Bucher Industries Lowers 2026 Sales and Margin Forecast on Farm, Glass Division Weakness

Swiss machinery manufacturer Bucher Industries has lowered its full-year guidance, now expecting 2026 sales to be slightly lower and its operating margin to fall below the previous year's level. The forecast reflects significant challenges in its agricultural and glass machinery divisions, which are outweighing a strong performance in hydraulics.

The company's guidance for its operating margin notably excludes a CHF 43 million profit from a property sale in 2025. For the first nine months of the year, group sales fell 2.8% to CHF 2.10 billion, while order intake declined 1.4% to CHF 2.03 billion, according to its latest report.

Divisional Performance Highlights Divergence

The weaker outlook is primarily driven by downturns in two key segments. The Kuhn Group, Bucher’s agricultural equipment division, saw nine-month orders fall 7.2% to CHF 720 million. The company attributed the slump to extreme drought in Europe, which reduced crop yields, and higher operating costs for farmers, alongside a downturn in Brazil.

Bucher's Emhart Glass division, which makes glass-container machinery, experienced an even sharper decline. Nine-month sales plunged 20.9% to CHF 206 million, a result of low order intake from previous periods and a lack of new major projects. The division has initiated cost-saving measures in response to very low capacity utilization at its production sites and now expects significantly lower full-year sales and margins.

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Hydraulics Unit a Bright Spot

In contrast to the broader weakness, the Bucher Hydraulics division reported a robust performance. Key figures for the first nine months include:

• Order Intake: Rose 5.8% to CHF 502 million, driven by demand for construction machinery and mobile electric drive technology.
• Sales: Increased to CHF 497 million from CHF 475 million in the prior-year period.

The division now anticipates slightly higher sales and a slightly improved operating margin for the full year. Meanwhile, the company's other units, Bucher Municipal and Bucher Specials, are both expected to report lower operating margins for 2026.