Successful start of the year for lathes

During the first quarter of 2011, the Tornos group has received orders for a total of 78.4 million Swiss francs (around EUR 63.2 million approximately) reflecting an increase of 80.6 per cent over the same period of last year (43.4 million Swiss francs)(, about 35 million euros). All markets showed an economic environment promising and lathes has benefited so much investment of replacement as enlargement investment clients. The industrial sectors which have generated a particularly dynamic commercial activity has been that of Swiss watchmaking, the medical and the automotive industry in the countries of southern Europe. All geographical regions contributed to the strong growth in new orders, but Switzerland and the countries of southern Europe, where traditionally lathes is firmly established, have considerably exceeded expectations.

Good order intake in the first quarter will make it possible to achieve an increase in the volume of business during the second quarter of 2011. On condition that the economic environment remain stable throughout the year and that the exchange rates do not change significantly, lathes relies on confirmation of the good prospects to the year 2011 with a turnover of gross of about 250-300 million francs (from 200 to 250 million euros) and an EBIT margin of between 5 and 8 per cent. However, from lathes ensures that the challenge will be to receive deliveries of parts and components from suppliers within the agreed deadlines, to allow the Assembly and delivery of machines according to production plan.