Container glass forming group Bucher Emhart Glass has reported weakening market demand.
In its financial note for the financial year 2023, it said while demand for glass forming machinery and inspection machinery remained strong, its order intake had fallen as a result of weakening market momentum.
It emphasised though that demand in previous recent quarters had been at a very high level.
Order intake was down by 10.1% in 2023 compared to 2022 to CHF520 million ($602 million) from CHF578 million ($669.7 million) the year previously.
It said: “Towards the end of 2023, however, a slowdown became apparent. Bucher Emhart Glass's order intake fell but was still at a very high level.”
It said the trend towards AIS glass container forming machines continued, with many new orders received for this type of machine.
Energy-efficiency considerations and a shortage of skilled labour also encouraged plant operators to equip their glass container forming plant with technologies from Bucher Emhart Glass.
Capacity utilisation continued to be strong, and sales were maintained at the same high level as in the previous year.
The operating profit margin is expected to slightly exceed the high level reached in 2022.
