Bucher Emhart Glass's order intake dropped by nearly half in the first nine months of 2024 compared to the year before.
The Swiss-headquartered glass forming and inspection machinery developer said weak market demand in Europe and North America was to blame.
Its order intake for the January to September period this year was CHF 267 million ($308.2 million) compared to CHF 453 million ($523 million) for the same period in 2023, a drop of 41%.
In its financial report for the first nine months of the year, it stated the decline had been expected and that the slowdown had stabilised from mid-year onwards.
It said the full stocks of glass containers prompted some manufacturers to shut down glass melting furnaces, which had a negative impact on the spare parts business.
The downturn hit Europe and North America in particular, also due to the higher energy prices, while some smaller emerging markets continued to record growth.
Capacity utilisation was good thanks to a high order book. Uncertainties regarding market developments led specific customers to project delays, which had a negative impact on sales. No cancellations were recorded.
The order book was reduced but still had a reach of five months.
Net sales for the period were CHF 354 million compared to CHF 385 million the year before, a drop of 8.1%.
