Feintool experiences drop in volumes in first quarter of 2008/09
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The downturn in the automotive industry since October 2008 impacted
primarily on order intake and orders in hand at the Lyss-based
Feintool Group in the first quarter of the 2008/09 financial year.
The Group - which is the leading systems provider in
fineblanking/forming and assembly automation as well as a supplier of
metal and plastic components to the global automotive industry -
posted an order intake of CHF 74.5 m (down 54.6% on the previous
year's very positive results) and orders in hand of CHF 177.6 m (down
31.0% from CHF 257.6 m the previous year). These falls are due
primarily to fewer call-offs from customers in the components
business, with volumes substantially lower than in the previous year.
Sales, however, only dropped by 17.6% to CHF 118.2 m in the first
quarter (compared with CHF 143.6 m in the previous year). The slump
in demand led to underutilization of capacity in components
manufacturing. At present, orders in hand are very good at the
Feintool technology centres and are still satisfactory at the systems
By the end of the current financial year 2008/09, Feintool Group's
order volumes will be below the previous year's excellent results. A
value-based forecast is not yet possible due to insufficient
Distorted comparative values for order intake and orders in hand in
the manufacturing business
In terms of order intake and orders in hand in global parts
production, only a very limited comparison can be made with the
previous year's excellent results due to the significantly reduced
scope of the call-off volumes from components customers. While the
planning horizon for call-off orders was around six months on average
in the previous year, it has since been reduced to just a few weeks.
It is not, therefore, possible to extrapolate the figures to the
entire financial year.
Ready to seize new opportunities
The market consolidation which has been triggered by the financial
crisis has also brought about opportunities for growth. Feintool is
currently processing relevant requests for production takeovers in
the US which could improve efficiency at its own plants in the short
Technology field on track
In the technology field, toolmaking at the technology centres in
Lyss, Cincinnati and Atsugi is seeing very good capacity utilization.
This is a sign that new components are being developed which will
later be manufactured.
Short-term outlook more difficult than medium-term trend
Although the short-term demand for cars is currently declining, this
does not change the fact that the automotive industry is anticipating
significant growth in the medium term, in particular in South
America, eastern Europe and Asia. In addition, the high innovation
rate in the automotive industry, aimed at reducing CO2 emissions and
fuel consumption, is unleashing much potential for Feintool Group in
terms of opening up new applications and thus securing further growth
in the future.
For further information, please contact:
Joachim Kaufmann, CEO, phone +41 (0)32 387 51 11
Feintool is a leading technology and systems provider in
fineblanking/forming and assembly automation. It is also a global
supplier of metal and plastic components.
Feintool operates globally at the company's own facilities in
Switzerland (head office in Lyss), Germany, France, Italy, Great
Britain, the United States, Japan and China, where around 1900
employees are committed to customer satisfaction.
Feintool International Holding
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81
Phone +41 (0)32 387 51 63
Fax +41 (0)32 387 54 16
Mobile 079 204 41 13
The media release can be downloaded from the following link:
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Feintool International Holding
Industriering 8 Lyss Schweiz
905428; ISIN: CH0009320091 ; Index: SPI, SPIEX, SSCI;
Listed: Main Market in SIX Swiss Exchange;
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