Niederweningen, 24 October 2008

In the first nine months of 2008, Bucher Industries grew sales by 18% to CHF 2 119 million. Order intake rose by 14% to CHF 2 175 million, and the order book reached CHF 908 million, up 21% on the same period last year.

Bucher Industries generated sales of CHF 2 118.5 million for the first nine months, an increase of 18.3% or currency-adjusted 22.9%. Organic growth, excluding acquisitions and currency effects, was 19.5%. All the divisions contributed to this successful result, with Kuhn Group, Bucher Process and Bucher Hydraulics posting especially high growth rates. Order intake reached CHF 2 174.8 million, up 13.6% on the same period last year or 18.1% excluding currency movements. The order book expanded by 21.1% to CHF 908.0 million, ensuring that capacity utilisation will remain good.

Boosted by the good performance, the Group's strong balance sheet and very solid financial position continued to improve. As a result, the low net debt was reduced by CHF 93.3 million to CHF 51.3 million after mid-year. Advances received from Kuhn Group customers contributed to this, in particular.

Demand for specialised agricultural machinery remained high in Western and Eastern Europe and in North and South America. Kuhn Group's sales grew by 23.2% year on year to CHF 833.2 million, a currency-adjusted increase of 28.6%. Order intake was even up 24.6% or currency-adjusted 30.2% on the high year-ago figure, rising to CHF 893.8 million. The order book grew by 46.5% to CHF 377.7 million.

Demand for municipal vehicles and winter maintenance equipment remained stable at a high level during the first nine months of the year. Bucher Municipal posted sales of CHF 424.2 million, up 7.6% or currency-adjusted 13.6% year on year. Order intake reached CHF 433.8 million, decreasing only slightly by CHF 1.1 million from the high year-ago figure, but increasing by 5.6% excluding currency effects. The order book grew by 3.6% or currency-adjusted 9.9% to CHF 178.5 million.

Business with wine making and fruit juice processing equipment continued to flourish. The division's sales grew by 21.1% or currency-adjusted 23.1%. At CHF 133.4 million, order intake was 3.1% below the exceptionally high year-ago level that was impacted by a large order for fruit juice equipment from China. The smooth handling of this major order and the resulting customer satisfaction led to a follow-up order worth CHF 8.7 million in the third quarter of 2008.

The division continued to grow at a high pace, increasing sales of custom hydraulic system solutions by 35.6% to CHF 390.4 million. This was an upturn of 40.2% adjusted for currency translation or 19.1% adjusted for currencies and acquisitions. Brisk demand in the agricultural machinery, power engineering and materials handling segments contributed to the good performance. Even in the construction equipment segment, which has declined sharply since mid-year, Bucher Hydraulics managed to maintain the high year-ago level. Order intake rose by 29.5% to CHF 390.0 million, up 14.6% adjusted for currency effects and acquisitions. The order book totalled CHF 108.4 million, a year-on-year growth of 39.9%.

The glass container industry was operating at full capacity, which spurred capital spending. The division gained more market share and generated sales of CHF 308.4 million. This was another increase of 3.4% or currency-adjusted 5.2% over the record level in the same period last year. All regions contributed to the solid performance. At CHF 323.8 million, order intake was practically level with the very high year-ago figure. The order book grew by 3.8% to CHF 209.1 million, ensuring that the division's good capacity utilisation will continue.

For the remaining months of the 2008 financial year, Bucher Industries anticipates a slight overall slowdown in the high growth rate, due also to the base effect of the very strong fourth quarter of 2007. For the full year 2008, we still expect to report a marked increase in sales and operating profit, with higher profit for the year. The very solid financial position should continue to improve, in particular driven by the seasonality of Kuhn Group's agricultural machinery business. The Group consequently expects to end the year with a net cash position.

Forecasts for the year ahead are subject to considerable uncertainty due to the financial crisis. Like others, Bucher Industries will not be able to escape the generally expected economic downturn altogether. The predicted recession is likely to begin to show, primarily in Bucher Municipal and Emhart Glass with the deferral of projects, and with a cyclical decline in demand in some market segments of Bucher Hydraulics. However, given the Group's diversification in different markets, the divisions' strong market positions and its high level of financial independence, Bucher Industries is well equipped for the future. With the strong order book, we believe that 2009 sales will be about the same as expected for 2008, with slightly lower profitability.

Contact
Philip Mosimann, CEO
Roger Baillod, CFO

Bucher Industries AG
Phone +41 43 815 80 88
Fax +41 43 815 80 81

Last year, Bucher Industries celebrated its 200th anniversary commemorating its successful evolution from a blacksmith's shop to a global technology group with leading market positions in speciality areas of mechanical and vehicle engineering. The company's operations currently include specialised agricultural machinery, municipal vehicles, wine and fruit juice production equipment, hydraulic components, and manufacturing equipment for the glass container industry. Bucher Industries' shares are traded on the SWX Swiss Exchange (SWX: BUCN).