Bystronic AG / CH0244017502
16.10.2024 - 06:30:04Ongoing weak market dynamics impact order intake
| Bystronic AG / Key word(s): 9 Month figures 16.10.2024 / 06:30 CET/CEST Declining order intake in the first nine months in all regions Minor improvement of order intake in third quarter 2024 over both previous quarters Implementation of further restructuring program measures
Zurich, October 16, 2024 – In the first nine months of 2024, the market environment remained challenging, and order intake at CHF 466.7 million was 25.3% below the prior year (-22.9% at constant exchange rates). Due to customers’ restrained investment activity, new orders declined in all regions. Compared to the first two quarters of 2024, the third quarter was slightly better for Bystronic due to positive developments in the APAC and China regions. Sales declined 28.3% in the first nine months (-25.9% in constant exchange rates) to CHF 488.4 million. As part of the previously announced restructuring program, Bystronic has launched wide ranging measures and reduced the size of the company’s executive board to four members. With the introduction of a divisional organizational structure, group functions and locations are being consolidated. In total, Bystronic will eliminate about 500 positions worldwide. Included in that are about 80 employees at the Niederönz (Switzerland) location. In addition, Bystronic is closing the former production for automation solutions in Italy. Automation products will continue to be produced in China and Switzerland. Media release (PDF) For queries: Chief Financial Officer Beat Neukom Telephone +41 62 956 40 79 beat.neukom@bystronic.com Media Relations Michael Präger Mobile +41 79 870 01 43 michael.praeger@bystronic.com About Bystronic Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry. Disclaimer This media release has been published in English and German. Should the English translation differ from the German original, the wording of the German version shall prevail. This media release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic’s ability to control or predict precisely, such as, in particular, future market conditions, currency fluctuations, or the behavior of other market participants, suppliers, and transport companies, as well as possible effects of the war in Ukraine and the associated sanctions. Readers are cautioned not to put undue reliance on forward-looking statements, since these relate only to the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other factors. End of Media Release |
| Language: | English |
| Company: | Bystronic AG |
| Giesshübelstrasse 45 | |
| 8045 Zürich | |
| Switzerland | |
| Phone: | +41 79 637 46 33 |
| E-mail: | investor@bystronic.com |
| Internet: | ir.bystronic.com |
| ISIN: | CH0244017502 |
| Valor: | A117LR |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2008203 |
| End of News | EQS News Service |
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