Due to the global economic downturn caused by the Covid-19 pandemic, Feintool generated sales of 492 million in 2020, 19.1% less than in the previous year in local currency terms. The second half of the year has shown a significant market recovery. Feintool achieved a slightly positive operating result for the financial year 2020.
The System Parts segment, which is active in the parts business, achieved sales of CHF 464 million, a decline of 15.7% in local currency terms. This decline is largely in line with the automotive industry’s market development. The Fineblanking Technology segment, which operates in the capital goods sector, was substantially more affected by the economic slowdown and achieved sales of CHF 44 million, a decline of 40.6% in local currency terms.
Thanks to the significantly improved second half of the year, Feintool achieved a slightly positive operating result (EBIT) for the 2020 financial year.
The full annual financial statements, the 2020 annual report as well as an outlook for the financial year 2021 will be published on March 2, 2021, as part of a virtual annual media conference.
About Feintool
Feintool is an internationally active technology and market leader in the field of fineblanking. This technology is characterized by cost-effectiveness, highest quality and productivity. As a driver of innovation, we continually expand the horizons of fineblanking and develop intelligent solutions to meet the requirements of our customers: either fineblanking systems with innovative tools or the complete production of precise fineblanked, formed and stamped electro lamination components in high outputs for demanding industrial applications. The processes used support the trends in the automotive industry. Feintool acts as a project and development partner in the areas of lightweight construction/sustainability, module variations/platforms and alternative drive concepts such as hybrid and electric drives. The company, founded in 1959 and headquartered in Lyss, Switzerland, owns its production plants and technology centers in Europe, the United States, China and Japan, always making sure to be geographically close to its customers. Around 2,600 employees and over 80 trainees work worldwide on new solutions and create key advantages for Feintool customers.
Feintool International Holding AG
Industriering 8
3250 Lyss
Switzerland
Media spokesperson
Karin Labhart
Phone +41 32 387 51 57
Mobile +41 79 609 22 02
karin.labhart@feintool.com
www.feintool.com
The press release can be downloaded from the following link:
Press Release (PDF)
