The share of orders from the automotive industry decreased significantly for Tornos in the reporting period - from 16.2% in the first half of 2022 to 9.5% in the first half of 2023. Significant increase in orders in the electronics industry EBIT 2) for the first half of 2023 amounted to CHF 8.0 million (first half of 2022: CHF 8.8 million, or CHF 4.2 million excluding the special effect from the writeback of value adjustment provisions). Overall, Tornos generated order intake of CHF 79.7 million in the first half of 2023 (first half of 2022: CHF 98.3 million, -18.9%) and net sales of CHF 95.7 million (first half of 2022: CHF 93.7 million, +2.2%). On a positive note, demand for Tornos products increased noticeably again towards the end of the half- year.

This led to a decline in order intake, particularly in the USA and Europe. With regard to new investments on the customer side, the Tornos Group felt significant uncertainty in some sales markets, which was reflected in various project postponements. A comparison of the result for this half- year with the adjusted EBIT 2) for the first half of 2022 (excluding the special effect from the writeback of value adjustment provisions) shows a marked improvement. EBIT 2) decreased slightly in absolute terms. Compared to the first half of 2022, the Group again achieved a slight increase in sales in the first half of 2023.

The Tornos Group has started 2023 with a record high order backlog. Significantly more orders from the electronics industry Tornos posts marked improvement in operating result Report on the first half of 2023 for the Tornos Group:

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