Challenging market environment in 1st quarter 2024 - Seite 2

 

Order backlog

279.4

396.6

(29.6)

(27.8)

 

¹ at constant exchange rates

Zurich, April 15, 2024 – The market environment in the first quarter of 2024 continued to be challenging. Demand was weak due to economic uncertainties, and some customers are no longer operating at full capacity. As a result, the order intake of CHF 159 million was below first quarter 2023 (CHF 218 million) and slightly under the level of new orders in the fourth quarter of 2023 (CHF 169 million). In comparison to the fourth quarter 2023, the regions EMEA, APAC and China experienced lower order intake. The region Americas continued to develop positively, with a slightly increased level of orders compared to the previous quarter.

Sales declined by 36.3% (-31.5% at constant exchange rates) over the previous year to CHF 148 million. Currency effects accounted for CHF 11 million of the reduction. In addition, the order backlog is at a lower level than the prior year, and some automation solutions installations have been delayed. 

The previously announced cost optimization program is on track. Measures are primarily focused on reducing structural costs, increasing efficiency and streamlining the organizational structure to be well-positioned for the next economic upturn.

As such, Bystronic has made initial adjustments to its regional organizational structure. In the APAC region, the dynamics of individual markets are very different, so in the future, the country organizations will report directly to members of the Extended Executive Committee. By simplifying responsibilities, Bystronic can meet local market needs even better. The Group will report on the progress of the cost optimization program in more detail as part of its half-year reporting.