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Press release 17.04.2019

Annual general meeting approves all proposals of the Board of Directors

At today's annual general meeting of Bucher Industries AG, the shareholders agreed to all the proposals put forward by the board of directors. The dividend is CHF 8.00 per registered share. 213 shareholders with voting rights were present and a total of 72.84% of the votes were represented.

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Silvia Oppliger and Prisca Wolfensberger
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Annual general meeting approves all proposals of the Board of Directors

At today's annual general meeting of Bucher Industries AG, the shareholders agreed to all the proposals put forward by the board of directors. The dividend is CHF 8.00 per registered share. 213 shareholders with voting rights were present and a total of 72.84% of the votes were represented.

Successful 2018 financial year

Bucher Industries increased sales by 16% in the 2018 financial year, exceeding the CHF 3 billion mark. All divisions increased sales in double-digit percentage terms. The Group posted an operating profit margin of 9.1%. The profit for the year amounted to CHF 215 million, showing a much stronger growth than sales. The board of directors is proposing a dividend of CHF 8.00 per registered share.

Pleasing 2018 business year

2018 was a successful year for Bucher Industries. Sales rose by 16%, surpassing the CHF 3 billion mark for the first time. All divisions contributed to this positive development. The economic momentum was particularly strong in the first half of the year and diminished somewhat towards the end of the year. The Group anticipates a marked rise in the profit for the year.

Demand remains robust

Overall, in the first nine months of 2018, the positive trend in the markets of Bucher Industries continued. All five divisions made a contribution to the significant increase in both order intake and sales.

Bucher Industries strengthens its agricultural machinery businesses

The two divisions of Bucher Industries active in the agricultural machinery market are expanding their businesses by taking over leading suppliers in their respective fields: Kuhn Group is acquiring Artec Pulvérisation, one of the leading manufacturers of self-propelled agricultural sprayers in France, while Bucher Specials with its Bucher Landtechnik business unit is buying the import business of Grunderco S.A. with combines as well as the associated service business with contractors. The parties have agreed not to disclose the purchase prices.

Pleasing performance in the first half of 2018

Order intake at Bucher Industries rose by 20% year on year in the first half of 2018. All divisions contributed to this positive development. Group sales increased by 19%. Of this increase, 5 percentage points were attributable to the currency translation effect, largely as a consequence of the stronger euro. The operating profit margin stood at 9.1%. Bucher Industries will change its accounting standards from IFRS to Swiss GAAP FER as per 1 January 2019.

Bucher Hydraulics acquires majority interest in Wuxi Deli Fluid Technology Co., Ltd in China

Bucher Hydraulics, a division of Bucher Industries, has agreed to form a joint venture in China by acquiring an 80% stake in Wuxi Deli Fluid Technology Co., Ltd, the leading manufacturer of hydraulic pumps and compact power units in China. This acquisition will strengthen the division’s presence in China as well as its global product range. The transaction is yet to be approved by the Chinese authorities.

Pleasing rise in order intake and sales

Bucher Industries’ order intake rose by 18% year-on-year in the first quarter of 2018. The Group’s sales increased by 17%, with all five divisions contributing to this positive performance.

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