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%.
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.
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.
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.
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.