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News Release from: Tornos Technologies
Edited by the Manufacturingtalk Editorial
Team on 09 November 2005
CNC lathe builder records positive
results
The results of the Tornos Group at September 30, 2005 are positive and gross sales stand at CHF 168.9 million - a 9.4% growth compared with the same period the previous year.
The results of the Tornos Group at September 30, 2005 are positive Gross sales stand at CHF 168.9 million, a 9.4% growth compared with the same period the previous year
This article was originally published on Manufacturingtalk on 11 Jun 2001 at 8.00am (UK)
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Following the phenomenal success of the DECO concept on sliding head and multispindle products, Tornos engineers wanted to develop a DECO incorporating fixed headstock technology.
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Tornos has unveiled its new automatic lathe, the DECO 42 f. For the first time, the DECO 2000 concept has been applied to the world of the fixed headstock.
The EBIT of CHF 13.5 millions represents 8.0% of gross sales (2004: CHF 7.0 million/4.5%) and the net result was CHF 13.0 million compared with CHF 2.7 million for the same period the previous year.
As at 30.9.2005, the balance sheet total comes to CHF 166.1 million and equity to CHF 99.0 million, representing 59.6% of total assets (CHF 172.3 million, CHF 83.5 million respectively and 48.5% as at 31.12.2004).
The net debt for the group has dropped by 46.1% during the current year, from CHF 28.0 million as at 31.12.2004 to CHF 15.1 million as at 30.9.2005.
Further reading
Turnkey, multi-spindle lathe has own bar-feeder
At the EMO in Hanover during September of this year, Tornos will unveil as a first throughout the world, its new multi-spindle lathe working on the DECO concept: - the MULTIDECO 32/6 i.
Advanced CNC automatic enhanced further
Since its first appearance at the EMO, Hannover, last year, the Tornos 20a has been further improved aesthetically and the counter spindle increased in diameter.
Modular set-up autos expand subby's business
Needing to increase its flexibility, remain competitive and widen its market opportunities a subcontractor purchased three sliding head turning centres that could be updated as business grew.
* Economic slowdown in business markets - following a positive first six months for the group, the slowdown in demand that was felt and announced several months ago, was experienced during the third quarter.
The bookings received in the first 9 months of the year totalled CHF 168.4 million compared with CHF 177.9 million for the same period the previous year.
The fall is in the order of 5.3% whilst the group still marked 2.3% growth at the end of the first six months.
The third quarter therefore marks an economic slowdown.
Orders backlog as at 30th September amounts to CHF 53.5 million.
It includes CHF 15.8 million of orders which will be delivered in 2006.
This long lead time is mainly attributed to orders recorded for the new products launched in 2005, the industrial production and delivery of which will only take place during the second quarter of 2006.
The arrival of these new products, which are to help Tornos penetrate market sectors hitherto untapped, combined with increased penetration of the Asiatic market, partially alleviated the effects of the economic slowdown.
Faced with the new situation, measures to reduce the installed capacity were introduced in October through variable working hours and, in the same spirit, resumption of work in January 2006 will be on the 9th instead of the 3rd January, as originally planned.
* New, well-received products - following the launch of the Deco 8sp and the MultiDeco 32/6c in April, the EMO (machine tool trade fair), which was held in Hanover in September, was the occasion to launch the Deco 20s and the MultiDeco 20/8d.
Both these products were very positively received and contributed towards making the Tornos stand one of the most frequently visited during this event.
A somewhat exceptional feat for this company was that it received orders for 26 machines at the stand during this time.
* Outlook - given the highly unstable market situation, gross sales for the year 2005 should be around the CHF 215 million mark.
Bearing in mind the anticipated reduction in activity, the result for the fourth quarter will be modest and this situation will probably extend throughout the first half of 2006.
The initial effects of the new product launches on sales and profitability will be revealed with effect from the end of the second quarter and the second half of 2006 should prove more favourable.
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