Full Year 2023 Rieter Holding AG Corporate Sales Call Transcript

Mar 07, 2024

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Jan 24, 2024 / 08:00AM GMT
Operator

Ladies and gentlemen, welcome to the media and analyst conference call and live webcast and [Sasha Chorus] Call operator, (Operator Instructions) At this time. It is my pleasure to hand over to Thomas Oetterli, CEO. Please go ahead.

Thomas Oetterli Rieter Holding AG-CEO

Thank you and good morning, ladies and gentlemen. Also, a warm welcome from my side. First, let me briefly address the environment we are facing the geopolitical political challenges, inflation, high interest rates impact the textile demand in the financial year 2023, the entire textile value chain struggled with rising costs and weak demand.

The economic uncertainties were particularly noticeable in the demand for new machines, but also for consumables, wear and tear, and spare parts, resulting in a low order intake for the year. The market remains challenging, but we are confident that our performance program next level will help us to mitigate the negative impact of the geopolitical tensions.

I'm proud about the performance the Rieter team has achieved in this

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