Financial Year 2022 

  • Record sales of CHF 1 510.9 million, despite enormous challenges in their  realization 
  • Continued high order intake of CHF 1 157.3 million in 2022; order backlog  of around CHF 1 540 million as of December 31, 2022 
  • EBIT margin of 2.1% despite the challenging environment Implementation of action plan to increase profitability ongoing Dividend of CHF 1.50 per share proposed 
  • Outlook 

The 2022 financial year was characterized by record sales of CHF 1 510.9 million  and enormous challenges in their realization. Geopolitical uncertainties, the rapid  rise in inflation, and additional development expenditure to compensate for material  bottlenecks, weighed heavily on earnings. Higher expenses were also incurred in  connection with the acquired businesses. Despite the exceptionally challenging  environment, Rieter generated an EBIT margin of 2.1%. Implementation of the  measures already initiated to improve profitability is continuing. 

Sales, Order Intake and Order Backlog 

With record sales of CHF 1 510.9 million, Rieter achieved an increase of 56%  compared with the previous year (2021: CHF 969.2 million). In the second half of  2022, especially in the fourth quarter, the measures introduced to address material  bottlenecks had a positive impact. Consequently, sales increased to CHF 890.3  million compared with the first six months (first half-year 2022: CHF 620.6 million). 

Order intake was CHF 1 157.3 million in 2022 (2021: CHF 2 225.7 million) and thus  remained at a high level thanks to the company’s technological lead and broad  international presence. The market situation, especially in the second half of 2022,  was characterized by investment restraint and below-average capacity utilization at  spinning mills due to geopolitical uncertainties, rising financing costs, and consumer  reticence in important markets. 

The company had an order backlog of around CHF 1 540 million at the end of 2022,  which thus extends into 2023 and 2024. 

EBIT, Net Profit and Free Cash Flow 

The profit at the EBIT level in the 2022 financial year was CHF 32.2 million (2021:  CHF 47.6 million). The result was strongly influenced by substantial cost increases,  which could only be offset in part through price increases or other remedial  

measures. In addition, to compensate for material shortages, expenses were  incurred in connection with the development of alternative solutions, and in relation  to the acquired businesses. In the 2022 financial year, an EBIT margin of 2.1% was  achieved (2021: 4.9%) despite these challenges. Rieter closed 2022 with a positive  result and achieved a net profit of CHF 12.1 million, equivalent to 0.8% in relation to  sales, following a net loss in the first half of 2022. 

Free cash flow was CHF -98.6 million, mainly a result of the build-up of inventories  for deliveries in the 2023 financial year. Accordingly, net debt was CHF 285.6 million  (2021: CHF 161.9 million). As of December 31, 2022, Rieter had liquid funds of CHF  176.1 million (2021: CHF 249.4 million). 

The equity ratio as of December 31, 2022, was 23.4%, mainly due to the increased  working capital and foreign exchange differences (previous year’s reporting date  27.6%). 

Completion of the Acquisition 

Rieter consolidated the acquired automatic winding machine business with effect  from April 1, 2022. This acquisition completes Rieter’s system offering in the largest  market segment of ring and compact spinning, thus significantly strengthening the  company’s market position. 

Action Plan to Increase Profitability 

Implementation of the action plan to increase profitability is ongoing. With regard to  the margins for the order backlog, which remains high, the already implemented price  increases in combination with a positive trend in costs, particularly in logistics, are  having a favorable impact. In addition, progress was made in eliminating material   bottlenecks and reducing expenses for the three acquired businesses. 

Innovation Program 

In the context of ITME 2022 in Delhi (India), Rieter presented solutions for the   economical production of yarns from recycled fibers, which met with great customer  interest. As the technology leader, Rieter will present new, innovative products at   ITMA 2023 in Milan (Italy). 

Rieter Site Sales Process 

The sales process for the remaining land at the Rieter site in Winterthur (Switzerland)  is proceeding according to plan. In total, around 75 000 m2 of land will be sold. The  Rieter CAMPUS is not part of this transaction. 


The Board of Directors proposes to the shareholders the distribution of a dividend of  CHF 1.50 per share for 2022. This corresponds to a payout ratio of 56%

Board of Directors and Annual General Meeting 

At the 131st Annual General Meeting held on April 7, 2022, the shareholders  approved all motions proposed by the Board of Directors. The Chairman of the  

Board, Bernhard Jucker, and the Directors, Hans-Peter Schwald, Peter Spuhler,  

Roger Baillod and Carl Illi, were confirmed for a further one-year term of office. Sarah  Kreienbühl and Daniel Grieder were newly elected for a one-year term of office as  members of the Board of Directors. The members of the Remuneration Committee  who were standing for election – Hans-Peter Schwald and Bernhard Jucker – were  also re-elected for a one-year term of office. Sarah Kreienbühl was newly elected for  a one-year term of office as a member of the Remuneration Committee, and takes  over the chair. 


For the coming months, Rieter expects below-average demand for new equipment at  first, with a revival expected in the second half of 2023 after ITMA, the leading trade  fair in Milan (Italy). Rieter also believes that demand for consumables, wear & tear  and spare parts will recover during 2023.  

For the 2023 financial year, due to the high order backlog, Rieter anticipates sales in  the order of magnitude of the previous year. 

The realization of sales from the order backlog continues to be associated with risks  in connection with the ongoing geopolitical uncertainties, rising financing costs,  continuing bottlenecks in the supply chains, and possible, currently unforeseeable  consequences of the earthquake in Türkiye in February 2023. Despite the price   increases already implemented, further global cost increases continue to pose a risk  to the growth of profitability. Rieter will specify the outlook in the 2023 semi-annual report.