Swiss sheet-metal processing company, Bystronic, has announced a decrease in sales for the first nine months of the year and anticipates a lower operating result in 2024. Despite sales growing by 2.1% at constant exchange rates, the company reported a 4.4% decline to 681.2 million Swiss francs ($750 million) during this period. Bystronic attributed this decline to a challenging market environment and subdued investment activity from customers.
Order intake was also affected, totaling CHF624.6 million due to currency effects. Bystronic noted that third-quarter orders in Europe, the Middle East and Africa, as well as in the Asia-Pacific region, were below the levels registered in the first and second quarters. However, the Americas reported a robust performance, while China suffered from economic uncertainties.
In spite of these challenges, Bystronic remains optimistic about the full year, expecting a higher operating result with a slight decline in sales. The company is implementing cost-saving measures to mitigate the impact of the sales decline.
Looking ahead to 2024, Bystronic anticipates further declining sales and a lower operating result compared to 2023. However, the order intake is expected to be in line with previous quarters.