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 Sep. 17, 2012 Source: Bucher Industries news release For complete report, click here. Marked rise in sales and profit In the first half of 2012, Bucher Industries increased sales by 21% to CHF 1 381 million, operating profit rose by 50% to CHF 133 million and the profit for the period by 64% to CHF 90 million. Order intake decreased by 9% to CHF 1 081 million as a result of economic conditions. For 2012, the Group continues to reckon with an improvement in sales, operating profit and profit for the year. Good business performance In the first half of 2012, Bucher Industries generated strong sales growth and a marked increase in operating profit and profit for the period. The well-filled order book at the start of the year, acquisitions in the first half of 2011 and strong positions in the principal markets all contributed to the positive sales trend. The Group took advantage of its efficient and flexible structures, widely sourced international purchasing and rigorous cost management in its efforts to improve the result. The Group could not escape the effects of the general economic downturn, and all operating segments reported lower order intake. With high liquid assets and an equity ratio of 39%, Bucher Industries continues to maintain its financial independence and the necessary strategic room for manoeuvre. The capital reduction approved by the annual general meeting of shareholders on 12 April 2012 was duly carried out on 27 June 2012 through the cancellation of 315 900 repurchased registered shares. The share capital of Bucher Industries AG now totals CHF 2 050 000, divided into 10 250 000 registered shares with a par value of CHF 0.20 each. Good earnings situation for farmers In a market environment with differing levels of demand, Kuhn Group achieved a marked increase in sales and operating profit. The acquisition effect of Kuhn Krause amounted to CHF 39 million. While the investment climate in most European countries was favourable, with good prices for agricultural produce, Southern European markets experienced a downturn in demand. In Eastern Europe, there were first signs of a more restrictive lending climate. Demand remained buoyant in North America. Factors contributing to this positive performance were the high level of capacity utilisation, newly launched products and a transparent pricing policy based on continuity. Kuhn Krause performed at the limits of production capacity in the reporting period. As a consequence, more than CHF 3 million will be invested in expansion of the production facilities during the current financial year. The newly expanded production plant is scheduled to start operations in October 2012. Tweet |
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