In the first nine months of the year, around 56% (previous year: 60%) of group sales come from the Fineblanking/Forming Segment. The press and systems business reported a substantially improved sales performance. Innovative marketing concepts and customer projects that had been on ice for some considerable time have now been implemented. The same applies to Schmid, Feintool's second brand of presses.
The continuing growth of the parts and components business in Europe and Japan was dampened somewhat by operational problems in the United States. In addition to the investments that are urgently needed to deal efficiently with numerous new start-ups involving complex components next year, the continuing rise in steel prices presents a major challenge.
The Automation segment contributed 26% (previous year: 24%) of consolidated sales. Sales of automation components rose slightly on last year. The highly competitive systems business is suffering from contracting margins. Order handling problems at the Division's biggest site in Amberg were overcome by means of short-term efficiency enhancement measures, for example the reintroduction of the 40-hour week and staffing adjustments.
Thanks to a significant rise in sales, the Plastic/Metal Components segment contributed 18% (16%) to the consolidated total and, with good capacity utilization and efficiency enhancing measures in place, will report a successful year. Capacity utilization is high at the existing production sites in Biberist and Nashville, as well as at the new production facility in Lamphun, Thailand.
Looking ahead with confidence to the next financial year
With order intake up on the year-back period and a higher level of orders in hand, Feintool still expects sales to increase substantially in the current financial year and anticipates Group profit slightly in positive territory. The Board of Directors and management are confident that the measures to improve operational processes and increase efficiency will pay off. Once Automation has completed its turnaround and the major investments in a number of US facilities are in place, the Feintool Group's long-term competitiveness and prospects will improve in the next financial year.
For further information, please contact:
Reto Hartmann, CEO; Reto Welte, CFO
Phone+41 / (0)32 / 387 51 11, fax +41 / (0)32 / 387 57 81
The media release can be downloaded from the following link:
