Product category:
Manufacturing orders, contracts, financial reports
News Release from: Tornos Technologies
Edited by the Manufacturingtalk Editorial
Team on 23 March 2006
Automatic lathe builder raises profits
The Tornos group - builder of CNC automatic lathes and multi-spindle lathes - had a successful 2005 when gross sales amounted to SFr 222.6 million - a 4.5% increase over 2004.
The Tornos group came out of the financial year 2005 successfully, thereby confirming the revival that started in 2004 Gross sales amounted to SFr 222.6 million, a 4.5% increase compared with the previous year (SFr 213.0 million)
This article was originally published on Manufacturingtalk on 11 Jun 2001 at 8.00am (UK)
Related stories
Four patents granted for fixed headstock DECO
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.
Lathe combines best of CNC and cams
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 year closed with a net profit of SFr 12.8 million, an 89% growth compared with 2004 (SFr 6.8 million).
The operational cash flow of SFr 19.6 million meant that the net debts of the Group could be further reduced from SFr 28.0 million CHF to SFr 10.8 million during the course of the year.
Equity capital of SFr 100.2 million represented 60.4% of the total of the balance sheet as at Dec 31, 2005, as against 48.5% the previous year.
In accordance with its policy of debtreduction and financial independence, the board of directors will propose to the General Assembly that a dividend should not yet be paid for this year.
* New products - the costs of research and development more than doubled between 2004 and 2005, rising from SFr 5.5 million to SFr 12.4 million.
Four new machines were launched in 2005 and three others will follow in 2006.
These innovations mainly represent an expansion of the product range and have been extremely well received by the markets.
The existing range benefits of many developments and confirms the company's undisputed leading position in the conventional sector of highly complex parts.
Outlook The second half of 2005 was marked by a considerable decline in the market.
However, Tornos anticipates an economic upturn during the first six months of 2006.
This will be reinforced by the impact of the new products launched in 2005, the volumes of which will gradually increase during the course of the year.
Under these circumstances, a 5 -10% growth in sales is anticipated.
The operating margin in relation to sales will remain stable bearing in mind the increased supplementary costs inherent in the launch of new products.
• Tornos Technologies: contact details and other news
• Email this article to a colleague
• Register for the free Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
Search the Pro-Talk network of sites
