major project from Egypt booked in October 2019
  • Market situation remains challenging
  • Real estate sale in Ingolstadt successfully completed
  • Outlook 2019

The cumulative order intake recorded by Rieter Group in the first nine months of 2019 of CHF 524.5 million (2018: CHF 749.8 million) was down by 30% compared to the prior-year period. In the third quarter of 2019, order intake was CHF 146.2 million (Q3 2018: CHF 238.0 million).

Order Intake for a Major Project from Egypt Booked
On October 7, 2019, Rieter booked the order intake for the first six projects with Cotton & Textile Industries Holding Company, Cairo (Egypt) of around CHF 165 million. This amount is thus not included in the figures for the third quarter of 2019 and will positively affect the fourth quarter. The sales are anticipated to be realized in the 2020/2021 financial years. The order includes deliveries of compact and ring spinning systems and it is part of a comprehensive modernization program for the Egyptian textile industry.

  • Order intake of CHF 524.5 million after nine months
  • Order intake for a major project from Egypt booked in October 2019
  • Market situation remains challenging
  • Real estate sale in Ingolstadt successfully completed
  • Outlook 2019

The cumulative order intake recorded by Rieter Group in the first nine months of 2019 of CHF 524.5 million (2018: CHF 749.8 million) was down by 30% compared to the prior-year period. In the third quarter of 2019, order intake was CHF 146.2 million (Q3 2018: CHF 238.0 million).

Order Intake for a Major Project from Egypt Booked
On October 7, 2019, Rieter booked the order intake for the first six projects with Cotton & Textile Industries Holding Company, Cairo (Egypt) of around CHF 165 million. This amount is thus not included in the figures for the third quarter of 2019 and will positively affect the fourth quarter. The sales are anticipated to be realized in the 2020/2021 financial years. The order includes deliveries of compact and ring spinning systems and it is part of a comprehensive modernization program for the Egyptian textile industry.

Market Situation Remains Challenging
The demand for new machinery remained at a low level in the third quarter of 2019. The primary reasons are existing overcapacity in the spinning mills, the trade conflict between the USA and China, as well as political and economic uncertainties in other regions of importance to Rieter. Rieter's market share continues to be at the level of around 30%.

Real Estate Sale in Ingolstadt Successfully Completed
Rieter completed the real estate sale in Ingolstadt (Germany) to GERCHGROUP of Düsseldorf (Germany) on September 13, 2019. Rieter expects a non-recurring profit contribution from this transaction on a net profit level of around EUR 60 million.

Outlook 2019
Rieter estimates significantly lower sales for the year 2019 as a whole compared to 2018, and expects a significant drop in the result from the ongoing business. EBIT and net profit are anticipated to be significantly above the levels of the previous year due to the non-recurring profit contribution from the sale of real estate in Ingolstadt (Germany). The cost-cutting measures introduced have been implemented to a great extent.

More information:
Rieter Holding Ltd.
Source:

Rieter Holding Ltd.

(c) Rieter Holding AG
13.09.2019

Rieter Completes Real Estate Sale in Ingolstadt

  • Transaction completed in Ingolstadt
  • Extraordinary profit contribution after tax of EUR 60 million expected
  • Board of Directors approves submission of building application for Rieter CAMPUS in Winterthur
  • Project volume of around CHF 80 million expected

Rieter completed the real estate sale in Ingolstadt (Germany) to GERCHGROUP AG of Düsseldorf (Germany) on September 13, 2019. As reported in December last year, Rieter expects an extraordinary profit contribution after tax of around EUR 60 million from this transaction.

The employees in Ingolstadt will move into a new building in the second half of 2021. Rieter will thus create a modern working environment for innovative research and development work and the respective support functions.

  • Transaction completed in Ingolstadt
  • Extraordinary profit contribution after tax of EUR 60 million expected
  • Board of Directors approves submission of building application for Rieter CAMPUS in Winterthur
  • Project volume of around CHF 80 million expected

Rieter completed the real estate sale in Ingolstadt (Germany) to GERCHGROUP AG of Düsseldorf (Germany) on September 13, 2019. As reported in December last year, Rieter expects an extraordinary profit contribution after tax of around EUR 60 million from this transaction.

The employees in Ingolstadt will move into a new building in the second half of 2021. Rieter will thus create a modern working environment for innovative research and development work and the respective support functions.

On September 13, 2019, the Board of Directors of Rieter Holding Ltd. has made the decisions required for the building application regarding the Rieter CAMPUS project to be submitted in good time. The Rieter CAMPUS in Winterthur will consolidate customer center, product and technology development and administration. Rieter expects to implement the project with a project volume of around CHF 80 million. Archaeological excavations and the demolition of the building “Werkhalle 40” are currently underway.

The Rieter CAMPUS will make an important contribution to the implementation of the innovation strategy and thus to the successful further development of the company. Approval of the building application is expected in spring of 2020.

 

More information:
Rieter Holding Ltd.
Source:

Rieter Holding AG

04.04.2019

Rieter General Meeting 2019

At the 128th Annual General Meeting of Rieter Holding Ltd. on April 4, 2019, 502 shareholders, who represent 63.8% of the share capital, participated. A dividend of CHF 5.00 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for the fiscal year 2020.

The Chairman of the Board of Directors, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Michael Pieper, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional oneyear term of office.

Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also re-elected for a one-year term of office.

At the 128th Annual General Meeting of Rieter Holding Ltd. on April 4, 2019, 502 shareholders, who represent 63.8% of the share capital, participated. A dividend of CHF 5.00 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for the fiscal year 2020.

The Chairman of the Board of Directors, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Michael Pieper, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional oneyear term of office.

Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also re-elected for a one-year term of office.

Shareholders also adopted all other motions proposed by the Board of Directors, namely approval of the annual report, the financial statements and the consolidated financial statements for 2018, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review.

More information:
Rieter Rieter Holding Ltd.
Source:

Rieter Management Ltd.