Watch
Adval Tech expects to report lower profits
Advance information regarding the 2008 semi-annual financial statements
Niederwangen, (PresseBox) -
The Adval Tech Group expects to report lower profits in its semi-annual financial statements for 2008. It anticipates that operating earnings(EBIT) will fall some CHF 2 million short of the equivalent figure for the first half of 2007(CHF 7 million). At the net profit level the outcome will be slightly positive following the expected decline of some CHF 4 million.
The decline in profits foreseen by Adval Tech in the first half of 2008 has been triggered primarily by two developments in the Injection Molding Division, which have resulted in inadequate capacity utilization: the cancellation and postponement of a number of significant moldmaking orders in the consumer goods sector in the US dollar zone and the slump in the market for molds used in the manufacture of optical discs.
The improvement in EBIT at the Stamping and Forming Division and the first contribution to EBIT by the recently acquired Omni Group are insufficient to enable the Adval Tech Group to offset the resulting shortfalls in full.
Net profit will also be adversely affected by a non-recurring financial expense of some CHF 2 million in connection with the bridging loans for the acquisition of the Omni Group.
Adval Tech will publish its detailed semi-annual financial statements and its outlook for the expected trend in the second half of the year on August 28, 2008.
The decline in profits foreseen by Adval Tech in the first half of 2008 has been triggered primarily by two developments in the Injection Molding Division, which have resulted in inadequate capacity utilization: the cancellation and postponement of a number of significant moldmaking orders in the consumer goods sector in the US dollar zone and the slump in the market for molds used in the manufacture of optical discs.
The improvement in EBIT at the Stamping and Forming Division and the first contribution to EBIT by the recently acquired Omni Group are insufficient to enable the Adval Tech Group to offset the resulting shortfalls in full.
Net profit will also be adversely affected by a non-recurring financial expense of some CHF 2 million in connection with the bridging loans for the acquisition of the Omni Group.
Adval Tech will publish its detailed semi-annual financial statements and its outlook for the expected trend in the second half of the year on August 28, 2008.
Adval Tech Gruppe
Die Adval Tech Gruppe gehört zu den führenden globalen Anbietern von Werkzeugen, Anlagen, Baugruppen, Systemen und Serienteilen in den Technologiebereichen Stanzen und Umformen(Metall) sowie Spritzgießen (Kunststoff). Sie ist Zulieferer und Wertschöpfungspartner von Unternehmen ausgewählter Branchen, in denen Metall-, Kunststoff- oder Verbundteile in grossen Stückzahlen hergestellt und verwendet werden. Dabei deckt Adval Tech die gesamte Wertschöpfungskette ab: vom Produktdesign und der Entwicklung von Serienteilen über die Konstruktion und den Bau der dazu notwendigen Werkzeuge und Formen bis zu ganzen Produktionssystemen und der daraus resultierenden Fertigung von Komponenten. Die Adval Tech Gruppe fokussiert auf ausgesuchte Märkte in den Branchen Automobil, Medizinaltechnik und Konsumgüter. Auf den Märkten tritt Adval Tech unter den Namen Styner+Bienz, QSCH, AWM, Foboha, Teuscher und Omni auf.
