From the Sector

RINCO ULTRASONICS is strengthening its market presence in Central America – a significant market for the automotive supply industry – by opening its own subsidiary in Mexico.

Romanshorn, May 2021 – With the establishment of its eleventh global subsidiary and its first in Central America, RINCO ULTRASONICS is highlighting the importance of the Central American market. “The automotive supply industry is one of the strongest sectors of industry in Mexico and one of the most important markets for RINCO. Our subsidiary in Querétaro, which is located 200 km away from Mexico City, will bring us closer to customers and partners alike,” explains Serge Patamia, CEO of RINCO ULTRASONICS. “We already enjoy high levels of confidence from both customers and partners in the region, and local presence will only serve to improve this. Investing in a dedicated subsidiary underlines our commitment to the market in Central America.”

José Armando Vázquez, the newly appointed country manager for Mexico, brings both passion and specialist expertise to his role. Having grown up in the automotive industry, Vazquez knows the needs and requirements of the supplying industry and the plastics sector inside out.

In José Armando Vázquez, customers and interested parties in Mexico have a local point of contact who is bringing Swiss perfection to Querétaro in the form of RINCO ULTRASONICS MEXICO. In addition to sales, RINCO in Mexico also offers technical services such as an application-based test laboratory and various service facilities to promote the building of partnerships and the delivery of new projects.
“Our aim is to captivate users with our ultrasonic technology and offer them tangible added value so that by using solutions like our AGM Pro ultrasonic generator, for example, they can save time and user fewer materials,”, says Serge Patamia, summarising what customers in Central America can expect.

• Group sales in the first quarter 2021 of €241.5 million, down 2% below prior year (currency adjusted on prior year level)
• Expected positive impact from a contract termination with a customer of reporting segment Graphite Solutions contributes around €9 million to sales and earnings
• Transformation program proceeds according to plan in all areas
• EBITDA pre of €33.0 million significantly higher year-on-year (Q1/2020 €29.0 million), EBIT increases to €17.0 million (Q1/2020 €6.4 million)
• Positive net result at €6.1 million (Q1/2020 minus €4.3 million)
• Liquidity at €168.6 million also developed positively (year-end 2020 €141.8 million)
• Net financial debt decreases by 5% to €271.5 million (year-end 2020 €286.5 million)
• Equity ratio increases to 20.4% (Year-end 2020 17.5%)
• Outlook for fiscal year 2021 fully confirmed

See attached document for more information.