Switzerland-based Rieter Textile Systems, a division of Rieter Holding AG, reported it received orders totaling a record 1,703.1 million Swiss francs in 2007, a 6-percent increase over 2006 orders totaling 1,614.3 million Swiss francs. Sales in 2007 totaling 1,566.8 million Swiss francs were 18-percent higher than in 2006, which saw a turnover of 1,322.2 million Swiss francs.

The 2007 operating result of 200.7 million Swiss francs before interest and taxes also set a record for the division, and the margin for the year was 13.1 percent, compared with 7.0 percent or 11.1 percent before special charges in 2006.

Rieter attributed the Textile Systems  division¹s profitability improvement in part to the divestment at the end of 2006 of the man-made-fiber machinery business, which had been losing money.

Looking ahead, Rieter cited persistent uncertainties in the financial markets as it predicted there would be a lower level of demand for textile machinery in 2008.

April 1, 2008