Bucher Industries Full-Year Report 2023

Over the course of the reporting period, demand for Bucher Industries’ products and services declined in line with the general economic slowdown, and order intake normalized. Sales remained on par with the prior-year level, with capacity utilization lower in the second half of the year. The operating profit margin reached a very good 11.9%. The profit for the year was CHF 356 million, once again above the high figure of the previous year. Earnings per share were CHF 34.38, exceeding the prior year. The board of directors proposes a dividend of CHF 13.50 per share.

Pleasing return on assets

The return on net operating assets (RONOA) after tax was a high 24.7%, above the long-term target of 20% and thus also well above the cost of capital of 8%. The pleasing return is attributable to the good sales level and the resulting operating profit. Average net operating assets increased significantly year on year, due mainly to higher inventories in response to supply chain challenges, significantly lower advances from customers, and higher investments.

Decline in demand after a prolonged strong cycle

After two very strong financial years, demand for agricultural machinery weakened during the reporting period. Lower prices for agricultural commodities, a decline in income due to unfavorable weather conditions and high interest rates made farmers less willing to invest.

Diverging market developments

Bucher Specials’ markets were subject to varying developments during the reporting period. Demand at Bucher Vaslin developed negatively, while business at Bucher Unipektin remained stable. Bucher Landtechnik reported weakening business performance. Bucher Automation benefited from a positive market development. Order intake was up 2% on the high level recorded in the previous year.

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