News | 26.09.2024
29.08.2017
Feintool increases sales and remains on course.
This result reflects a consistent focus on fineblanking and forming, further penetration of these technologies in international markets and the progressive vertical integration of secondary operations into the production processes of the Feintool plants. The global automobile industry also remained stable overall in the first half of 2017. According to estimates , global car production increased by 2.8% compared to the previous year.
Positive business figures
When adjusted for currency effects, Group-wide sales increased by 7.4% to CHF 296.8 million compared with the previous year. The EBITDA rose – currency-adjusted – by 9.2% to CHF 40.0 million and the operating result rose by 6.2% to CHF 22.5 million. This corresponds to an EBITDA margin of 13.5% and an EBIT margin of 7.6%. The Group’s net income for the reporting period was CHF 14 million.
Parts production in Europe sees significant growth
Sales in the System Parts segment increased by 10.8% to CHF 266.0 million when adjusted for currency. The System Parts segment in Europe was the main driver of growth. Although the rise in automobile production was slightly lower than the previous year, the segment still increased sales in Europe by 18.0%. The share of sales was 56.3%.
Feintool also recorded slight growth of 1.6% in the United States despite decreasing car production and sales. The share of sales amounted to 34.3%. In Asia, Feintool in China is primarily responsible for a moderate sales increase of 2.1% with a share of sales of 9.4%.
By contrast, the investment goods sector with presses and systems fell short of the previous year. When adjusted for currency effects, sales decreased by 16.3% to CHF 37.1 million. However, at CHF 49.3 million, the current order intake is 15% above the previous year and will have a positive impact on earnings for the entire year. With third-party sales of CHF 30.8 million, the Fineblanking Technology segment contributed 10.4% to Group sales.
Financing secured
In order to secure financing for future investments, on June 13, 2017, Feintool signed a syndicated loan agreement for CHF 90 million with six banks from Switzerland and Germany. The agreement has a term of five years.
Optimistic outlook
For the second half of 2017, Feintool expects to continue its positive business development despite a market environment characterized by political uncertainties. A total of CHF 580 million to CHF 600 million in sales and an EBIT margin comparable in size to the first half of 2017 are expected.
The financial key figures at a glance
| Change in local currency in %1 |
Change
in %1 |
Jan. 1- June 30, 2017 CHF millions |
Jan. 1- June 30, 2016 CHF millions |
|
|---|---|---|---|---|
| Net sales |
7.4 | 6.6 | 296.8 | 278.5 |
| EBITDA | 9.2 | 8.1 | 40.0 | 37.0 |
| Operating profit (EBIT) | 6.2 | 5.1 | 22.5 | 21.4 |
| Group result |
1.3 | 0.9 | 14.0 | 13.9 |
| Free cashflow | -47.4 |
2.7 | ||
| Total assets (Comparison period as of Dec. 31, 2016) |
4.9 | 556.9 | 530.7 | |
| Shareholder’s equity (Comparison period as of Dec. 31, 2016) |
0.0 | 230.0 | 229.9 | |
| Sales1 | ||||
| Fineblanking Technology Segment | -16.3 | -16.4 | 37.1 | 44.4 |
| System Parts Segment | 10.8 | 9.9 | 266.0 | 242.0 |
| Consolidated Feintool Group total | 7.4 | 6.6 | 296.8 | 278.5 |
| Orders received investment goods | 14.9 | 14.8 | 49.3 | 43.0 |
| Order backlog investment goods | 10.3 | 10.1 | 47.2 | 42.9 |
| Expected releases – high-volume parts production | 8.6 | 7.6 | 238.6 | 221.8 |
| Change in local currency in %1 |
Change
in %1 |
Apr. 1- June 30, 2017 CHF millions |
Apr. 1- June 30, 2016 CHF millions |
|
|---|---|---|---|---|
| Sales | ||||
| Fineblanking Technology Segment | -10.3 | -10.7 | 20.0 | 22.4 |
| System Parts Segment | 9.7 | 8.7 | 133.4 | 122.7 |
| Consolidated Feintool Group total | 9.8 | 8.9 | 151.7 | 139.3 |
| Orders received investment goods | -10.7 | -10.8 | 22.4 | 25.2 |
1Â compared to the same period in the previous year
