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euro adhoc: Winterthur Technologie AG / other / Winterthur Technology Group shows strong organic growth - Successful expansion into Eastern Europe - Increased sales in home markets - Solid end-of-year
Geschrieben am 26.01.2007 - [Nächster Artikel] |
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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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26.01.2007
The Winterthur Technology Group (WTG) with its headquarters in Zug,
Switzerland has in 2006 increased its sales in comparison with the
previous year by 10.4 percent to EUR 86.4 Million. Based on the Swiss
franc this represents an organic growth of 12.5 percent. The strong
order intake led to a 10% higher order backlog compared with the
start of previous year. For 2007, the Winterthur based grinding wheel
and cut-off disk manufacturer expects further increases in sales and
gains in market share.
Pronounced increases experienced by our customers in the steel,
automotive and engineering industries have sped up the demand for
abrasive products of the Winterthur Technology Group. The 2006 net
sales stood at EUR 86.4 Million (CHF 136.0 Million). In Swiss francs
this purely organic growth represents an increase of 12.5 %, while in
the reporting currency EURO it represents an increase of 10.4%. Given
the growth of the overall market of two percent in the reporting
year, excluding the semiconductor industry, WTG has once more gained
market share.
Order intake showed greater increases than sales. While this holds
true for all the product groups, it is more pronounced for grinding
and cut-off wheels for steel conditioning as steel production is
experiencing a boom phase. This development resulted in an increase
in the book-to-bill-ratio to 107% at group level and an order backlog
which stands at 10% above that of the previous year. In percent, the
subsidiaries in Eastern Europe and Asia showed the strongest growth.
The home markets of Switzerland, Germany, Austria and Sweden,
nevertheless, also achieved above average increases in sales.
Earnings before interest, tax, depreciation and amortisation (EBITDA)
in percent of sales are expected to reach a similar level as in 2005
(18.3% margin). Although both the sales organisation and the research
department had been strengthened, the average personnel level
remained slightly below that of the previous year. Extending the
business areas of services and a system based sales approach were
further elements that contributed to the increase in sales.
As announced in the half-year report, R&D work remains focused on the
areas of complex vitrified ceramics. The bond system "uWin", which
will be introduced to the market in 2007, has not only proven itself
in cylindrical grinding but has also yielded the first excellent
results in creep-feed grinding. WTG managed to achieve a 25%
reduction of the bond components while at the same time realised an
increase in the material strength of the bonding system. This
translates into a substantially better cutting performance of the
grinding wheels. Furthermore, high-speed grinding wheels for up to
300 m/sec surface speed (greater than 1,000 km/h) are also under
development.
For 2007, activities to increase sales will concentrate on Eastern
Europe and Asia with the aim to show significant growth and an EBITDA
margin of 18% to 19%.
Profile Winterthur Technology Group (WTG), a leading European
provider of complex abrasive technology, is headquartered in Zug and
has operations in Switzerland, Austria and Sweden. Winterthur
Technology Ltd. is a holding company under Swiss law which is listed
on the SWX Swiss Exchange. It has slightly more than 600 employees,
and in 2005 achieved sales of approximately EUR 78 million. Working
closely with clients, the company develops and produces complex
high-margin, high-tech abrasive technology consumables, primarily
bonded abrasive tools used in the automotive, turbine and steel
industries. Production takes place in Austria (Villach) and Sweden
(Västervik). In Switzerland (Winterthur) there is a finishing plant
and a logistics centre. The Group’s main brands are Winterthur,
Rappold and SlipNaxos. WTG’s products - vitrified grinding wheels,
resin bonded grinding wheels, cut-off wheels and diamond and CBN
grinding wheels - are sold in all the relevant European markets as
well as in North and South America and Asia
end of announcement euro adhoc 26.01.2007 07:00:00
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ots Originaltext: Winterthur Technologie AG
Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note:
Dr. Edgar Rappold, delegate and CEO
Markus Brütsch, CFO
Tel. + 41 52 234 41 41
E-Mail: ir@winterthurtechnology.com
Fax: + 41 52 234 41 06
www.winterthurtechnology.com
SWX Ticket Symbol: WTGN
ISIN: CH0021892606
Branche: Technology
ISIN: CH0021892606
WKN: 2189260
Börsen: SWX Swiss Exchange / official market
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