Rieter Holding Ltd.

Latest Results (26.07.2026):

Rieter Holding Ltd. — Q4 2025 / full-year 2025 (reported FY 2025) summary: Rieter closed FY 2025 with sales of CHF 685.1 million (‑20% y/y) and order intake of CHF 703.4 million (‑3% y/y). Operating EBIT before restructuring and transaction costs was positive but small at CHF 2.5 million; the Group reported a net loss of CHF 63.4 million after CHF 54.2 million of extraordinary restructuring and transaction costs related to the planned Barmag acquisition. Free cash flow was negative (CHF ‑40.6 million), but net liquidity improved to CHF 184.3 million following a capital increase; the Board proposes no dividend for 2025. Rieter confirms at least CHF 20 million in preliminary synergies from the Barmag deal and gives a 2026 transition-year outlook (sales CHF 1.3–1.5 billion; operating EBIT margin 0–3%).

Top-line and orders

FY 2025 sales: CHF 685.1m (‑20% vs 2024 CHF 859.1m). Order intake: CHF 703.4m (‑3% vs 2024 CHF 725.5m). Order backlog at year‑end ~CHF 510m. Division performance: Machines & Systems sales CHF 329.1m, Components CHF 200.8m, After Sales CHF 155.2m.

Profitability

Operating EBIT (before special items): CHF 2.5m (margin ~0.4%). EBITDA reported CHF 13.1m. After CHF 54.2m of restructuring/transaction costs tied to the Barmag acquisition, Rieter recorded a net loss of CHF 63.4m for FY 2025.

Cash, balance sheet and dividend

Free cash flow: CHF ‑40.6m (2024: CHF 14.1m). Net liquidity improved to CHF 184.3m (2024: net debt CHF ‑230.3m) largely due to the October 2025 capital increase to finance Barmag. Equity ratio rose to 53.3% (from 33.7%). The Board proposes no dividend for 2025 (CHF 0.00 per share).

Acquisition, strategy and synergies

Rieter completed the acquisition of Barmag on 2 Feb 2026 (reported in the FY 2025 narrative). Management expects at least CHF 20m of preliminary synergies and is pursuing a soft integration. The deal expands Rieter into man‑made fiber and filament markets, broadening end markets and reducing cyclicality.

Outlook & medium‑term targets

2026 outlook (transition year): sales CHF 1.3–1.5bn and operating EBIT margin 0–3%. Medium‑term scenario targets after synergies: Low ~CHF 1.4bn (EBIT 2–5%), Medium ~CHF 1.8bn (EBIT 5–8%), High ~CHF 2.2bn (EBIT 8–11%).

Operational & other metrics

Headcount (ex temporaries) fell to 4,220 (‑12%). Capital expenditure in 2025 was CHF 15.2m (‑41% y/y). Management cites delayed market recovery due to trade tensions and geopolitical uncertainty, while After Sales saw a 6% increase in order intake, supporting service-led resilience.