More sales; more profit for Tornos

With targets of aiming for sales growth of around 10 per cent and accompanied by between 7.5 per cent and 8.5 per cent, respectively, the actual figures were almost 15 per cent and over 11 per cent. Gross sales grew to CHF 287.4 million (£146 million), with EBIT at CHF 32.7 million (£16.6 million). The year closed with net profit of CHF 35.1 million (£17.8 million), more than double that of the previous year’s CHF 17.2 million. After the introduction at the beginning of the year of the DECO 10e, aimed at the connector technology market, the EMO European machine tool fair held in September 2007 provided the backdrop for the unveiling of three new machines. The Sigma 32 is an extension of the product line launched in 2005 to complement Tornos’ machine range for high precision parts of average geometric complexity. The Micro 7, designed for the manufacture of watch parts, made its public debut and will be available from the second quarter of 2008. The MultiAlpha 8x20 chucker was presented with an automatic feed and palletisation system for finished parts. The market reaction to all these products has been extremely favourable, says the company. Due to organisational problems, growth in Asia has suffered. Asia’s share of Tornos’ order book for machines fell to 9 per cent compared to 16 per cent in the previous year. In contrast, the commercial alliance signed with Hydromat USA and the restructuring of Tornos Technologies US have borne fruit. Sales of machines in America bounced back to 15 per cent of the total, in comparison with 8 per cent one year ago. Europe and the rest of the world’s share has been stable at 76 per cent of the total for the last two years.