Rieter Holding AG (0QKA) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Ladies and gentlemen, also a warm welcome from my side. First, let me start by briefly giving you an overview of what happened in the first half of 2024. The cover slide is still the same like in March. It shows our air jet spinning machine J-70. We unveiled the J70 last year at the industry's largest fair, ITMA, in Milan. In June 2024, we then announced that we will install the world's first ever complete air jet spinning system with J70 technology at Guangxi Baisheng Textile Company in China. So, the future is no longer a plan, but it has become reality. This sale also reflects the strength of our product portfolio, which is designed around automation, digitization, and recycling. In the fiercely competitive markets in which we operate, this meets a key need of our customers. Customer interest at the ITM exhibition in Istanbul in June 2024 confirmed our innovation approach. RoboSpin, our automatic piecing robot, was the centerpiece of our exhibition and was sold for the first time on the Turkish market. In further confirmation of our innovation strategy, we just received a follow-up order for our winding machines from DIW, one of the biggest spinners in China. This contract follows on from a previous order in March 2024 for draw frames and combers. The cooperation is part of a broader agreement to develop state-of-the-art spinning operations and achieve unprecedented levels of quality, productivity, and efficiency. This takes me to my next point, our campus. We have just moved into our new headquarters, which is designed to further sharpen our customer centricity. Our campus is a powerful innovation hub that houses the industry's most advanced spin center. This is where we pool all our expertise so we can better cater to our customers' needs and accel...