Feintool results for 1st quarter of 2014: Double-digit increase in order intake and earnings

Feintool International Holding AG / Feintool results for 1st quarter of 2014: Double-digit increase in order intake and earnings . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

Feintool systematically continued its positive business performance between 1 January and 31 March 2014. The industrial group's sales rose 16 percent from the prior-year period to reach CHF 131 million. Order intake was up by an impressive 33 percent to CHF 168 million, while the orders backlog also rose 33 percent to CHF 276 million.

The Feintool Group benefited from its strong market position and a moderate recovery of the European economy in the first quarter of 2014. Compared with the same period of 2013, and in purely organic terms, the Group raised its sales by 16.0% to CHF 131.1 million. The bulk manufacturing of demanding precision components (System Parts segment), which is directly dependent on automotive production volumes, increased sales by 20.1% to CHF 100.5 million despite adverse currency effects. In the capital goods business, Fineblanking Technology's sales decreased by 8.6% to CHF 23.1 million. During the period under review, only a small number of presses and systems were delivered for the internal System Parts segment. Business with third-party customers rose by 6.4% year on year to CHF 19.6 million. Sales in the Automation segment were almost unchanged from the previous year at CHF 10.9 million.

Strong order intake
Orders received were up by an impressive 33.3% to CHF 167.5 million. In the System Parts segment, they rose by 28.0% to CHF 129.1 million. All regions contributed to the organic growth, with Asia's share making the smallest contribution due to the weaker Japanese yen. Orders received by the Fineblanking Technology segment rose by 21.3% to CHF 27.0 million overall, with third-party business recording a slightly bigger gain (24.7%) to CHF 24.8 million. In the Automation segment, order intake rose by a factor of about 2.5 to CHF 13.6 million. The market recovery was noticeable at IMA Automation Amberg, which operates mainly in Europe.

Orders in hand for six months
The orders backlog climbed by 33.1% year on year to CHF 275.6 million. Compared with 31 December 2013, this equates to an increase of 13.5%. Whereas the Parts business saw a steep rise in its orders backlog, the figure for the investment goods business, Fineblanking Technology, saw a slight (1.6%) decrease. In the Automation business, orders in hand almost doubled. Fineblanking Technology now has roughly six months' work in hand, whereas the orders backlog at Automation is sufficient for more than twelve months.

Bright outlook
The new financial year began successfully for Feintool. With the level of business in the sector remaining stable worldwide, we expect this development to continue. We therefore anticipate Group sales of around CHF 520 million and an operating margin in the region of 7%. In the medium term, our aim is to increase sales to CHF 600 million on an EBIT margin of 8%.

Key financial figures in brief

Figures in CHF31.03.14
in CHF m31.03.13
in CHF mChange in %Sales - Feintool Group131.1113.016.0    Fineblanking Technology segment 23.1 25.3 -8.6    System Parts segment 100.5 83.7 20.1    Automation segment 10.9 10.9 0.6 Orders received - Feintool Group167.5125.733.3    Fineblanking Technology segment 27.0 22.3 21.3    System Parts segment 129.1 100.9 28.0    Automation segment 13.6 4.9 175.8 Orders backlog - Feintool Group275.6207.133.1    Fineblanking Technology segment 42.1 42.8 -1.6    System Parts segment 202.6 154.6 31.0    Automation segment 38.4 20.2 90.2

Profile in brief
Feintool is the world's leading technology group specializing in the development of fineblanking systems and the production of precision, ready-to-install fineblanking and forming components, notably for the automotive industry. The Group maintains close partnerships with its customers across the entire fineblanking and forming process - from component design, toolmaking and system construction through to large-scale series parts production. In addition to fineblanking, the Feintool Group also deploys other key processes such as precision forming and orbital technology, and is the world's only supplier of all-round solutions for the cost-effective manufacture of complex precision components. A further brand in its portfolio is IMA Automation - a leading manufacturer of automated assembly systems.

With its locations in Europe, Japan, China and the USA, Feintool Group is represented in the world's major automotive markets. Headquartered in Lyss, Switzerland, the Group has a headcount of 2000. At its various locations, Feintool provides training at any given time for over 100 young people in a number of skills (tool mechanics, design engineers and commercial trades).

Feintool International Holding AG
Industriering 8
CH-3250 Lyss
Switzerland

Media spokesperson

Karin Labhart
Phone +41 (0)32 387 51 57
Mobile +41 (0)79 609 22 02
karin.labhart@feintool.com
www.feintool.com

The press release can be downloaded from the following link:

Press Release (PDF)


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Source: Feintool International Holding AG via Globenewswire
HUG#1777303

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Feintool International Holding AG
Industriering 8 Lyss Schweiz

ISIN: CH0009320091;