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Schweizer Electronic Reports Significant Positive Growth for 2021
June 28, 2021 | Schweizer Electronic AGEstimated reading time: 1 minute
This year's Annual General Meeting of Schweizer Electronic AG was once again held digitally due to the coronavirus. In total, 71 percent of the registered share capital of Schweizer Electronic AG was represented.
Financial year 2020 / outlook
In their speeches, CEO Nicolas Schweizer and CFO Marc Bunz looked back on a challenging 2020. In addition to the coronavirus-related economic downturn, the transformation within the largest customer segment "Automotive" and the implementation of a comprehensive cost reduction programme at the Schramberg site, SCHWEIZER was able to accomplish the start-up of the new high-tech plant in China.
Chairman of the Executive Board Nicolas Schweizer looked to the future and underlined the Group's growth and globalisation strategy that has already been adopted. With more than 1,000 employees, two high-tech plants, a strong partner network and an innovative product portfolio, the Group is very well positioned for current and future topics, such as the change in mobility and the technological challenges to achieve climate goals.
Nicolas Schweizer also reported on the establishment of a new sales company in the USA and emphasised SCHWEIZER's increasingly global position as a basis for growth opportunities.
CFO Marc Bunz also reported in detail on the Group's development in the first quarter of 2021. In addition to a recovery of the order and sales situation to pre-crisis levels, the main points in the first quarter were the burden on the income situation due to the planned start-up losses of the new plant in China and the successful turnaround at the Schramberg site.
The Executive Board conveyed special thanks to those employees whose commitment and flexibility have contributed to the stability of the company.
Agreement on all agenda items
The Annual General Meeting expressed its trust in both the members of the Executive Board and the Supervisory Board for the 2020 financial year. In addition, Dr Stefan Krauss newly elected to the Supervisory Board by the Annual General Meeting. The shareholders also agreed on all other agenda items by clear majority.
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