Feintool comfortably within budget after 3rd quarter

The core Fineblanking/Forming operation (including Schmid) accounted for the bulk of sales (CHF 210.1 m, i.e. 68.5%). Assembly/Automation, which now comprises both the Baltec Group (including Limatec since 1 April 2000) and the operations of IMA Automation and mhk (acquired as of 1 January 2000) posted sales of CHF 51.1 m, i.e. 16.7% of the total. The Plastic/Metal Components business unit, which was set up on 1 May 1999 with the acquisition of Mühlemann AG, reported sales of CHF 45.4 m or 14.8% of the total.


Major contracts for telecoms and automotive industries
This summer the group has landed two major contracts worth about CHF 10 m each from customers in the German telecommunications industry and the French automotive sector.


Growth targets confirmed
Based on the figures at the close of the 3rd quarter of 1999-00 and orders in hand at 30 June 2000, the current financial year – which closes on 30 September 2000 – can be expected to produce a good result. After factoring in changes in the scope of consolidation, net sales are set to rise by about 40% to CHF 410-420 m. With an operating margin of 7.0-7.5%, this should take net consolidated profit to approximately CHF 22-24 m (up from CHF 18.2 m in the previous year).


PS: The presentation of the financial year is scheduled for Tuesday, 28 November 2000.

15 August 2000