Demand in 3rd quarter stabilized at level of preceding quarters

Zurich, October 13, 2023 – During the first nine months of the year, driven by the ongoing clearing of the order backlog, Bystronic increased its sales by 2.1% at constant exchange rates. Due to the strong Swiss franc – especially against the US dollar – sales decreased by 4.4% to CHF 681.2 million on a reported basis. Bystronic continued to drive forward the normalization of its high order backlog, posting a backlog of CHF 347.9 million at the end of September 2023, down from CHF 413.0 million at the end of 2022.

During the first nine months of 2023, the market environment was challenging, and the customers’ investment activity was subdued. Order intake totaled CHF 624.6 million, on which currency effects had a significant negative impact. Overall, demand in the third quarter stabilized at the level of the preceding quarters. In the EMEA and APAC regions, incoming orders came in below those of the first and second quarters of 2023. The Americas region delivered a robust performance and developed positively. In China, economic uncertainties continued to curb the momentum.

Outlook

Bystronic confirms its outlook for the full year 2023. As previously communicated, order intake and sales in the machine business are expected to decline due to the economic slowdown, while the service business continues to grow. Overall, Bystronic expects a higher operating result with a slight decline in sales.

For 2024, Bystronic anticipates an unchanged market environment and an order intake in line with that of the previous quarters. In addition, the order backlog is set to decrease further by the beginning of the year. Bystronic has initiated numerous cost reduction measures. Overall, allowing for the strength of the Swiss franc, Bystronic expects declining sales and a lower operating result than in 2023.

For queries:

Investor Relations
Patrizia Meier    
Mobile +41 79 637 46 33  
patrizia.meier@bystronic.com
 

Media Relations
Michael Präger
Mobile +41 79 870 01 43
michael.praeger@bystronic.com

About Bystronic

Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry.

Bystronic’s operational headquarters are located in Niederönz (Switzerland). Additional development and production sites are located in Sulgen (Switzerland), Gotha (Germany), Cazzago San Martino and San Giuliano Milanese (Italy), Tianjin, Shanghai, and Shenzhen (China), and Hoffman Estates (USA). We are active with our own sales and service companies in more than 30 countries and are represented by agents in numerous other countries.

Disclaimer

This media release has been published in English and German. Should the English translation differ from the German original, the wording of the German version shall prevail. This media release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic’s ability to control or predict precisely, such as, in particular, future market conditions, currency fluctuations, or the behavior of other market participants, suppliers, and transport companies, as well as possible effects of the war in Ukraine and the associated sanctions. Readers are cautioned not to put undue reliance on forward-looking statements, since these relate only to the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other factors.