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Feintool International Holding (SWF:FTON) Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
The Lyss-based Feintool Group - a leading technology and systems provider and a globally operating components supplier - has posted good results for the first nine months of the 2007/08 financial year. Net sales increased by 12.1% to CHF 427.6 million compared to the same period last year. Although order intake dropped by 1.3% to CHF 440.6 million (from CHF 446.3 million twelve months previously), orders in hand continued to rise, advancing 3.5% to CHF 244.9 million (CHF 236.6 million a year ago). Sales and operating profit look set to exceed last year's figures by the end of the current financial year.
Sales gain a further 12.1% In the Fineblanking/Forming segment, net sales increased by 10.9% to CHF 278.7 million (year-ago figure: CHF 251.3 million). This is primarily thanks to the realization of major press projects in the systems business and the high level of additional capacity utilization for European and Japanese parts production. Also worth noting is the increase in the Automation segment, where sales rose by 28.8% to CHF 102.1 million (CHF 79.3 million in the same period last year). This encouraging development is due to the high demand for the attractive, updated product range of Automation Components and to Automation Systems high volume of orders in hand at the beginning of the financial year. The negative trend in net sales in the Plastic/Metal Components segment from CHF 51.7 million to CHF 47.5 million is in line with expectations. This is due to product expirations and the insufficient number of new orders won during recent years.
Incoming orders remain at a high level At CHF 287.8 million, incoming orders in the Fineblanking/Forming segment remain 1.3% ahead of the same period last year (CHF 284 million). High fuel prices are currently resulting in a decline in car sales, which is having a knock-on effect on parts production orders. However, various new customer projects are in the pipeline, giving rise to a promising outlook for the future. Order intake in the press business on the other hand remains practically at the same level as 12 months ago. Compared with last year's excellent figures in the Automation segment (CHF 110.6 million), order intake is down slightly by 3.2% to CHF 107 million. Thanks to its attractive product range, Automation Components was able to post a considerable increase in order intake. In contrast, Automation Systems and Riveting received fewer orders due to an absence of major contracts. The forecast drop in order intake at Plastic/Metal Components from CHF 51.7 million to CHF 45.8 million was in line with expectations but is nevertheless unsatisfactory.
Good prospects for the financial year ending 30 September Thanks to the continuing favourable order intake and the very positive situation regarding orders in hand, it is expected that sales and operating profit will exceed last year's figures by the end of the current financial year.
For further information, please contact: Joachim Kaufmann, CEO, phone +41 (0)32 387 51 11
Feintool is a leading technology and systems provider in fineblanking/forming and assembly automation. It is also a global supplier of metal and plastic components.
Feintool operates throughout the world at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, Britain, the United States, Japan and China, where around 1900 employees are committed to customer satisfaction.
