The consolidation of Fischer IMF at the start of April 2016 added approximately CHF 10 million to the Group's total income. Net of exchange rate effects, the Adval Tech Group's total income declined by CHF 1.7 million (-1.5%) in the first half of 2016. The two segments' portion of total income remained practically unchanged, with the Components segment accounting for 69% (1H 2015: 68%) and the Molds segment 31% (1H 2015: 32%). 

Total income does not yet reflect revenues from the sale of tools for production of components from the OEM business in Mexico and Hungary for projects currently in the implementation stage (with a volume of roughly EUR 15 million), as these will be posted as sales only upon final invoicing of the order. 

Contracting economic output in countries such as Thailand and Brazil had a negative impact on the Adval Tech Group's total income, as did the strong Swiss franc and the disadvantages in acquisition of new orders that it has entailed.

EBITDA for the first half of 2016 was CHF 10.2 million (1H 2015: CHF 11.3 million), for an EBITDA margin of 9.2%. EBIT for the first half of 2016 was CHF 3.3 million (1H 2015: CHF 4.3 million), for an EBIT margin of 3%. The trend in net result is quite encouraging: from a CHF 2.8 million loss in the first half of 2015 to a profit of CHF 2.2 million. The measures initiated in response to the strengthening of the Swiss franc in 2015 continued to have positive effects in the first half of 2016.

Segment results

In the Components segment (metal and plastic components), total income of CHF 76.5 million was roughly CHF 1 million above the year-back figure of CHF 75.6 million. Net of negative exchange rate effects, a decline of CHF 0.3 million resulted. The acquisition of Fischer IMF, consolidated with the Adval Tech Group since April 2016, contributed approximately CHF 10 million to total income for the Components segment. EBITDA in the amount of CHF 4.5 million (1H 2015: CHF 5.7 million) corresponded to an EBITDA margin of 5.9%. Net of exchange rate effects the EBITDA margin was 5.5%.

The Molds segment generated total income of CHF 35.3 million in the first half of 2016, a decline of CHF 0.5 million from the CHF 35.8 million for the first half of 2015. Net of exchange rate effects the decline amounts to CHF 0.9 million. At CHF 4.7 million, the EBITDA figure for the Molds segment was CHF 0.6 million above the year-back figure of CHF 4.1 million. The EBITDA margin

rose from 11.4% in the first half of 2015 to 13.3% in the first half of 2016. Net of exchange rate effects, the EBITDA margin for the first half of 2016 was 14.3%.

Outlook

With a clear focus on the Components segment, Adval Tech is well positioned to generate sustainable value into the future and to take advantage of the attractive growth opportunities in the global automotive market along with related applications markets. In light of all the planned new product launches as well as new orders to be booked, Adval Tech generally expects a stronger second half in both the Components and Molds segments. Because of the change in initial circumstances due to the acquisition of Fischer IMF and subsequent integration measures as well as the planned divestment of the Molds segment (FOBOHA) during the third quarter of 2016, however, it is extremely difficult to formulate specific result expectations for the second half at this time.