Feintool International (FTON) H2 2025 earnings summary

Executive summary

• Group sales for 2025 were CHF 661.4 million, down 8% year-over-year, with non-automotive business accounting for 15.7% of sales.

• EBIT improved to CHF 4.7 million from an adjusted -CHF 2.2 million in the prior year, reflecting successful restructuring and cost measures.

• Net loss narrowed to CHF 8 million from nearly CHF 50 million last year, impacted by a financial result of -CHF 10.8 million.

• Strategic focus on core technologies, regional diversification, and expansion in electric mobility and renewable energy enhanced resilience and market positioning.

• Restructuring and footprint optimization in Europe completed, reducing break-even level and expected to deliver CHF 12 million annual savings from 2026.

Financial highlights

• EBITDA increased to CHF 56.6 million from CHF 51.9 million, driven by cost control and improved product mix.

• Net debt rose to CHF 57.7 million, up from CHF 42.7 million the previous year.

• Operational cash flow was positive at CHF 27 million, with free cash flow nearly neutral after CHF 55.7 million in investments.

• Total assets decreased to CHF 770.5 million, mainly due to reductions in receivables, inventories, and non-current assets.

• Material cost ratio improved to 47% from 52%, and personnel costs decreased by CHF 6.6 million.

Outlook and guidance

• 2026 outlook remains cautious, with continued challenges in Europe but positive momentum in the US and Asia.

• Further EBIT margin improvement and reduced capital spending expected in 2026, with new large-volume programs starting.

• Mid-term EBIT margin target above 6% reaffirmed.

• No dividend proposed for 2025 due to earnings situation.

• Structural shifts toward Asia to intensify, with new Indian plant strengthening positioning.