The Adval Tech Group is on course
2007 annual financial statements
By completing the acquisition of QSCH Kft. in Hungary at the end of April 2007 and signing an agreement to acquire the Omni Group in Asia on January 14, 2008, Adval Tech achieved the global presence it was seeking earlier than expected. At the same time the group has reinforced its components business as planned with these acquisitions and in particular broadened its base in the automotive and consumer goods markets. The Board of Directors of Adval Tech Holding Ltd has appointed Neo Age Seng, President of the Omni Group, who has a wealth of experience in the injection molding market and technology, as a member of Group Management.
The Stamping and Forming Division (Styner+Bienz, QSCH) reported a further increase in total income of CHF 45.1 million (+33%) to CHF 182.5 million, following its good performance in 2006. The division s operating earnings (EBIT) increased from CHF 6.6 million to CHF 7.5 million. The focus on the automotive market and efforts to increase market and customer penetration bore fruit.
Total income of CHF 166.1 million reported by the Injection Molding Division (AWM, Foboha, Teuscher) exceeded the previous year s figure by 20%. Operating earnings (EBIT) rose from CHF 0.5 million to CHF 6.9 million. The division reported higher sales revenues both in moldmaking and in the components business. However, the division s EBIT margin of 4.1% is still unsatisfactory.
Adval Tech will provide detailed information on the annual financial statements and an initial review of the group s development in the current year at its press conference in Zurich on Monday, March 31, 2008. The Annual General Meeting of Adval Tech Holding Ltd, which will also be asked to approve the increase in share capital planned to replace the bridging finance for the acquisition of Omni, will be held on April 24, 2008. The Board of Directors will propose to the Annual General Meeting that the dividend be increased from CHF 6.00 to CHF 7.00 per share, equivalent to a payout of 31% of net profit for the year.
Adval Tech Gruppe
The Adval Tech Group is a leading global supplier of tools, special machinery, subassemblies, systems and volume components in the technology sectors of stamping and forming (metals) and injection molding (plastics). It is a supplier and value-adding partner for companies in selected industries where metal, plastic or composite components are manufactured and used in large volumes. Adval Tech covers the entire value chain: from product design and the development of volume components through design and production of the necessary molds and dies to complete manufacturing systems and the resulting production of components. The Adval Tech Group focuses on selected markets in the automotive, medical technology and consumer goods sectors.
Adval Tech trades on the markets under the names of Styner+Bienz, QSCH, AWM, Foboha, Teuscher and Omni.