The Feintool Group continued its positive business trend from 1 January to 31 March 2012. The industrial group lifted its turnover to 99 million - 8.7 percent up on the same period of the previous year - while orders received were only a shade below the previous year's figure at CHF 98 million. The orders backlog increased by 14.4 percent to CHF 171 million. Feintool anticipates a stable trend over the coming months.
In the first quarter of 2012, the Feintool Group continued to benefit from the buoyancy of the automotive industry as well as from its strong market position. In consolidated terms, the industrial group's sales amounted to CHF 98.8 million, or 8.7% more than a year earlier. Business in the different segments showed a variable development.
Series production of high-precision parts, which is directly dependent on manufacturing volumes in the automotive industry, gained 8.8% to CHF 65.2 million. Whereas sales in Europe stabilized at the previous year's level in terms of local currencies, in the USA they rose 23.0% and in Japan they increased by 45.5%. It should be borne in mind, however, that the previous year's result in Japan had been influenced by the natural disaster.
The investment goods segment, Fineblanking Technology, had enjoyed high levels of investment in new presses and machines for the parts business in the previous year. As these intra-group orders were lacking in the reporting period, sales at Fineblanking Technology declined by 36.7% to CHF 22.9 million. Third-party business contracted by only 5.3% to CHF 19.2 million.
The automation technology business lifted sales by 35.6% to CHF 14.3 million. This figure includes the turnover posted by IMA Berlin, which was sold on 31 March 2012.
Orders received stabilize at a high level
Order intake stabilized at CHF 98.2 million, just short of the previous year's level. While this figure rose by 18.2% to CHF 66.0 million in the System parts business, in the Fineblanking Technology segment orders received were steady at CHF 26.6 million. After factoring out intragroup sales, however, orders received were down 23.4% at CHF 19.6 million. Order intake in the automation business was also lower, declining by 30.4% to CHF 12.7 million. Although the investment goods business often sees sharp fluctuations from one quarter to another, in some regions our customers in segment have become more reluctant to place orders.
Orders in hand for six months
All in all, orders in hand increased by 14.4% versus the previous year to CHF 171.2 million. In this respect, all segments are better placed than they were twelve months ago. If the effect of the IMA Berlin disposal is factored out, orders in hand actually show a rise of over 20%. The Fineblanking Technology segment still has an orders backlog of six to eight months, while the Automation segment has orders in hand for almost a year.
Positive outlook
Feintool got off to a good start to the new financial year. For the 2012 calendar year, we anticipate consolidated sales of CHF 350-390 million and an EBIT margin of 4-6%. This is in line with our most recent forecasts, and does not take account of our purchase of the Herzing+Schroth Group.
Key financial figures in brief
| Figures in CHF | 31.03.2012 (CHF m) | 31.03.2011 (CHF m) | Change (%) |
| Sales | |||
| - Segment Fineblanking Technology | 22.9 | 36.2 | -36.7 |
| - Segment System Parts | 65.2 | 60.0 | 8.8 |
| - Segment Automation | 14.3 | 10.6 | 35.6 |
| Feintool Group total | 98.8 | 90.9 | 8.7 |
| Orders received | |||
| - Segment Fineblanking Technology | 26.6 | 27.2 | -2.3 |
| - Segment System Parts | 66.0 | 55.8 | 18.2 |
| - Segment Automation | 12.7 | 18.2 | -30.4 |
| Feintool Group total | 98.2 | 99.6 | -1.3 |
| Orders backlog | |||
| - Segment Fineblanking Technology | 45.3 | 41.2 | 10.0 |
| - Segment System Parts | 104.1 | 88.2 | 18.0 |
| - Segment Automation | 34.0 | 31.9 | 6.6 |
| Feintool Group total | 171.2 | 149.6 | 14.4 |
Feintool International Holding AG
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81
feintool-fim@feintool.com
www.feintool.com
Media spokesperson
Karin Labhart
Phone +41 (0)32 387 51 63
Fax +41 (0)32 387 54 16
Mobile +41 (0)79 609 22 02
karin.labhart@feintool.com
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