With revenues of CHF 242.2 m, the Fineblanking/Forming segment contributed 58.0% of Group sales (previous year: 54.9%). In the systems business, Feintool’s new HFAplus generation of presses was well received by the market. Capacity utilization at the Jona site (where the second brand, Schmid, is produced) was unsatisfactory, however, and measures to optimize the fineblanking presses operation have thus already been initiated. At EuroBlech, Europe’s leading technology trade fair, Feintool presented the result of a further new development – the Feintool HLT fineblanking system with integrated stock feeding line. The European and American parts manufacturing facilities achieved their targets, with sales down slightly from last year. The Group’s Japanese plant improved its sales performance significantly despite the weakness of Japan’s economy. The signing of new long-term supply contracts will help the European and US factories to achieve even better capacity utilization in the medium term.
The Assembly/Automation segment's contribution to consolidated sales was CHF 115.7 m, i.e. 27.7% of the total (down from 31.5%). The systems business was hard hit by the continuing weakness of demand, especially from the telecoms and mobile phone industries. The segment still has a long list of projects, but orders have again been deferred in recent months. New developments are in line with changed customer needs, creating a sound base for future growth. Despite interesting innovations and a redoubling of marketing efforts, the automation components business (United Components) was hit by the declining fortunes of customers in the special-purpose machine construction industry.
The Plastic/Metal Components segment posted sales of CHF 59.8 m, contributing 14.3% of the Group total (previous year: 13.5%). It was unable to equal the year-back figure because of lower call-ups on existing orders. A number of new launches at Biberist and Tennessee will help to ensure substantial growth over the next few years.
Although it is difficult to make any precise forecasts for the 2002/03 financial year in the present economic climate, Feintool is well positioned for the future and sees opportunities for growth again as of 2004.
Group sales by segment:
- Fineblanking/Forming: CHF 242.2 m (260.4 m)
- Assembly/Automation: CHF 115.7 m (148.1 m)
- Plastic/Metal Components: CHF 59.8 m (63.6 m)
Consolidated sales: CHF 417.5 m (471.1 m)
Group sales by region:
- Europe: 64% (64%)
- North America: 26% (28%)
- Asia (+ rest of world) 10% (8%)
Detailed information on the Group's results and financial position and on the prospects for the new financial year will be presented at the press conference on 26 November 2002.
Based in Lyss, Switzerland, 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’s 1800 employees at the company’s own facilities in Switzerland, Germany, France, Italy, Great Britain, the United States, Japan and China are committed to customer satisfaction.