-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
exceet Releases Q1 2022 Results
May 10, 2022 | exceetEstimated reading time: 2 minutes
After the sale of exceet Secure Solution GmbH and GS Swiss PCB AG in 2021 the remaining operating business of Lucom GmbH Elektrokomponenten und Systeme, which is still for sale, is disclosed as Discontinued Operations. Continued operations are only related to the Corporate Business, which comprises the holding companies with its administrative costs. exceet is currently evaluating various strategic options with regard to its future.
The continued operating result of exceet represents the holding costs. These costs amount in Q1 2022 to EUR -0.8 million (Q1 2021: EUR -0.5 million). The increase is related to one-off costs in an amount of EUR 0.5 million still related to the sale of business in 2021. The financial results comprises administrative costs for the cash deposits in Q1 2022 about EUR -0.2 million (Q1 2021: EUR 0.0 million) and FX results for this period about EUR -0.1 million (Q1 2021: EUR 0.2 million).
The profit of the discontinued business in Q1 2022 amounts to EUR 0,1 million, compared to EUR1.8 million in Q1 2021 (Q1 2021 still includes GS Swiss PCB AG and exceet Secure Solutions GmbH).
The balance sheet positions are significantly influenced by the the discontinued operation disclosure of the remaining operating company.
As of 31 March 2022, the total assets of exceet Group amounted to EUR 118.9 million, compared to EUR 122.5 million as of 31 December 2021.
The non-current assets amounted to EUR 1.0 million (31.12.2021: EUR 0.7 million) and increased by EUR 0.3 million due to financial investments.
Current assets amounted to EUR 117.9 million, compared to EUR 121.8 million at year-end 2021. The decrease of the current assets of EUR 3.9 million reflects the decrease of the Cash position. Assets classified as held for sale amounts to EUR 4.7 million, compared to EUR 4.3 million at year- end 2021. The position includes non-current assets of EUR 3.1 million (31.12.2021: EUR 3.2 million) and current assets of EUR 1.6 million (31.12.2021: EUR 1.1 million).
At the end of the reporting period, exceet Group’s equity amounted, to EUR 117.1 million, against EUR 118.2 million as of 31 December 2021. This represents an equity ratio1) of 98.5% (31.12.2021: 96.5%).
The non-current liabilities include minor amounts.
The decrease of the current liabilities by EUR 2.5 million to EUR 1.8 million as of 31 March 2022 (31.12.2021: EUR 4.3 million) is mainly due to the decrease of other current liabilities of EUR 2,3 million and decrease of derivate financial instruments of EUR 0,7 million. Liabilities directly associated with assets classified as held for sale amounts to EUR 1.1 million (31.12.2021: EUR 0.8 million). The position includes non-current liabilities of EUR 0.4 million (31.12.2021: EUR 0.4 million) and current liabilities of EUR 0.7 million (31.12.2021: EUR 0.4 million).
Outlook
exceet started the financial year 2022 without continued operating business.
While GS Swiss PCB AG and exceet Secure Solutions GmbH have been divested in 2021, Lucom GmbH Elektronikkomponenten und Systeme is still classified as discontinued operations (assets held for Sale). A structured sales process started and depending on the demand a sale is expected during 2022.
Currently the operating result 2022 (EBIT) is dependent on the administrative costs for the holding companies and significantly from contributions of any new investments in 2022. The overall performance of the exceet Group (including discontinued operations) will be affected by the operative performance of Lucom GmbH Elektronikkomponenten und Systeme until divestment plus the potential gain of its divestment.
Due to the high cash reserve from the divestments, exceet is currently enforced to pay administrative expenses to the banks, which will increase the interest expenses and impact the net result.
The continued business currently comprises only the holding companies. For these companies exceet Group plans a loss of about EUR 1.5 million without costs related to planned investments and divestments.
Suggested Items
TTM Technologies Reports First Quarter 2024 Results
05/02/2024 | TTM TechnologiesTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards , reported results for the first quarter 2024, which ended on April 1, 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
Celestica Announces Q1 2024 Financial Results
05/01/2024 | CelesticaCelestica Inc., a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2024 (Q1 2024).
NASA’s Optical Comms Demo Transmits Data Over 140 Million Miles
04/30/2024 | NASA JPLNASA’s Deep Space Optical Communications experiment also interfaced with the Psyche spacecraft’s communication system for the first time, transmitting engineering data to Earth.
Plexus Announces Fiscal Q2 Financial Results
04/30/2024 | Plexus Corp.Plexus Corp. announced financial results for our fiscal second quarter ended March 30, 2024, and guidance for our fiscal third quarter ending June 29, 2024.