Rieter – Milestone Reached in Strategic Repositioning
Ad hoc announcement pursuant to Art. 53 LR
- Order intake of CHF 703.4 million
- Sales of CHF 685.1 million
- Positive operating EBIT of CHF 2.5 million
- New medium-term targets
- Outlook for 2026
Rieter successfully completed the acquisition of Barmag on February 2, 2026, and reached an important milestone in the company’s repositioning. Barmag will be integrated into the Rieter Group as the “Man-Made Fiber” Division. With this strategically transformative acquisition, Rieter is expanding its core business beyond the short-staple fiber business in a targeted way. This positions Rieter as the global market leader along the entire value chain for natural and man-made fibers. In addition, as a complete systems supplier, Rieter is further strengthening its technological leadership in the areas of automation and digitization.
The transaction is a consistent step in implementing Rieter’s long-term growth strategy and builds on previous acquisitions that have systematically expanded the portfolio. Since acquiring the automatic winding machine in the 2021 financial year, Rieter has been the only system supplier covering the entire production process from fiber preparation to all four end-spinning technologies.
Through the acquisition of Barmag, Rieter is expanding its sales markets to include the structurally growing man-made fiber market. With this additional technological breadth, Rieter increases its resilience and reduces dependence on cyclical fluctuations in individual end markets. This paves the way for Rieter to capitalize on the expected recovery of the global textile machinery market. At the same time, the Man-Made Fiber Division strengthens Rieter’s market position in the long term in the strategically important Asia region.
Order intake
Order intake remained constant on a currency-adjusted basis. It amounted to CHF 703.4 million in 2025 (2024: CHF 725.5 million). The expected wider market recovery has been delayed due to the ongoing global trade conflict (particularly the punitive US tariffs) and geopolitical uncertainty.
The Machines & Systems Division posted an order intake of CHF 346.3 million (2024: CHF 364.2 million). While the Machines & Systems Division recorded an increase in demand, order completion was significantly impacted by uncertainty surrounding customs tariffs and the geopolitical and economic situation.
The Components Division generated an order intake of CHF 193.5 million (2024: CHF 206.6 million) and is suffering under lower demand for components for new machines, mainly due to the cautious investment activity in the market.
The After Sales Division recorded a pleasing 6% increase in its order intake to CHF 163.6 million (2024: CHF 154.7 million). This positive development confirms the strategic growth initiatives that have been launched. Incoming orders are benefiting from increased sales activities in the target markets, such as Central Asia and China, as well as from the ongoing expansion of the service and repair network.
Sales
The Rieter Group closed the 2025 financial year with sales of CHF 685.1 million (2024: CHF 859.1 million), thus remaining 20% below the previous year’s period.
The Machines & Systems Division posted sales of CHF 329.1 million, down 23% on the previous year (2024: CHF 424.9 million). Sales in the Components Division fell by 19% year on year to CHF 200.8 million (2024: CHF 247.6 million). The After Sales Division posted sales of CHF 155.2 million, down 17% over the previous year (2024: CHF 186.6 million).
Order backlog
At the end of 2025, the company had an order backlog of around CHF 510 million (December 31, 2024: CHF 530 million).
Operating EBIT, net profit, free cash flow
Despite the decline in sales, Rieter achieved a positive operating EBIT of CHF 2.5 million (before restructuring and transaction costs). This is primarily attributable to the consistent implementation of additional cost measures. Owing to extraordinary restructuring expenses and transaction costs in connection with the acquisition of Barmag in the amount of CHF 54.2 million, Rieter closed the 2025 financial year with a net loss of CHF 63.4 million (2024: net profit of CHF 10.4 million).
Free cash flow was CHF -40.6 million (2024: CHF 14.1 million). Owing to the capital increase already completed to finance the acquisition of Barmag, net liquidity amounted to CHF 184.3 million (2024: CHF -230.3 million).
The equity ratio increased to 53.3% as of December 31, 2025 (previous year: 33.7%), which was due in particular to the capital increase completed in October 2025 in connection with the Barmag acquisition. The acquisition was completed on February 2, 2026.
Dividends
The Board of Directors proposes to the shareholders that no dividend be distributed in view of the negative Group result. The company continues to adhere to its fundamental dividend policy of distributing at least 40% of net profit.
New medium-term targets
Rieter is pursuing a soft integration approach for Barmag. In this context, Rieter confirms a preliminary synergy assumption of at least CHF 20 million resulting from the acquisition. These synergies are reflected in the new medium-term targets. An update on the realization of synergies will be provided with the results for the first half of 2026.
Rieter sees strong potential for the combined company beyond 2026. To this end, it has defined three new market scenarios following the successful realization of synergies from the Barmag acquisition:
Low scenario
In a subdued market environment with slow recovery in terms of demand and ongoing price pressure, sales of around CHF 1.4 billion are expected, with an operating EBIT margin of 2 to 5%.
Medium scenario
In a normalized market environment with stable demand, sales of around CHF 1.8 billion are expected, with an operating EBIT margin of 5 to 8%.
High scenario
In a strong market environment with broad-based demand and high capacity utilization, sales could reach CHF 2.2 billion, with an operating EBIT margin of 8 to 11%.
Outlook for 2026
In 2026, a year of transition, Rieter expects sales in the range of CHF 1.3 to CHF 1.5 billion.
