News >> Saurer announces strong 2017 annual growth

Saurer announces strong 2017 annual growth

The Board of Directors of Saurer Intelligent Technology Co Ltd. has announced that Saurer has delivered strong results for the full year ended December 31, 2017, with double digit growth across key metrics.

Mr. Clement Woon, Chief Executive Officer, says:“2017 was a year of substantial growth for Saurer as the group continued to benefit from strong demand for all textile solutions and components.

With growth in sales revenue by 37% to CNY 8’713 million, an excellent earnings generation with profits before tax of CNY 996

Mr. Clement Woon, Chief Executive Officer

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 the strategic priorities and successful listing at the Shanghai Stock Exchange in Q3 2017, which enabled both the newly created segments – Saurer Spinning Solutions and Saurer Technologies – to contribute to last year’s profitable and high quality growth.

In its rich 165-year history, time and again, Saurer has proven that it is able to drive innovation and perform very successfully in changing market conditions. By taking advantage of favourable economic circumstances and outstanding businesses capabilities, the Saurer Group has been able to post the best results of the last five years. It was 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.

2017 was a year of profound change for the company, and the company made remarkable progress in further aligning its business to the needs of customers, advancing technologically and developing management. Backed by the industry-leading global sales and after-sales service system, the company 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 very favourable position to profit from unprecedented economic opportunities across these markets, including in China with its vision of the textile industry as well as the ‘One Belt, One Road’, ‘Industry 4.0’ and ‘Made in China’ initiatives.

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.

Source – Textile Magazine - May 2, 2018