Had one from Aldi which looks similar. They are not like scissor (tin snip) cutting, more like a nibbler that takes about a 3mm strip out. Handy tool though.
out of interest,
got the Bosch electric nibbler, cutting pin was well worn....ried to buy new Bosch say now unavailable......so removed the pin spun it in the lathe and dressed the cutting edge with a Dremmel and a small stone......
now works great......
if u need a new pin, £30 at www.solenttools.co.uk.....they are good for all things electric hand held.........