The outlook for 2026 reflects the integration of Barmag and the restructuring measures announced in 2025, which are yet to be fully implemented. As a result, a positive operating EBIT margin in the range of 0 to 3% is expected. Financing for the further development of the combined company is fully secured.
Key Figures
| CHF million | 2024 | 2025 | Difference |
|---|---|---|---|
| Rieter | |||
| Order intake | 725.5 | 703.4 | -3% |
| Sales | 859.1 | 685.1 | -20% |
| Operating EBIT | 33.9 | 2.5 | -93% |
| - in % of sales | 3.9 | 0.4 | |
| EBIT | 28.0 | -43.9 | -257% |
| - in % of sales | 3.3 | -6.4 | |
| Net profit | 10.4 | -63.4 | -710% |
| - in % of sales | 1.2 | -9.3 | |
| Purchase of property, plant, equipment, and intangible assets | 25.6 | 15.2 | -41% |
| Total assets at December 31 | 1 217.8 | 1 465.3 | 20% |
| Shareholders’ equity before appropriation of retained earnings at December 31 | 410.4 | 780.6 | 90% |
| Number of employees (excl. temporaries) at December 31 | 4 785 | 4 220 | -12% |
| Machines & Systems Division | |||
| Order intake | 364.2 | 346.3 | -5% |
| Sales | 424.9 | 329.1 | -23% |
| Operating EBIT | -3.8 | -33.0 | -768% |
| EBIT | -8.4 | -48.0 | -471% |
| - in % of sales | -2.0 | -14.6 | |
| Components Division | |||
| Order intake | 206.6 | 193.5 | -6% |
| Sales | 247.6 | 200.8 | -19% |
| Total segment sales | 303.0 | 248.0 | -18% |
| Operating EBIT | 11.7 | 2.7 | -77% |
| EBIT | 11.3 | -11.9 | -205% |
| - in % of segment sales | 3.7 | -4.8 | |
| After Sales Division | |||
| Order intake | 154.7 | 163.6 | 6% |
| Sales | 186.6 | 155.2 | -17% |
| Operating EBIT | 32.9 | 15.2 | -54% |
| EBIT | 32.3 | 7.1 | -78% |
| - in % of sales | 17.3 | 4.6 | |
| Rieter Holding Ltd. | |||
| Share capital at December 31 | 23.4 | 1.4 | -94% |
| Net profit | 6.0 | 0.1 | -98% |
| Number of shares, paid-in at December 31 | 4 672 363 | 136 057 708 | |
| Average number of shares outstanding (undiluted) | 7 384 511 | 50 281 594 | |
| Share price (high/low) in CHF | 137/81 | 12/3 | |
| Market capitalization at December 31 | 383.8 | 433.0 | 13% |
| Data per share | |||
| Basic earnings per share in CHF | 1.42 | -1.26 | -189% |
| Equity (Group) in CHF1 | 90.90 | 5.75 | -94% |
| Dividend (Rieter Holding Ltd.) per share in CHF | 2.00 | 0.002 |
1) Shareholders’ equity (Group) attributable to shareholders of Rieter Holding Ltd. per share outstanding at December 31.
2) According to the proposal of the Board of Directors.
Alternative Performance Measures (APM)
The definitions of the APM used are contained in the 2025 Annual Report.
Telephone Conference for Media and Investors
The telephone conference for media and investors will take place today, February 26, 2026, at 9.00 am (CET).
Webcast
https://event.choruscall.com/mediaframe/webcast.html?webcastid=CjrJFfTQ
Dial-in details
Europe: +41 58 310 50 00
UK: +44 207 107 06 13
USA: +1 631 570 56 13
China: +86 400 120 23 19
India: +91 446 688 60 46
Forthcoming dates
- Deadline for proposals regarding the agenda of the Annual General Meeting: March 3, 2026
- Annual General Meeting 2026: April 16, 2026
- Semi-Annual Report 2026: July 17, 2026
- Investor Update 2026: October 28, 2026
- Results press conference 2027: February 24, 2027
- Deadline for proposals regarding the agenda of the Annual General Meeting: March 3, 2027
- Annual General Meeting 2027: April 15, 2027
- Semi-Annual Report 2027: July 20, 2027
- Investor Update 2027: October 27, 2027
Relindis Wieser
Head Group Marketing & Communication, Member of the Extended Group Executive Committee8406 Winterthur
Switzerland
Oliver Streuli
Chief Financial Officer8406 Winterthur
Switzerland
About Rieter
Rieter is the world’s leading system supplier for processing natural and man-made fibers into short-staple and long-staple yarn, as well as for the production of filament yarns, man-made fibers and nonwovens. With its comprehensive technology portfolio, Rieter covers the entire textile value chain – from fiber to yarn, and from polymer melt to texturized filament, synthetic staple fibers and nonwoven. Headquartered in Winterthur, Switzerland, the company designs and engineers complex spinning plants, machines, systems, and components that enable an efficient and economical production. Rieter’s leading technologies ensure minimal resource consumption, making a significant contribution to sustainability across the global textile value chain. Rieter has a history spanning more than 230 years, operates 17 production sites in nine countries, and employs around 4 220 people worldwide, approximately 15.4% of them in Switzerland. Rieter is listed on the SIX Swiss Exchange under the ticker symbol RIEN. www.rieter.com
Disclaimer
All statements in this report which do not refer to historical facts are forecasts which offer no guarantee whatsoever with respect to future performance; they embody risks and uncertainties which include – but are not confined to – future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors which are outside the company’s control. This text is a translation of the original German text.