July 24, 2020 / 4:28 AM / 15 days ago

Sulzer H1 orders rise, sees full recovery in 2021 after pandemic

July 24 (Reuters) - Swiss industrial group Sulzer expects to return to pre-pandemic profitability in 2021 as it reported first-half order growth on Friday, citing strong performance at its pump and rotating equipment businesses.

Sulzer's orders including acquisitions rose 1.7% in the first half of 2020, above analysts' expectations that had pointed to a loss, as strong energy-related orders in China, Brazil and the Middle East more than offset low demand in the United States.

The company added it expects its structural cost-cutting programme to generate savings of 70 million Swiss francs ($75.73 million) including 50 million Swiss francs in 2021.

$1 = 0.9243 Swiss francs Reporting by Zuzanna Szymanska in Gdansk; Editing by Jacqueline Wong

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