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Bystronic AG / Key word(s): Restructure of Company
Bystronic announces a restructuring plan and moves closer to its customers through new organizational structure
11-Sep-2024 / 06:30 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
- Bystronic introduces a divisional organizational structure
- The restructuring bundles competencies and reduces fixed costs
- Bystronic ensures profitability over the entire economic cycle
Zurich, September 11, 2024 – Bystronic is optimizing its organizational structure to position itself closer to its customers while also reducing its fixed cost basis. As such, Bystronic is eliminating its regional structure and introducing a divisional structure. This will lead to a reduction in the size of Bystronic’s Executive Board to four members, effective October 1, 2024. In addition to the already established service division, Bystronic will bundle its competencies in the machinery business, automation and software to serve customers even better from a single source and to strengthen its positioning as a full solutions provider.
Additionally, Bystronic is launching further comprehensive restructuring measures. To optimize synergies, group functions will be merged and the global footprint consolidated, among other measures. Bystronic remains committed to its Niederönz (Switzerland) location, which produces very efficiently thanks to its optimized production depth.
Domenico Iacovelli, CEO of Bystronic, commented: “Although cost reduction measures have already been launched, a comprehensive restructuring is unavoidable due to market dynamics. Our new organizational structure positions us closer to our customers and allows us to respond with more agility to market needs.”
In total, the structural changes will lead to annualized savings in the mid double-digit million range. As such, Bystronic will ensure its profitability over the entire economic cycle. The Group expects one-time costs in the low double-digit million range.
Media release (PDF)
About Bystronic
Bystronic (SIX: BYS) is a leading global technology company in the field of sheet metal processing. The focus is on the automation of the complete material and data flow of the cutting and bending process chain. The intelligent networking of laser cutting systems and press brakes based on innovative automation, software, and service solutions is key to achieving the comprehensive digitalization of the sheet metal processing industry.
Disclaimer
This media release has been published in English and German. Should the English translation differ from the German original, the wording of the German version shall prevail. This media release contains forward-looking statements, which are subject to uncertainty and risks. Actual future results may differ materially from those expressed in or implied by these statements. Some of these uncertainties and risks relate to factors that are beyond Bystronic’s ability to control or predict, such as future market conditions, currency fluctuations, or the behavior of other market participants, suppliers, and transport companies, as well as possible effects of the war in Ukraine and the associated sanctions. Readers are cautioned not to put undue reliance on forward-looking statements, since these relate only to the date of this communication. Bystronic disclaims any intention or obligation to update or revise any forwardlooking statements, whether as a result of new information, future events, or any other factors.
End of Inside Information
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