Schweizer Electronic Continues to Grow Profitably in Q3

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With cumulative revenues of EUR 88.4 Mio (previous year EUR 83.3 Mio.) and quarterly sales of EUR 28.5 Mio (previous year EUR 28.0 Mio) Schweizer Electronic AG again exceeded previous year’s figures. Operating quarterly results before interest and tax (EBIT) rose faster than turnover by 13.8% to EUR 3.3 Mio (previous year EUR 2.9 Mio). Thus the EBIT margin climbed to 11.6% against 10.4% in the previous year. As before, also the third quarter was affected by negative exchange rate fluctuations amounting to EUR 0.3 Mio in total. Adjusted by this special effect the EBIT would amount to EUR 3.6 Mio corresponding to an EBIT margin of 12.6%. The equity ratio remained stable compared to last year with 59.7% against 59.6% at the end of 2014.

Boosting by 30% to EUR 39.3 Mio against EUR 30.2 Mio the year before, incoming orders were at a particularly high level with customers from the automotive section placing 76% of the new orders, which reflects their usual turnover share. Revenues generated by innovative technology products again grew disproportionately by 14.3% to EUR 14.8 Mio, now making up 52% of Schweizer’s turnover (previous year 46%). Sales with America, notably the US, showed a strong development as well and rose by 81.3% to EUR 2.9 Mio.

“Despite the increasingly challenging market environment we continued our profitable growth and exceeded the targets we had set ourselves,” says Dr. Maren Schweizer, CEO of Schweizer Electronic AG. “Our order book increased again, and the very good level of incoming orders underlines the rising demand for Schweizer’s products. We expect a turnover of EUR 115 Mio for the year 2015, this is a 5% growth against last year. Considering the unscheduled special effects of EUR 1.7 Mio in the first half of 2015 and the anticipated negative currency effects of EUR 0.4 Mio for the second half of 2015, we adjust our profit forecast to EUR 8.0 – 9.0 Mio for the fiscal year 2015. This forecast lies at the upper end of our previous expectations and corresponds to an EBIT margin of 7-8%.”