Sales as expected below prior year, Bucher assumes markets to recover in 2025

As expected, demand for Bucher Industries products and services declined. The segments associated with agriculture and Bucher Emhart Glass were particularly hard hit by the downturn. Order intake fell significantly, but the slowdown stabilised from mid-year onwards. Sales were also below the prior-year level and capacity utilisation was lower. The Bucher Municipal division was able to positively distinguish itself from the general trend, recording encouraging sales growth. Bucher Industries expects an operating profit margin in the region of 9% for the reporting period and accordingly, the Group’s profit for the year is expected to be lower than the high level recorded in the prior year. For 2025, the Group assumes stable revenue on a comparable basis and an operating profit margin at the prior-year level, excluding the announced sale of a non-operational property.

Group

¹⁾ Adjusted for currency effects
²⁾ Adjusted for currency and acquisition effects

As expected, demand for Bucher Industries’ products and services declined overall compared to the strong prior-year period. An economic slowdown was particularly noticeable in Europe, while the North American and Asian markets performed better. Order intake fell in four of the five divisions, with the segments associated with agriculture and Bucher Emhart Glass being particularly hard hit by the downturn. The markets for agricultural machinery and glass containers were characterised by excessive inventories in the sales channels. While the other divisions were unable to match the prior-year sales figures, Bucher Municipal achieved encouraging growth. Capacity utilisation was lower overall. The order book was in line with the long-term average, with a reach of four months. The cost-saving measures already initiated were consistently continued and selectively expanded at the various sites. Bucher Industries’ operating profit margin is expected to be in the region of 9%. Accordingly, the Group’s profit for the year is expected to be lower than the high prior-year level. The Group expects the sale of a property not required for operations during 2025.

Kuhn Group

¹⁾ Adjusted for currency effects

Low willingness to investLower farm incomes due to lower prices for agricultural products, higher interest rates and production costs, and fewer subsidies made farmers less willing to invest. Many dealers of agricultural machinery were suffering from high inventories and therefore hesitant to place pre-orders, resulting in a significant decline in the demand for agricultural machinery. Kuhn Group’s order intake declined and sales fell compared with the prior year. The operating profit margin is expected to be significantly lower than in the previous year.

Bucher Municipal

¹⁾ Adjusted for currency effects
²⁾ Adjusted for currency and acquisition effects

Demand continues to be goodBucher Municipal continued to experience high demand in an overall stable market situation. Order intake exceeded the high level of the prior year and was strong in most markets, particularly towards the end of the reporting period. The truck-mounted sweeper and winter maintenance equipment segments developed positively, as did the maintenance services and spare parts business. Orders for compact sweepers declined, as expected. Sales were higher than in the previous year. The operating profit margin is likely to increase compared with the prior-year’s figure.

Bucher Hydraulics

¹⁾ Adjusted for currency effects

Weak agricultural machinery segmentDemand in the hydraulics markets weakened overall during the reporting period, and Bucher Hydraulics’ order intake fell compared with the prior year. The weak cycle in the agricultural machinery segment and the decline in the construction machinery and electrical converter segments were particularly important influencing factors. Development in the materials handling segment was more stable, while demand for stationary industrial hydraulics picked up again. The division’s sales declined. The operating profit margin is expected to decline compared with the prior year.

Bucher Emhart Glass

¹⁾ Adjusted for currency effects

Weaker demand than the very strong prior yearDemand for glass forming and inspection machinery weakened in the reporting period and was significantly below the very high level of the prior year. Order intake at Bucher Emhart Glass declined. Capacity utilisation was good thanks to the high order book. Uncertainties regarding market developments at specific customers led to project delays, which had a negative impact on sales and led to a decline. The operating profit margin is expected to be somewhat lower than in the prior year.

Bucher Specials

¹⁾ Adjusted for currency effects
²⁾ Adjusted for currency and acquisition effects

Disappointing business developmentBucher Specials’ markets presented a mixed picture in the reporting period. Demand at Bucher Vaslin and Bucher Automation remained below the prior-year level, while business remained strong at Bucher Unipektin. Bucher Landtechnik reported a noticeable stabilisation at a low level. The division’s order intake and sales were down on the prior-year period. The operating profit margin is expected to be significantly lower than in the prior year.

Group outlook 2025

Bucher Industries expects demand to continue to be impacted by the volatile environment at the beginning of the year and assumes some markets to recover from mid-year onwards. The Group therefore expects stable sales for 2025 on a comparable basis. The Group expects the sale of a property not required for operations during 2025. The sale is expected to increase the operating profit margin by around 1.4 percentage points. Excluding this divestment, Bucher Industries expects an operating profit margin for 2025 at the prior-year level.

Bucher Industries will publish its annual report on Friday, 28 February 2025 and present the detailed business results at the annual press and analysts' conference.