Solid first quarter - Feintool is still on course
An ongoing positive market environment in combination with the strong positioning of Feintool on the market helped the company achieve a successful first quarter in 2017. Group-wide, the company reached net sales of CHF 145 million, signifying growth in reporting currency of 4.2%. Adjusted for currency effects, this equates to an increase of 5%.
The business in the System Parts segment, the high-volume production of sophisticated precision components, was once again the driver of growth. The segment benefited from the continued good economic situation in the automobile industry and from additional ramp-ups of acquired projects. Net sales rose here by 11% to CHF 132.5 million which, adjusted for currency effects, equates to an increase of 12.1%. The segment gained in all regions. The press and systems business in the Fineblanking Technology segment, in contrast, showed a noticeable reluctance to invest amongst customers in the first quarter of 2017. Here Feintool recorded a reduction in net sales of 22.3% or, adjusted for currency effects, 22.5% to CHF 17.1 million.
Orders received in the investment goods areas rose – good order backlog
However, orders received in the Fineblanking Technology segment are showing a positive result, rising by 51% to CHF 26.9 million. The order backlog also increased by 13.6% to CHF 44.8 million. The extent of the order backlog in the Fineblanking Technology investment goods business is six to eight months.
Expected releases in the high-volume parts business achieve record values
The releases expected over the next six months once again point towards a very high value. They rose by 6.6% to CHF 237.1 million.
Against this background, Feintool expects continued positive business development for the coming year. The company expects net sales of around CHF 580 million and an EBIT margin of 7.5% - 8%. The influences from the latest acquisition of a Chinese forming plant have not yet been accounted for in these figures.
|Figures in CHF|
in CHF million
in CHF million
|Feintool Group consolidated sales||145.0||139.2||4.2||5.0|
|Fineblanking Technology segment||17.1||22.0||-22.3||-22.5|
|System Parts segment||132.5||119.3||11.0||12.1|
Orders received -
|Fineblanking Technology segment||26.9||17.8||51.0||51.1|
|Orders backlog -|
|Fineblanking Technology segment||44.8||39.4||13.6||13.5|
|Expected Releases - series parts|
|System Parts segment||237.1||222.5||6.6||6.4|
Short Profile of Feintool