Bucher Industries sees lower 2026 sales, margins as glass, farm units slump

Swiss machinery maker Bucher Industries expects 2026 sales to be slightly lower and its operating margin to fall below last year’s level, as drought-hit farm equipment and a slump at its glass-container machinery unit offset growth in hydraulics.

The margin guidance excludes a CHF 43 million profit from the sale of a property in 2025.

Nine-month sales fell 2.8% to CHF 2.10 billion from CHF 2.16 billion a year earlier, or 1.3% on a comparable basis adjusted for currency and acquisitions.

Orders declined 1.4% to CHF 2.03 billion from CHF 2.06 billion, but rose 0.2% on the same adjusted basis.

Kuhn Group, Bucher’s farm equipment division, reported nine-month orders of CHF 720 million, down 7.2% from CHF 776 million a year earlier, or 5.1% adjusted for currency. Extreme drought in Europe reduced crop and forage yields, while higher fertiliser and diesel prices increased farmers’ operating costs. Sales fell 1.8% to CHF 802 million from CHF 816 million. 

A downturn in Brazil left local production sites operating well below capacity. Third-quarter orders were supported by earlier pre-order programmes in the United States, which brought forward some demand.

Kuhn expects stable comparable sales and a somewhat lower operating profit margin.

Bucher Emhart Glass reported sales of CHF 206 million, down 20.9% from CHF 261 million a year earlier, due to low order intake in previous periods and a lack of new major projects. Orders were CHF 216 million, compared with CHF 218 million a year earlier. 

Very low capacity utilisation at production sites prompted cost-saving measures. The division expects significantly lower sales and a significantly lower operating margin than in 2025.

Bucher Hydraulics orders rose 5.8% to CHF 502 million from CHF 474 million a year earlier, or 8.6% adjusted for currency, driven by rising demand for construction machinery and mobile electric drive technology.

Sales increased to CHF 497 million from CHF 475 million. The division expects slightly higher sales and a slightly higher operating margin.

Bucher Municipal expects slightly lower sales, while Bucher Specials expects slightly higher sales. Both divisions expect lower operating margins.