Tornos maintains currency-adjusted net sales 2015 at prior-year level
- Tornos decisively faced the strength of the franc with efficiency improvement measures
- Order intake marked by cautious investment activity in China and flagging watchmaking sector in Switzerland
- Automotive supplier industry and American market shore up demand
The Tornos Group posted net sales of CHF 164.0 million in 2015, a decrease of 6.7% compared to the prior-year period (2014: 175.8 million). Adjusted for exchange rate effects, net sales come to CHF 172.5 million, a slight decrease of CHF 3.3 million or 1.9% below the prior year.
Order intake totalled CHF 160.0 million in the year under review, a decrease of 12.7% compared to the year-back period (CHF 183.2 million). Adjusted for exchange rate effects, new orders come to CHF 172.8 million, a decline of CHF 10.4 million or 5.7% compared to prior year.
These figures are in line with expectations and reflect the strong franc’s influence to which Tornos responded decisively at the beginning of the year by immediately introducing efficiency improvement measures. Furthermore, the values reflect the difficult environment in China and in the Swiss watchmaking industry. This was partially compensated for by the positive development in other industries, notably in the automotive supplier industry, where increased precision is requested from component suppliers.
The Group’s results for 2015 will be published at the media and analysts conference scheduled for March 15, 2016 in Zurich.