Demand for the products and services of Bucher Industries declined notably in the first half of 2020 as a consequence of the spread of COVID-19. A recovery set in at mid-year and gained momentum towards the end of the reporting period, but order intake and sales were nevertheless lower overall. The Group expects the operating profit margin for 2020 to be slightly higher than at mid-year and profit for the period to be correspondingly lower versus 2019.
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.
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.
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.
Bucher Municipal, a division of Bucher Industries, is acquiring 100% of the leading French distributor of municipal vehicles Eurovoirie SAS. This allows the division to directly market its entire product portfolio of municipal vehicles to French customers and to better service them.
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.
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.
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.
Bucher Municipal, a division of Bucher Industries, is acquiring 100% of the Chinese sewage tanker manufacturer Zynkon. This allows the division to access the growing Chinese market for sewage cleaning vehicles and to strengthen its presence in Asia.
Bucher Industries’ order intake in the first quarter of 2019 was in line with the very good prior-year period. Sales rose in four of the five divisions, resulting in a significant increase in group sales of 14%.