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Schweizer Electronic Releases Preliminary Group Figures for 1H 2018
July 27, 2018 | Schweizer Electronic AGEstimated reading time: 2 minutes
According to preliminary figures the Schweizer Group achieved an EBITDA (earnings before interest, taxes, depreciation and amortization) of €6.6 million euro (2017: 3.6 million euro) in the first half year 2018. The EBITDA ratio rose to 10.3% (2017: 5.8%). The group result increased to €1.9 million after a loss of €1.1 million in the first half year 2017.
Turnover in the first half year amounted to 63.9 million euro (2017: €61.9 million). The second quarter 2018 was particularly strong with a plus of 8.8% compared to the previous year’s quarter. We expect further growth in the second half year so that the turnover forecast of slightly below €130 million for the fiscal year 2018 is realistic.
Based on the good outcome of the first half year in combination with the forecasted burdens triggered by the setting up of the production site in China, SCHWEIZER now expects an EBITDA of 11 to 12 million euro for the fiscal year 2018 (prior expectation: €10 million). The EBITDA ratio is expected at between 7% and 9%, whereby the upper end of the range is rather achievable. The project for the establishment of a high technology production site in Jintan/China is in the course of implementation. After the signing of the investment agreement the most important authorisations have already been obtained. Financing for the construction phases one and two with a production capacity of 2,400 square metres per working day has also been already secured. This corresponds to double the production capacity of the plant in Schramberg. For the financing two bank consortia were set up in Germany and China, providing credit lines of 120 million US dollar. The construction work will start in August.
Final figures for the first half year 2018 will be disclosed on August 10, 2018.
About Schweizer
Schweizer Electronic AG stands for state-of-the-art technology and consultancy competence. Schweizer’s premium printed circuit boards and innovative solutions and services for automotive, solar, industry and avia- tion electronics address key challenges in the areas of Power Electronics, Embedding and System Cost Reduction. Its products are distinguished for their superior quality and their energy-saving and environmentally- friendly features. Together with its partners WUS Printed Circuit (Kunshan) Co., Ltd., Meiko Electronics Co. Ltd. and Elekonta Marek GmbH & Co. KG the company offers in its division electronics cost- and production- optimised solutions for small, medium and large series. Together with its partner Infineon Technologies AG, Schweizer plans to jointly tap the chip embedding market in future.
With 797 employees; Schweizer achieved sales of 120.9 million euro in fiscal year 2017 (ending December). The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges. For more information, click here.
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