ZURICH - Bystronic AG, a Swiss manufacturer of laser cutting systems, press brakes, and associated automation and software solutions, reported a significant decline in order intake and net sales for the first nine months of 2024. The company's order intake dropped to CHF 466.7 million, a 25.3% decrease compared to the same period last year, or a 22.9% decrease at constant exchange rates. Net sales fell by 28.3% to CHF 488.4 million, or 25.9% at constant exchange rates.
Despite a minor improvement in the third quarter of 2024, with a slight uptick in the Asia-Pacific and China regions, the overall market dynamics continued to be weak, impacting the company's performance across all regions. Bystronic's order backlog also diminished by 32.4% to CHF 235.2 million.
In response to the ongoing market challenges, Bystronic is implementing further restructuring measures. These include a reduction of the executive board to four members and the introduction of a divisional organizational structure aimed at consolidating group functions and locations. As a result, the company plans to eliminate approximately 500 positions globally, including around 80 employees at its Niederönz location in Switzerland.
Additionally, Bystronic will shut down its former production site for automation solutions in Italy, with future production of automation products being focused in China and Switzerland.
This strategic reorganization is part of Bystronic's efforts to streamline operations and improve efficiency in the face of a challenging market environment. The information reported is based on a press release statement from Bystronic AG.
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