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.
In the first quarter of 2016 Group sales fell by 7% and order intake by 13%. The good overall business performance was unable to compensate for the downturn in both agricultural machinery and municipal vehicles.
At today’s annual general meeting, the shareholders approved all the board’s proposals, elected Philip Mosimann as the new chairman and confirmed all the board members standing for election. A dividend of CHF 5.50 per share was approved.
The 2015 financial year at Bucher Industries was affected by the strong Swiss franc, the sluggish performance of important markets, and geopolitical uncertainties. This challenging environment resulted in a decline of 11% in order intake and sales. The operating profit margin stood at 8.3% and group profit was CHF 140 million. The board of directors is proposing a dividend of CHF 5.50 per share to the annual general meeting of 15 April 2016.
Bucher Municipal, a division of Bucher Industries, has taken over J. Hvidtved Larsen A/S (JHL), a technologically advanced Danish manufacturer of truck-mounted sewer-cleaning units with a strong base in Scandinavia and the UK. The acquisition provides growth opportunities for Bucher Municipal and brings together JHL’s expertise in sewer cleaning, Bucher Municipal’s in-depth understanding of the municipal markets and the strength of its firmly established distribution network.
Aurelio Lemos, previously responsible for Bucher Hydraulics Switzerland, is to take over as head of Bucher Municipal, a division of Bucher Industries, with effect from 1 March 2016. Bucher Municipal plans to restructure sweeper manufacture, in future producing all compact sweepers in Latvia and truck-mounted sweepers in Great Britain. The transfer of production will serve to maintain competitiveness and concerns the sites in Switzerland, Great Britain and Latvia. The manufacture of specialist truck-mounted sweepers, which is located in Denmark, will not be affected. The engineering, sales and service organisations of the Bucher and Johnston brands will similarly remain untouched by the planned measures.
Bucher Industries recorded an 11% fall in both sales and order intake in fiscal 2015, with currency effects accounting for around 7% of the decline. For 2015 as a whole, the Group is expecting a decrease in operating profit and profit for the year.
Christina Johansson, presently Chief Financial Officer at SR Technics Group, will take over the position of CFO at Bucher Industries in the fourth quarter of 2016. After 20 years’ service as CFO at Bucher Industries, Roger Baillod is becoming independent to pursue his career as a professional board member.
In the first three-quarters of 2015, sales and order intake at Bucher Industries fell by 4% in local currencies. In terms of Swiss francs, sales decreased year on year by 11%. For the 2015 business year as a whole, the Group is expecting sales and operating profit in terms of local currencies to decrease.
Michael Häusermann, a member of group management and head of the Bucher Municipal division, is leaving the Bucher Industries Group by mutual consent in order to pursue a new career path. Coen van Rosmalen, managing director of Johnston Sweepers Ltd, UK, a company belonging to Bucher Municipal, is taking over the management of the division on an ad interim basis with immediate effect.