Feintool International Holding AG (FTON) posted a turnaround in the first half of 2026, with net sales reaching CHF 353.3 million, a 5.6% year‑over‑year increase and constant‑currency growth above 10%. Operating profit (EBIT) improved to CHF 8.8 million, reversing a CHF 1.9 million loss from the comparable period a year earlier, while EBITDA rose 47% to CHF 34 million.
Net income turned positive at CHF 3.2 million, the first such result since 2023, although the financial result remained negative at CHF 4.5 million due to higher interest expense. The equity ratio improved to 55.9%, and cash and cash equivalents grew to CHF 90 million from CHF 82 million at year‑end 2025. Capital expenditure fell sharply to CHF 12.8 million, down from CHF 29 million a year earlier, and net working capital was cut to CHF 91 million from CHF 180 million.
Regional sales showed mixed performance. North America generated CHF 115.5 million, up roughly 13.7% after currency effects, driven by demand for multi‑speed transmissions, hybrid powertrains and data‑center cooling products. Europe posted CHF 203.7 million in sales, a modest 2.1% rise after currency adjustments, supported by restructuring of the electrolamination business and plug‑in hybrid transmission programs. Asia’s sales were flat at CHF 38.5 million, with a 0.1% reported increase after currency effects but a 6.9% rise in local currencies; Japan saw a slight dip while China faced competitive pressure.
The sales mix remained weighted toward internal‑combustion‑engine (ICE) applications, which accounted for 58% of group revenue, with non‑ICE and industrial segments contributing 26% and 16% respectively.
The market reacted positively, with Feintool shares climbing 4.09% to $11.45, near the upper end of their 52‑week range. The company’s market capitalization stands at about $209 million, and the price‑to‑book ratio is 0.38. Management reaffirmed its full‑year 2026 outlook, targeting roughly 4% revenue growth, EBIT margins in line with H1 performance and a significantly positive free cash flow by year‑end. Capital spending is expected to average no more than 5% of net sales over the medium term.
Operational updates included the opening of a new facility in Pune, India, in mid‑June 2026, which secured its first major order for a seat‑recliner program slated for early 2027. A board‑approved investment in a 2,000‑ton servo‑driven forming press was also disclosed. In the United States, the Cincinnati, Ohio plant is set to start production of data‑center cooling fans in November 2026, while German operations are scaling generator cores for AI‑driven data‑center power systems. Production for Volvo’s EX60 electric‑vehicle motor cores is ramping up.
CEO Lars Reich emphasized that the company has completed its restructuring plan and is now positioned to reap the benefits, while CFO Mark Hunsicker highlighted the return to a positive net result as evidence of sustainable profitability.
Looking ahead, Feintool projects earnings per share of $0.12 for fiscal 2026, a swing from the negative $0.69 reported over the prior twelve months.
