Bystronic AG

Bystronic improves profitability with slight decline in sales; plans cost optimization program - Seite 2

²  return on net operating assets              

Zurich, February 29, 2024 – In 2023 Bystronic continued to successfully implement its proven strategy: the Group launched new product innovations, achieved growth in its service business and realized the first Smart Factory together with a large European customer. In the USA, Bystronic expanded its offering of locally produced systems, and in China, the Competence Center for automation solutions was further expanded. In addition, Bystronic established ambitious medium-term goals as part of its sustainability strategy and committed to reduce emissions in alignment with the Science Based Targets.

According to Bystronic CEO Alex Waser, “Thanks to the tireless commitment of our employees and despite challenging market conditions, we were able to introduce new products to our customers, offer expanded service options and present new digital solutions. Even if the macroeconomic environment remains challenging in 2024, we are confident we will continue to grow in the medium term due to our attractive portfolio of products and service offerings.”

Order intake and sales
Due to economic uncertainties, our customers tended to be cautious. In the EMEA, APAC and China regions, order intake decreased. Thanks to our strong market position, the Americas region achieved an order intake at prior year level at constant exchange rates. In total, order intake amounted to CHF 794 million (-16% at constant exchange rates). Due to high order backlog, Bystronic achieved sales on par with the prior year at constant exchange rates. The strong Swiss franc reduced sales by CHF 63 million, so reported sales declined by 8% to CHF 930 million.

Operating result and net result
Bystronic increased its operating result (EBIT) by 13% to CHF 54 million. The EBIT margin thus improved to 5.8% (2022: 4.7%). These results are due to price increases, efficiency gains and saving measures related to operational costs. The impact of these measures compensated for currency losses of several million at the operating profit level. The net result amounted to CHF 42 million (2022: CHF 37 million).