Niederweningen, 17 March 2005

Bucher Industries reported positive results on the business year 2004. Sales increased by 7% to CHF 1 641 million, while incoming orders of CHF 1 793 million exceeded last year by 21%. As a result of a higher business volume and consistent cost management, the group achieved an operating result of CHF 91 million, representing an increase of 55% although the margins remained under pressure. Net result rose by 47% to CHF 54 million.

Demand recovering
In the year under review, the economy in most fields of activity of Bucher Industries recovered and, combined with internal efforts, resulted in good capacity utilization rates. Production costs rose due to massive scale-ups in raw material and energy prices. Continued competitive pressure and the weak U.S. dollar relative to the Euro and the Swiss franc further impacted the margins.

Distinct increase in sales and earnings
Bucher Industries' sales rose by 6.9% in 2004 (6.4% adjusted for currency effects, and 8.3% adjusted for currency, acquisition and divestiture effects) to CHF 1 640.9 million. In addition, incoming orders of CHF 1 793.2 million represented an increase of 20.7% over the previous year. Adjusted for acquisition, divestiture and currency effects, incoming orders went up by 21.6%. Except for Bucher Process, all divisions contributed to higher sales. As of year-end 2004, the group's order book reached CHF 480.3 million, surpassing the prior year level by 46.3%. The operating result of Bucher Industries rose by 54.8% to CHF 91.2 million, while net result, including the effect of the financial result of CHF -9.5 million (previous year: CHF -3.4 million) and tax expenditures of CHF 27.3 million (previous year: CHF 18.7 million), the considerably higher operating free cash flow of CHF 119.6 million (previous year: CHF 53.7 million) resulted in a net cash position of CHF 91.8 million (previous year: net debt of CHF 29.2 million). The equity ratio was 35% compared to 34% a year ago. As of year-end 2004, Bucher Industries had 5 782 employees (previous year: 5 852). Sales per employee rose by 9.9% from CHF 257 700 to CHF 283 200.

Strengthening the Bucher brand
In the course of reviewing the branding strategy of Bucher Industries, the "Bucher" corporate logo underwent a slight revision and will be more visible in the future. At the same time, the Bucher Automotive division was renamed Bucher Municipal and Bucher Foodtech is now Bucher Process.

Kuhn Group expanding to Latin America
Sales of Kuhn Group increased by 8.4% over the previous year to CHF 712.2 million. While the market for agricultural machinery stagnated in Europe, the primary sales region of Kuhn Group, demand in the USA and Canada was very positive. The operating result improved by 18.1% to CHF 58.8 million, although steel prices increased significantly and the U.S. dollar remained weak in relation to the Euro. This achievement is attributable to strict cost management and the higher than expected increase in volume. In February of this year, Kuhn Group took over Companhia Agricolas MTS in Passo Fundo, Brazil. The company was renamed Kuhn Metasa and will strengthen the presence of Kuhn Group in the growing Latin American markets. For 2005, Kuhn Group anticipates both sales and the operating result to increase due to the integration of Kuhn Metasa.

Bucher Municipal with improved sales and earning power
During the reporting period, Bucher Municipal's sales were up 17.2% to (CHF 283.6 million). The operating result of CHF 6.1 million was CHF 5.0 million higher than last year. Success in several large-scale public tenders for compact and truck mounted sweepers, winter servicing and airfield cleaning equipment, and the strong sales organization were the primary factors contributing to the positive growth rate.On 18 February 2005, Bucher Industries announced plans to take over the European and Australian business of Johnston Sweepers Ltd., Dorking, U.K. While Bucher Municipal and Johnston are both active in the field of municipal vehicles, Johnston operates largely in complementary geographic markets. Approval of the take-over from the respective antitrust authorities are pending. For the year 2005, Bucher Municipal expects to see fewer large tenders, and otherwise stable demand in Europe. As a result of the integration of the Johnston operations, the business volume of Bucher Municipal will grow considerably. The goal of the division is to improve its operating result.

Successful turnaround of Bucher Process
The turnaround of Bucher Process was successful, although the market conditions for wine production plants remained challenging. Sales decreased by 1.7% to CHF 132.7 million, while the operating result increased by CHF 8.5 million to CHF 5.4 million. Demand for wine production plants declined worldwide with considerable regional variations. The market for fruit juice equipment, on the other hand, stabilized at a high level. Developments in China and Poland were especially positive. Bucher Process expects sales in 2005 to remain at the level of 2004 and intends to improve the operating result due to measures already initiated.

Bucher Hydraulics reports significant increase in operating result
As a result of the economic upswing in the markets, enhancements in the product range and the start-up of series production of new, customer-specific products in tractor hydraulics, the division was able to increase sales by 15.1% to CHF 243.7 million. The operating result more than doubled to CHF 20.9 million. The positive results for the year under review were supported primarily by the important markets for agricultural and construction machinery and materials handling. For 2005, Bucher Hydraulics expects sales to increase slightly and the operating result to remain at the level of 2004.

Emhart Glass with record order volume
Emhart Glass achieved a record in incoming orders of CHF 362.0 million, surpassing the prior year figures 49.1%. Sales rose by 1.6% to CHF 268.1 million. At CHF 18.4 million, the operating result was 11.5% higher than last year. Demand in the container glass industry worldwide was encouraging, and in Europe, several large orders were obtained, primarily for machines incorporating the latest technology. During the reporting year, Emhart Glass validated its process principle for the production of thin-walled, thermally strengthened glass containers in the live operations of a European manufacturer of container glass. For 2005, Emhart Glass projects an increase in sales and strives to further improve the operating result.

Outlook 2005
For the current year, Bucher Industries expects a similar overall economic environment as in 2004. Forecasts are made difficult due to currency-related uncertainties, especially with respect to the U.S. Dollar in relation to the Euro and the Swiss franc, and the announcement of further price increases for raw materials. Capacity utilization rates during the first months of 2005 were good as a result of the high order book of CHF 480.3 million. Adjusted for the acquisitions of Kuhn Metasa and Johnston, the group anticipates sales in 2005 to remain at the level of 2004 and both the operating and the net result to improve. The acquisitions are expected to increase sales significantly while the operating result will be positively influenced.

Dividend and standard registered share
Based on the net result, the board of directors will propose a higher dividend of CHF 7.- per bearer share and CHF 1.40 per registered share at the annual general meeting of 26 April 2005. The proposed dividend represents a distribution rate of 27.5%.

The annual general meeting takes place at Mövenpick Hotel in Regensdorf dated 26 April 2005 at 4.00 pm. Already in February, the board of directors announced that it would propose the introduction of a standard registered share at the upcoming annual general meeting as well as the required amendments to the articles of association of Bucher Industries. Furthermore, the board of directors will recommend reelection of board members Thomas W. Hauser and Erwin Stoller for another 3-year period. It will also recommend to elect Ernst Bärtschi to the board.

Effective today, the annual report of Bucher Industries is available in the Internet at ww.bucherind.com and as an advance copy for those attending the financial press and financial analyst conference. The annual report will be available in print on 29 March 2005 together with the invitation to the annual general meeting.

Bucher Industries is a technology group operating worldwide with leading market positions in specialty fields of machine and vehicle construction. The company's areas of activity include specialized agricultural machinery, municipal vehicles, wine and fruit juice production plants, hydraulic components, and production equipment for the container glass industry. Bucher Industries' shares are traded at the SWX Swiss Exchange
(SWX: BUC).

Contact
Philip Mosimann, CEO
Roger Baillod, CFO
Phone +41 44 857 22 07