March 13, 2019 / 5:40 AM / in 10 days

BRIEF-Rieter Holding Says Order Intake Down 17% At CHF 868.8 Mln

March 13 (Reuters) - Rieter Holding AG:

* IN 2018, RIETER RECORDED AN ORDER INTAKE OF CHF 868.8 MILLION, DOWN 17% YOY

* FY SALES INCREASE BY 11% TO CHF 1 075 MILLION

* FY NET PROFIT UP AT CHF 32.0 MILLION VERSUS CHF 13.3 MILLION YEAR AGO

* SAYS WEAK MARKET ENVIRONMENT ALSO LED TO LOW DEMAND IN THE FIRST TWO MONTHS OF 2019

* SEES SIGNIFICANT DECLINE IN SALES, EBIT AND NET PROFIT FOR BOTH FIRST HALF OF THE YEAR AND WHOLE 2019

* SAYS IS WORKING ON THE IMPLEMENTATION OF CAPACITY ADJUSTMENT AND COST REDUCTION MEASURES

* SAYS MEASURES INCLUDE A REDUCTION OF THE GLOBAL WORKFORCE OF AROUND 5% Source text - bit.ly/2F8XTWC Further company coverage: (Gdynia Newsroom)

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