Third-quarter sales in line with expectations
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Technology and systems provider and globally operating componentssupplier the Feintool Group continues to feel the effects of its coremarket's persistent reluctance to invest. Year-on-year, sales havefallen by 33.7 percent overall; however this is in line withexpectations.The Group's net sales decreased by 33.7% year-on-year from CHF 427.6million to CHF 283.6 million. At CHF 195.1 million, order intake lagsfar behind the previous year's exceptionally good figure of CHF 440.6million. Similarly, orders in hand fell by 46.9% compared with theprior-year period, from CHF 244.9 million to CHF 130.1 million.Sales down as a result of reluctance to investIn the Fineblanking/Forming segment, sales fell by 34.5% to CHF 182.7million (previous year: CHF 278.7 million). This is due to thepersistent reluctance of the automotive sector to invest. Within thesegment, the Japanese and German parts businesses remain profitable.At CHF 75.8 million, sales by the Automation segment were down 25.8%on the very good year-back figure of CHF 102.1. The fall in demand isspread equally across all business units within the segment.Furthermore, Automation has broken into new sectors and applicationsthat will not impact on sales during the current financial year.As orders begin to run out, sales by the Plastic/Metal Componentssegment, which is currently being wound up, fell by almost halfyear-on-year from CHF 47.5 million to CHF 25.7 million.Order intake remains lowAs at 30 June 2009, order intake in all three segments wassubstantially lower than at the same time last year.In the Fineblanking/Forming segment, new orders were down by 57.8%from CHF 287.8 million to CHF 121.6 million. Pleasingly, marketactivity is growing again among customers and this is noticeable inthe number of enquiries being received. This is a sign that customerconfidence in the market is gradually returning.Order intake in the Automation segment dropped 49.5% to CHF 54.0million (previous year: CHF 107.0 million). Here again, the dropaffected all business units equally. The Systems business unit isexperiencing a slow recovery in its market. Experience has shown thatthe Components and Fastening business units will also benefit fromthis recovery with the appropriate time lag.The fall in orders in the Plastic/Metal Components segment to CHF19.5 million (previous year: CHF 45.8 million) is in line withexpectations given that the business will be liquidated by the end ofMarch 2010.Prognosis better than at mid-yearThe third quarter brought slight improvements in some areas. However,the situation in Feintool's core market remains challenging. To rideout this situation until there is a medium-term recovery, the companyis implementing cost-saving programmes and structural changes. Salesand operating profit for the 2008/2009 financial year will be in linewith expectations, albeit significantly lower than in the recordprior year.Feintool International Holding AGIndustriering 8, CH-3250 LyssPhone +41 (0)32 387 51 11Fax +41 (0)32 387 57 81feintool-fim(at)feintool.comwww.feintool.comMedia spokespersonKarin LabhartPhone +41 (0)32 387 51 63Fax +41 (0)32 387 54 16Mobile +41 (0)79 609 22 02karin.labhart(at)feintool.comThe media release can be downloaded from the following link:http://hugin.info/100443/R/1335415/317354.pdf --- End of Message ---Feintool International HoldingIndustriering 8 Lyss SchweizWKN: 905428; ISIN: CH0009320091 ; Index: SPI, SPIEX, SSCI;Listed: Main Market in SIX Swiss Exchange;
Datum: 18.08.2009 - 07:00 Uhr
Sprache: Deutsch
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