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Ad hoc announcement pursuant to Art. 53 LR
The technology group Feintool will achieve sales of around CHF 300 million in the first half of 2021, driven by the recovery of the automotive industry. Thanks to the high capacity utilization of the plants and their increased profitability, an operating EBIT margin of around 6% is expected. Furthermore, long-term financing is secured by a renewed promissory note of EUR 35 million.
Feintool will realize sales of around CHF 300 million in the first half of 2021. The group benefited in particular from the recovery in the automotive industry. High releases from customers in the parts business segment (System Parts) led to high capacity utilization and a pleasing operating EBIT margin of around 6%.
Feintool issues a promissory note of EUR 35 million with maturities of three, five and seven years. On the one hand, the technology group thus secures the refinancing of the EUR 25 million tranche expiring in July 2021 and on the other hand it enables Feintool to secure a part of the investments for its growth strategy in the coming years at favorable conditions.
The full semi-annual financial statements, the 2021 report on half-year figures as well as an outlook for the financial year 2021 will be published on August 19, 2021, on the occasion of a media conference.
Feintool is an internationally active technology and market leader in the field of fineblanking. This technology is characterized by cost-effectiveness, highest quality and productivity. As a driver of innovation, we continually expand the horizons of fineblanking and develop intelligent solutions to meet the requirements of our customers: either fineblanking systems with innovative tools or the complete production of precise fineblanked, formed and stamped electro lamination components in high outputs for demanding industrial applications. The processes used support the trends in the automotive industry. Feintool acts as a project and development partner in the areas of lightweight construction/sustainability, module variations/platforms and alternative drive concepts such as hybrid and electric drives. The company, founded in 1959 and headquartered in Lyss, Switzerland, owns its production plants and technology centers in Europe, the United States, China and Japan, always making sure to be geographically close to its customers. Around 2,600 employees and over 80 trainees work worldwide on new solutions and create key advantages for Feintool customers.
Feintool International Holding AG
The press release can be downloaded from the following link:
Press Release (PDF)