Schweizer Electronic Reports Strong 1H18 Results

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The Schweizer Group closed the first half year 2018 with a turnover growth to EUR63.9 million (2017: EUR61.9 million). The EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped to 6.6 million euro (2017: EUR3.6 million), and the EBITDA ratio increased to 10.3% (2017: 5.8%) in the first half year 2018. The Group EBIT (earnings before interest and taxes) amounted to EUR2.8 million (2017: -EUR0.4 million) and thus improved by EUR3.2 million against last year’s period. The group result rose to EUR1.9 million after a loss of EUR1.1 million in the first half year 2017.

The worldwide demand for passive components increased significantly over the last months and has already led to delayed customer call-offs also by Schweizer customers. Despite these bottlenecks concerning passive components, our sales with automotive customers increased by EUR0.8 million to EUR44.1 million. Sales with industry customers grew by 7.7% or EUR1.1 million to EUR15.3 million. Total turnover in the second quarter 2018 was particularly strong at Schweizer 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 EUR130 million for the fiscal year 2018 is realistic.

Schweizer has established itself as indispensable specialist for power electronics and sensors and thus is a vital partner for its automotive customers when it comes to a cystotomies and reliable implementation of solutions in the field of electro mobility and CO2 efficiency as well as autonomous driving. Also, for customers from industry electronics our technologies play an increasingly important role, so we could benefit from the favorable development in these market segments as well in the first half year 2018. This is impressively reflected by our order income which boosted by almost 20% against previous year’s level to EUR76.7 million. Therefore, our order book increased to EUR185.1 million by June 30, 2018 (2017: EUR160.5 million). Orders amounting to about EUR60 million are still to be delivered in 2018, while the order book for 2019 already amounts to more than EUR100 million. The strong demand of customers from the automotive sector followed by applications form industry electronics continues unabated. 

“The current delay of customer call-offs triggered by the bottleneck concerning passive components certainly dampens the outlook. However, Schweizer’s actual order book shows that our turnover target of slightly below EUR130 million for 2018 is realistic, so that we continue to expect the turnover growth of 6% to 8%. 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, we also confirm our expectation for the EBITDA of EUR11 million to EUR12 million for the fiscal year 2018 (prior expectation: EUR10 million). The EBITDA ratio is expected at between 7% and 9%, whereby the upper end of the range is rather achievable,” said Marc Bunz, chief financial officer of Schweizer Electronic AG.

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 Re- duction. 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- optimized 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.