Feintool continues growing in Q3
Increased sales in Q3
In the third quarter of 2017, Feintool Group sales were up 10.8% compared to the same period last year (in local currency +9.5%).
The System Parts segment, which is active in high-volume parts production, increased its quarterly sales by 11.4% (in local currency +9.9%) to CHF 135.3 million. Despite some manufacturers reducing production owing to company holidays, the global automotive market remained robust during the summer months. Feintool benefited once again from this overall favorable environment, whereby the growth was mainly driven by the European locations.
Sales in the investment goods segment, the Fineblanking Technology segment, rose significantly in the third quarter, reaching CHF 26.2 million, an increase of 17.2% (in local currency +17.4%) over the previous year.
Encouraging order intake in the capital goods segment
The order intake of the Fineblanking Technology segment recovered significantly after a weaker first half-year, and is 18.3% higher than the prior-year period after the first nine months. The order backlog also recorded an increase of 16.6%.
Expected releases in the high-volume parts business remain encouraging
Feintool's customers in the System Parts segment are planning releases amounting to CHF 260.2 million in the coming six months. This figure is 16.6% higher than in the previous year.
For 2017 as a whole, 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 of around 7.6% are expected.
The financial key figures at a glance
in CHF m
|Sales Feintool Group||450.2||416.9||8.0||8.1|
|System Parts segment||401.2||363.4||10.4||10.5|
|Fineblanking Technology segment||63.3||66.8||-5.2||-5.0|
|Orders received (Investment goods)||70.0||59.2||18.3||18.4|
|Order backlog (Investment goods)||42.3||36.3||16.6||16.7|
|Expected Releases high-volume parts production||260.2||223.1||16.6||14.1|
in CHF m
|Sales Feintool Group ||153.4||138.4||10.8||9.5|
|System Parts segment||135.3||121.4||11.4||9.9|
|Fineblanking Technology segment||26.2||22.4||17.2||17.4|
|Orders received (Investment goods)||20.7||16.2||27.5||27.6|
1) Compared to the same period in the previous year
Feintool in brief