EQS Group-Ad-hoc: Bucher Industries AG / Key word(s): 9 Month figures/Quarterly / Interim Statement Strong increase in demand and order book 26-Oct-2021 / 06:01 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement.

-----------------------------------------------------------------------------------------------------------------------

Ad hoc announcement Niederweningen, 26 October 2021 | Ad hoc announcement pursuant to article 53 listing rules

Demand for Bucher Industries products and services was at a very high level in the first nine months of 2021. Order intake rose by half over the prior-year period. Sales hit the record level of 2019, despite the fact that the divisions were faced with major challenges in the supply chain and logistics as well as staff shortages.

Group 


                                      January - September Change in      Full year 
CHF million                           2021     2020       %    %1)  %2)  2020 
Order intake                          2'943    1'959      50.2 50.2 48.2 2'838 
Net sales                             2'364    2'010      17.6 17.5 16.1 2'741 
Order book                            1'684    935        80.2 80.3 77.1 1'081 
Number of employees at closing date3) 13'482    12'538    7.5       6.2  12'598

1) Adjusted for currency effects 2) Adjusted for currency and acquisition effects 3) 13'485 employees (FTEs), of whom 3 on short-time work (September 2020: 12'686 employees (FTEs), of whom 148 on short-time work)

Developments in Bucher Industries' markets were extremely positive in the first nine months of 2021. Order intake rose markedly in all five divisions, largely as a result of the continuing economic recovery but also due to catch-up effects and precautionary orders. The strong momentum gave rise to bottlenecks and delays in the supply chain and logistics as well as corresponding increases in material and transport costs. The divisions were accordingly faced with challenges in production that intensified over the course of the reporting period. Recruiting qualified employees also became increasingly difficult. The divisions enlarged their workforce primarily by means of temporary workers yet were unable to increase capacities to the desired extent, particularly in the USA. Nevertheless, group sales were up significantly compared to the prior-year period.

Kuhn Group 


                                      January - September Change in       Full year 
CHF million                           2021     2020       %    %1)   %2)  2020 
Order intake                          1'247    847        47.2 49.6  48.4 1'290 
Net sales                             1'004    821        22.3 24.0  23.4 1'094 
Order book                            831      419        98.5 101.4 99.5 587 
Number of employees at closing date3) 5'738    5'118      12.1       10.6 5'194

1) Adjusted for currency effects 2) Adjusted for currency and acquisition effects 3) 5'739 employees (FTEs), of whom 1 on short-time work (September 2020: 5'124 employees (FTEs), of whom 6 on short-time work)

Significant sales growth The positive trend of recent months continued in the agricultural machinery markets. Demand for Kuhn Group products was exceptionally strong due to various government support programmes, good prices for agricultural products and a high demand for them especially from China and overall favourable weather conditions. In addition, dealers' low inventory levels prompted larger orders and early order placement. Following several difficult years, North America experienced a substantial upturn. In Europe, market conditions were at a good level in both the arable sector and in the dairy and livestock industry. And in Brazil, good harvests and high crop prices helped agricultural producers achieve record margins, which kept them extremely eager to invest. In this very dynamic environment, Kuhn Group saw order intake rise by nearly half. However, the challenges in procurement and logistics as well as the shortage of workers, particularly in North America, became more acute and had consequences for production. Sales nevertheless grew markedly year on year and even exceeded the 2019 level.

Bucher Municipal 


                                      January - September Change in      Full year 
CHF million                           2021     2020       %    %1)  %2)  2020 
Order intake                          451      343        31.7 28.5 25.1 460 
Net sales                             377      320        17.9 14.8 11.2 462 
Order book                            235      182        29.5 26.5 26.5 157 
Number of employees at closing date3) 2'381    2'305      3.3       1.8  2'327

1) Adjusted for currency effects 2) Adjusted for currency and acquisition effects 3) September 2020: 2'307 employees (FTEs), of whom 2 on short-time work

Record order intake Demand for Bucher Municipal products was very high. Order intake rose markedly, with all product groups except refuse collection vehicles contributing. Demand was particularly strong for truck-mounted sweepers, winter maintenance equipment, and the new series of 'CityCat V20' compact sweepers. The order book grew to a record level. The division's production was increasingly hampered by problems in the supply chain. Procuring chassis, hydraulic components and batteries was very difficult. The COVID-19 measures also continued to pose a challenge, particularly in Australia. Nevertheless, sales were up substantially over the hard-hit prior-year period and ended just slightly below the 2019 level.

Bucher Hydraulics 


                                      January - September Change in         Full year 
CHF million                           2021     2020       %     %1)   %2)   2020 
Order intake                          646      399        61.9  61.9  60.1  561 
Net sales                             509      403        26.1  26.0  25.0  536 
Order book                            282      105        169.4 169.3 156.8 134 
Number of employees at closing date3) 2'790    2'513      11.0        9.8   2'537

1) Adjusted for currency effects 2) Adjusted for currency and acquisition effects 3) 2'792 employees (FTEs), of whom 2 on short-time work (September 2020: 2'596 employees (FTEs), of whom 83 on short-time work)

Order intake and order book at record levels The extraordinary momentum in the hydraulics markets continued in the third quarter. Demand for Bucher Hydraulics components and solutions was extremely high in all key regions and segments. This trend was reinforced by the fact that customers were placing precautionary orders due to the general increase in delivery times. The division's order intake in the first nine months of 2021 increased by more than half year on year and is at a record level. The order book almost tripled. Adjusting production capacities to the required level was very difficult. Nevertheless, sales rose markedly over the prior-year period and were on a par with the record level of 2019. The integration of the mobile electric drive technology business, which Bucher Hydraulics acquired from Lenze Schmidhauser in Romanshorn, Switzerland, in early July, is proceeding according to plan.

Bucher Emhart Glass 


                                    January - September Change in   Full year 
CHF million                         2021     2020         %    %1)  2020 
Order intake                        392      223          76.2 72.6 317 
Net sales                           284      285          -0.2 -2.4 421 
Order book                          267      197          35.3 32.4 155 
Number of employees at closing date 1'553    1'652        -6.0      1'611

1) Adjusted for currency effects

Very high demand Demand for glass containers rose strongly again thanks to the easing of restrictions in the gastronomic sector and at major events. Customers of Bucher Emhart Glass approved projects and invested in modernising and expanding their machinery as well as in completely new plant. The division's order intake rose by well over half compared to the very low level of the previous year and almost reached the high level of 2019. There was a significant increase in orders for glass-forming machinery in particular. Sales recovered with a delay but reached the level of the prior-year period again by the end of the first nine months of the year. The division achieved this despite persistent challenges in the supply chain and logistics as well as government-imposed COVID-19 restrictions in Malaysia.

Bucher Specials 


                                      January - September Change in      Full year 
CHF million                           2021     2020       %    %1)  %2)  2020 
Order intake                          256      184        39.3 38.4 32.6 261 
Net sales                             239      219        9.4  8.6  5.6  273 
Order book                            92       47         96.6 95.1 75.7 70 
Number of employees at closing date3) 958      888        7.9       6.0  868

1) Adjusted for currency effects 2) Adjusted for currency and acquisition effects 3) September 2020: 945 employees (FTEs), of whom 57 on short-time work

(MORE TO FOLLOW) Dow Jones Newswires

October 26, 2021 00:02 ET (04:02 GMT)