Saurer’s Fiscal Growth For 2017 Ends On Strong Note

Company Performance

Saurer’s Fiscal Growth For 2017 Ends On Strong Note

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

Excellent growth in revenue by 37% to CNY 8713 million
Strong earnings generation with profits before tax of CNY 996 million
Outstanding performance in key markets China and Turkey with growth of 70%
Successful listing in Q3 2017 on the Shanghai Stock Exchange

Clement Woon, Chief Executive Officer, said, “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 8713 million, an excellent earnings generation with profits before tax of CNY 996 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 our strategic priorities and our successful listing at the Shanghai Stock Exchange in Q3 2017, which enabled both our newly created segments Saurer Spinning Solutions and Saurer Technologies – to contribute to last year’s profitable and high quality growth,” said Woon.

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 our outstanding businesses capabilities, the Saurer Group has been able to post the best results of the last five years. We were 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 we have made remarkable progress in further aligning our business to the needs of our customers, advancing technologically and developing our management. Backed by our industry-leading global sales and after-sales service system, we 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.

“As we continue to execute on our strategic priorities and build on our competitive advantage, I am confident that our teams have the determination and passion to deliver continuous growth and stable margins throughout the cycle and create even greater long-term value for investors and society,” Woon.