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23rd April 2018, Shanghai/Wattwil

Saurer announces strong growth

The Board of Directors of Saurer Intelligent Technology Co Ltd. has announced that Saurer has delivered strong results for the full year ended 31 December 2017. © SaurerSaurer has delivered strong results for the full year ended 31 December 2017, with double digit growth across key metrics. The company achieved sales revenue increase of 37% to CNY 8,713 million, outstanding performance in key markets China and Turkey with growth of 70%, and strong earnings, with profits before tax of CNY 996 million.

“2017 was a year of substantial growth for Saurer as the Group continued to benefit from strong demand for all textile solutions and components,” said Clement Woon, CEO. “With growth in sales revenue up, an excellent earnings generation with profits before tax of CNY 996 million and a profit margin of 11.4%, Saurer has successfully strengthened its position as the globally leading integrated textile equipment supplier, offering a suite of solutions from bale to yarn.”

“The strong performance is a result of the disciplined execution of our strategic priorities and our successful listing at the Shanghai Stock Exchange in the third quarter 2017, which enabled both our newly created segments – Saurer Spinning Solutions and Saurer Technologies – to contribute to last year’s profitable and high-quality growth.”

Year of profound change

By taking advantage of favourable economic circumstances and its businesses capabilities, the Saurer Group says it has been able to post the best results of the last five years. “We were particularly successful in China and Turkey, with growth rates of 70% in both countries. In addition, within three years, Uzbekistan has become the fourth-largest market for Saurer, posting over CNY 500 million in sales,” explained Mr Woon.

“Last year was a year of profound change for the company, and we have made remarkable progress in further aligning our business to the needs of our customers, advancing technologically and developing our management. Backed by our industry-leading global sales and after-sales service system, we will continue to leverage the advantage of operating in some of the most dynamic and attractive markets in the world.”

As a listed subsidiary of the Jinsheng Group, Saurer is in a favourable position to profit from unprecedented economic opportunities across these markets, including in China with its vision of the textiles industry, as well as the One Belt, One Road, Industry 4.0 and Made in China initiatives.

Revenue by segment

Saurer has organised its operating units according to its strategic goals. The Saurer Spinning Solutions and Saurer Technologies business segments both aim to better serve customers’ needs, to enhance operational efficiency and to integrate and anticipate technological innovations. Saurer Spinning Solutions provides customers with services along the entire bale-to-yarn production process. Saurer Technologies concentrates on ennobling solutions, on line monitoring and sensor technology, as well as components contributing to various stages within the textile manufacturing process.

China and Turkey experienced the highest growth rates in 2017, +71% and +70% YoY respectively. Within three years, Uzbekistan has become the fourth-largest market for Saurer, posting over CNY 500 million in sales revenue. In July 2017, India introduced a new sales tax regime (GST), which has impacted the investment and sales environment.

www.saurer.com

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