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Press release 19.03.2020

2020 annual general meeting – coronavirus

The annual general meeting of Bucher Industries on 24 April 2020 will be held without the physical attendance of shareholders in accordance with the Federal Council Ordinance on Measures to Combat the Coronavirus (COVID-19 Ordinance 2). The exercise of voting rights may be delegated to the independent proxy holder by written or electronic proxy.

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Corporate Communications
Silvia Oppliger and Prisca Wolfensberger
+41 43 815 80 40
media@bucherindustries.com

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2020 annual general meeting – coronavirus

The annual general meeting of Bucher Industries on 24 April 2020 will be held without the physical attendance of shareholders in accordance with the Federal Council Ordinance on Measures to Combat the Coronavirus (COVID-19 Ordinance 2). The exercise of voting rights may be delegated to the independent proxy holder by written or electronic proxy.

Temporary shut-down of French production sites

Due to the current development with the spread of the COVID-19 virus and the related directives of the French Government, Bucher Industries has decided to temporarily shut down production sites in France.

Good result despite lower demand

The financial year 2019 was defined by a challenging market environment, with demand still very high but slowing. Sales were up again slightly on the excellent previous year. The Group’s operating profit margin was 9.2%. Profit for the year was CHF 228 million. The board of directors proposes a dividend of CHF 8.00 per registered share.

Record sales despite weaker demand in 2019

For Bucher Industries, 2019 was a year defined by a challenging market environment. Demand declined overall, albeit from a very high level. Thanks to the exceptionally strong order book at the beginning of the reporting period and a significant increase at Bucher Emhart Glass, sales rose again slightly over the very strong previous year. The Group expects operating profit for the reporting period to fall just slightly short of the good result achieved in 2018. The Group’s profit for the year is expected to be on a par with that of the previous year.

Sales continue to grow despite weaker demand

Developments in Bucher Industries' markets were very mixed in the first nine months of 2019. Demand declined on balance, albeit from a high level. This led to lower order intake. Sales, on the other hand, continued to rise, thanks to a very strong order book at the start of the year.

First half of 2019: pleasing sales growth despite drop in demand

Bucher Industries’ market environment was positive overall in the first half of 2019, but with declining demand, albeit from a high level. Accordingly, order intake declined slightly, while sales continued to rise. The operating profit margin fell slightly short of the strong margin achieved in the prior-year period. This interim report was prepared for the first time in accordance with the accounting standards of Swiss GAAP FER instead of IFRS. For the purpose of comparability, the prior-year figures were restated accordingly.

Bucher Industries pushes ahead with its commitment to sustainability

In 2018, Bucher Industries undertook further initiatives to implement its sustainability strategy. The divisions launched new products, including an agricultural machine that works the soil without depleting it, hydraulic components specially designed for electrified machines and a control solution that reduces the use of plastic in food packaging. Bucher Industries prepares its sustainability report in accordance with the GRI Standards.

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