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Ad hoc announcement

Moutier, 09/01/2020

Late final payment for sold business property

In January 2018, the Tornos Group signed a preliminary agreement relating to the sale of a business property. This was connected to the centralization of production at the main site in Moutier. The contract stipulated a number of instalments in 2018 and 2019 with a final payment to be made in December 2019. As this final payment has been delayed, the proceeds from the sale of the property – amounting to around CHF 3 million – will not affect profitability for the 2019 financial year as planned.

Tornos will announce further information on its financial statements on January 21, 2020 when it publishes its net sales and order intake.