Results after 9 months/3rd quarter of 2014: Feintool increases sales by 16 percent

Feintool International Holding AG / Results after 9 months/3rd quarter of 2014: Feintool increases sales by 16 percent . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

In the first nine months of the 2014 financial year, Feintool lifted its sales by 15.7 percent* year on year to CHF 369.5 million. Orders received were up by 10.8 percent to CHF 403.6 million while the orders backlog rose by 17.7 percent to CHF 245.4 million

"Feintool achieved a pleasing increase in sales in the first nine months", said Chairman of the Board of Directors Alexander von Witzleben. "In Europe and the USA in particular, Feintool benefited from contracts that were awarded over the last few years and are now reflected in sales. During this period, moreover, Feintool was selected for new products that also point to growth in the coming years."

Strong rise in sales
Group sales in Q3 2014 increased by 9.4% year-on-year. After already performing well in the previous period, the System Parts segment, which manufactures components, lifted its sales by 11.7% to CHF 105.2 million. This encouraging result is due both to new orders and to the current strength of the automotive market (albeit with some geographical variations). The Fineblanking Technology segment, which operates in the field of investment goods, reported sales (including intra-group sales) of CHF 21.8 million - a 5.8% decrease from the prior-year figure. Third-party sales, however, were virtually unchanged from the previous year.

Overall in the first nine months of 2014, Feintool Group sales rose by 15.7% year on year to CHF 369.5 million. Of this figure, 84% was accounted for by the System Parts segment.

Gratifying order situation
Orders received between 1 July and 30 September 2014 amounted to CHF 134.2 million, 26.6% more than in the prior-year period. With the automotive business remaining stable and plenty of new production runs and releases, order intake at System Parts grew by 32.3%. This represents order releases for next six months. Orders received by the Fineblanking Technology segment increased by a total of 6.3%. Once again, this was due in part to growth in internal orders from System Parts.  

In the first nine months of 2014, orders received were 10.8% higher than in the corresponding period of 2013, rising to CHF 403.6 million.

Orders backlog at a high level
Compared to 30 September 2013, the orders backlog rose 17.7% to CHF 245.4 million. The increase versus 31 December 2013 was an even more impressive 18.8%. In the Fineblanking Technology segment, Feintool now has sufficient work in hand for approximately six months.  

Cautiously optimistic outlook   
Following these successful first nine months, we are confirming our guidance for the whole of 2014 that we issued at the start of the financial year. Barring any disruptions on our markets due to political developments, we are predicting group sales of CHF 470-480 million. On this basis, we still expect the EBIT margin to remain close to 7%.

*) all figures relate to continuing operations (i.e. excluding the Automation segment sold in June 2014)

Brief profile of Feintool

Feintool is the world's leading technology group specializing in the development of fineblanking systems and the production of 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.

With its locations in Europe, Japan, China and the USA, the Feintool Group is represented in the world's major automotive markets. Headquartered in Lyss, Switzerland, the Group has a headcount of just under 2000. At its various locations, Feintool trains about 80 young people in various trades (mainly general mechanics, design engineers and commercial professions).

Key financial figures* in brief

Figures in CHF

 Change in %01.01.-
30.09.2014
(CHF m)01.01.-
30.09.2013
(CHF m)Net sales       - Fineblanking Technology segment -1.7 68.9 70.2 - System Parts segment 17.2 310.5 264.9 Feintool Group total 15.7 369.5 319.3 Orders received       - Fineblanking Technology segment 0.5 71.9 71.6 - System Parts segment 13.3 342.9 302.6 Feintool Group total 10.8 403.6 364.4  Change in
percent01.07. -
30.09.201401.07. -
30.09.2013Net sales       - Fineblanking Technology segment -5.8 21.8 23.2 - System Parts segment 11.7 105.2 94.2 Feintool Group total 9.4 124.6 113.9 Orders received       - Fineblanking Technology segment 6.3 25.7 24.2 - System Parts segment 32.3 114.4 86.5 Feintool Group total 26.6 134.2 106.0  Change in
percent30.09.201430.09.2013Order backlog       - Fineblanking Technology segment -10.2 41.4 46.2 - System Parts segment 24.2 214.1 172.3 Feintool Group total 17.7 245.4 208.6

*) all figures relate to continuing operations (i.e. excluding the Automation segment sold in June 2014)

Feintool International Holding AG
Industriering 8 - 3250 Lyss
Switzerland
www.feintool.com

Media spokesperson

Karin Labhart
Phone +41 32 387 51 57
Mobile +41 79 609 22 02
karin.labhart@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#1866023

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Feintool International Holding AG
Industriering 8 Lyss Schweiz

ISIN: CH0009320091;