Bucher Industries, a Swiss industrial-machinery company, announced an uptick in sales for the first nine months of the year. However, the company also noted a deceleration in the demand for agricultural machinery.
Sales Growth and Figures
According to Bucher Industries' latest report on Thursday, the company achieved sales of 2.73 billion Swiss francs ($3.04 billion) during the nine-month period, representing a 4.1% increase compared to the previous year. On a like-for-like and constant-currency basis, sales demonstrated even stronger growth at 8.3%.
Order Intake Decline
In contrast to the positive sales performance, Bucher's order intake experienced a decline of 17%, amounting to CHF2.44 billion. The company attributed this decrease to a normalization of order trends after reaching a peak last year.
Bucher's third-quarter sales fell slightly below expectations, as highlighted by Michael Roost, an analyst from Baader Helvea Equity Research. Roost revealed that sales figures were lower than both consensus estimates and Baader Helvea's predictions.
Full-Year Guidance and Outlook
Despite the third-quarter setback, Bucher Industries maintained its forecast of comparable sales and slightly improved profitability for the full year. The company expects demand to continue to normalize in the fourth quarter.