Rieter Holding : Q3 down more than expected – Guidance 2024: sales at the lower end of the range while EBIT margin confirmed
>Q3 sales down 51% to CHF 163.3m heavily impacted by Machines & Systems - Rieter just published its Q3 sales, which came in a below our expectations: After a sharp drop of 44% in H1, Q3 sales shows deeper decline of 51% y-o-y to CHF 163.3m (ODDO BHF CHF 240.5m, consensus CHF 250.1m). The gap between recorded sales and our estimates/Css estimates (-32%, -35% respectively) comes mainly from a more than anticipated drop in Machines & Systems (40% of Q3 sales) o...Rieter is a holding company, engaged in providing equipment to spinning mills processing short-staple fibers. Co. develops and manufactures machinery, systems and components used to convert natural and manmade fibers and their blends into yarns. Co. consists of two reportable segments, spun yarn systems, and premium textile components. Co.'s spun yarn systems develops and manufactures machinery and systems for processing natural and man-made fibers and their blends into yarns. Co.'s premium textile components supplies technology components to spinning mills and also to machinery manufacturers.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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