Adval Tech achieves EBIT turnaround
For the 2013 financial year, the Adval Tech Group expects to post EBIT of between CHF 6-7 million. It has thus achieved the targeted turnaround. The fact that the Group's net result will be clearly negative is due primarily to the deconsolidation of companies sold during the year as a result of the focusing strategy. The deconsolidation effects are a result of the recycling of goodwill and currency effects. The deconsolidation is having a positive impact on the Adval Tech Group's equity ratio, but is not affecting cash flow.
Adval Tech will announce the definitive figures for 2013 at the end of March 2014. The annual media conference and publication of the annual report are scheduled for April 29, 2014.
As at the closing date of February 14, 2014, the Adval Tech Group had successfully transferred all shares in Omni Plastics (Xiamen) Co. Ltd. to Xiamen Voke Mold & Plastic Engineering Co., Ltd.
March 2014: Announcement of the results for the 2013 financial year
April 29, 2014: Conference for financial analysts and press conference on annual report 2013
April 29, 2014: Publication of the annual report 2013
May 22, 2014: General meeting of shareholders 2014
Adval Tech Gruppe
Adding value through innovations - that's what Adval Tech stands for. As a global technology and process partner Adval Tech focuses on the complementary technologies of metal stamping and forming and plastic injection molding. In selected markets in the automotive, medical technology and consumer goods sectors, Adval Tech is a leading global supplier of series parts, subassemblies, systems and tools. As a supplier and value-adding partner, Adval Tech covers the entire value chain: from product design and the development of series parts through construction and production of the necessary tools and molds to entire production systems and the resulting manufacture of components. In mid-2013 the Adval Tech Group had a workforce of 2,117. In 2012 the Group generated total income of CHF 279.6 million.