1st semester results of 2017 financial year: Feintool increases sales and remains on course

Feintool International Holding AG /
1st semester results of 2017 financial year: Feintool increases sales and
remains on course
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The issuer is solely responsible for the content of this announcement.

Technology company Feintool continues on its growth trajectory. The Feintool Group’s sales increased by 6.6% to CHF 296.8 million in the first half of 2017. Adjusted for currency effects, this equates to an increase of 7.4%. Operating profit rose by 5.1% (6.2% when adjusted for currency effects) to CHF 22.5 million compared with the previous year. This positive development is expected to continue in the second half of the year.

This result reflects a consistent focus on fineblanking and forming, further penetration of these technologies in international markets and the progressive vertical integration of secondary operations into the production processes of the Feintool plants. The global automobile industry also remained stable overall in the first half of 2017. According to estimates[1], global car production increased by 2.8% compared to the previous year.

Positive business figures
When adjusted for currency effects, Group-wide sales increased by 7.4% to CHF 296.8 million compared with the previous year. The EBITDA rose – currency-adjusted – by 9.2% to CHF 40.0 million and the operating result rose by 6.2% to CHF 22.5 million. This corresponds to an EBITDA margin of 13.5% and an EBIT margin of 7.6%. The Group’s net income for the reporting period was CHF 14 million.

Parts production in Europe sees significant growth
Sales in the System Parts segment increased by 10.8% to CHF 266.0 million when adjusted for currency. The System Parts segment in Europe was the main driver of growth. Although the rise in automobile production was slightly lower than the previous year, the segment still increased sales in Europe by 18.0%. The share of sales was 56.3%.

Feintool also recorded slight growth of 1.6% in the United States despite decreasing car production and sales. The share of sales amounted to 34.3%. In Asia, Feintool in China is primarily responsible for a moderate sales increase of 2.1% with a share of sales of 9.4%.

By contrast, the investment goods sector with presses and systems fell short of the previous year. When adjusted for currency effects, sales decreased by 16.3% to CHF 37.1 million. However, at CHF 49.3 million, the current order intake is 15% above the previous year and will have a positive impact on earnings for the entire year. With third-party sales of CHF 30.8 million, the Fineblanking Technology segment contributed 10.4% to Group sales.

Financing secured
In order to secure financing for future investments, on June 13, 2017, Feintool signed a syndicated loan agreement for CHF 90 million with six banks from Switzerland and Germany. The agreement has a term of five years.

Optimistic outlook
For the second half of 2017, Feintool expects to continue its positive business development despite a market environment characterized by political uncertainties. A total of CHF 580 million to CHF 600 million in sales and an EBIT margin comparable in size to the first half of 2017 are expected.

Feintool in brief
Feintool is an internationally active technology and market leader in the field of fineblanking. This technology is distinguished by cost-effectiveness, quality and productivity.
As an innovation driver, Feintool consistently pushes the boundaries of fineblanking and develops smart solutions for its customers’ ideas with two possibilities: On the one hand, our fineblanking systems and innovative tools and, on the other hand, the complete production of precise fineblanking and formed components in high outputs for demanding industrial applications.
Feintool covers the entire process chain. The processes used by Feintool support the trends in the automobile industry. Thus, Feintool is a project and development partner in the field of lightweight construction, module variations and alternative drive concepts, such as hybrid and electric.
The company, founded in 1959 and headquartered in Lyss, Switzerland, has its own production plants and technology centers in Europe, the United States, China and Japan so it is always near its customers. Around 2,200 employees and nearly 70 trainees work worldwide on new solutions and create key advantages for Feintool’s customers.

The financial key figures at a glance

  Change in
local currency
in %[1]
Change in %[1]
Jan. 1 – June 30, 2017
CHF millions
Jan. 1 – June 30, 2016
CHF millions.
Net Sales 7.4 6.6 296.8 278.5
EBITDA 9.2 8.1 40.0 37.0
Operating profit (EBIT) 6.2 5.1 22.5 21.4
Group result 1.3 0.9 14.0 13.9
Free cashflow     -47.4 2.7
Total assets
(Comparison period as of Dec. 31, 2016)
  4.9 556.9 530.7
Shareholder’s equity
(Comparison period as of Dec. 31, 2016)
  0.0 230.0 229.9
– Fineblanking Technology segment -16.3 -16.4 37.1 44.4
– System Parts segment 10.8 9.9 266.0 242.0
Consolidated Feintool Group total 7.4 6.6 296.8 278.5
Orders received investment goods 14.9 14.8 49.3 43.0
Order backlog  investment goods 10.3 10.1 47.2 42.9
Expected releases – high-volume parts production 8.6 7.6 238.6 221.8

  Change in
local currency
in %[1]
Change in %[1]
Apr. 1 – June 30, 2017
CHF millions
Apr. 1 – June 30, 2016
CHF millions
– Fineblanking Technology segment -10.3 -10.7 20.0 22.4
– System Parts segment 9.7 8.7 133.4 122.7
Consolidated Feintool Group total 9.8 8.9 151.7 139.3
Orders received investment goods -10.7 -10.8 22.4 25.2

[1] compared to the same period in the previous year

All detailed information on the 2017 half-year report can be found at https://www.feintool.com/en/company/investor-relations/

Feintool International Holding AG
Industriering 8
3250 Lyss


Stefan Diepenbrock
Telephone +41 32 387 52 32
Mobile +41 79 342 73 08

The press release can be downloaded from the following link:

Press Release (PDF)

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Feintool International Holding AG via Globenewswire

— End of Message —
Feintool International Holding AG
Industriering 8 Lyss Switzerland
ISIN: CH0009320091;


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