Pleasing results in a very challenging economic environment

Strong order book

In the third quarter of 2011, the Tornos Group received orders worth CHF 59.2 m, an increase of 17.7% year-on-year (2010: CHF 50.4 million). Owing to the usual seasonal impact of the summer holiday period, the level of new orders received in the third quarter was lower than that in the two preceding quarters. EMO, the most important machine-tool trade fair in our industry, was held in September in Hanover. The new products we presented there met with great interest from customers and numerous orders were placed during the fair. This was particularly the case for our new revolutionary MultiSwiss multispindle lathe which made its world debut at EMO.

In the first nine months of 2011, the cumulative order intake was CHF 216.4 million, up 47.2% on the same period last year (2010: CHF 147.0 million).