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Schweizer Electronic AG: Preliminary Group Figures for 2022 and Outlook for the Year 2023
April 12, 2023 | Schweizer Electronic AGEstimated reading time: 1 minute

Based on preliminary and as yet unaudited figures, the SCHWEIZER Group achieved consolidated revenues of 131.0 million Euro for the 2022 financial year. This corresponds to an increase of 6.8% compared to the previous year (forecast: +5% to +10%).
The EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to -12.3 million Euro, which corresponds to a rate of -9.4% (forecast: -4% to -8%) and was thus below our expectations. The start-up losses of the Chinese subsidiary and the overall increase in energy and material prices, especially in Germany, had a particularly negative impact on the result.
Equity decreased to -8.8 million Euro, which corresponds to an equity ratio of -5.5% (31.12.2021: +5.3%), mainly due to the negative consolidated result. Thus, the forecast equity ratio in a range of 6% to 11% could not be achieved. The forecast was made sub-ject to the entry of a new investor in Schweizer Electronic in China by the end of the year. As reported, the investor WUS Printed Circuit (Kunshan) Co., Ltd, based in China, signed a Share Transfer agreement for the majority takeover of Schweizer China on 22 December 2022, but it will only become effective in 2023 after approval by the share-holders' meeting of WUS. Thus, the signing of the purchase agreement in 2022 did not yet have a positive effect on equity.
Compared to the previous year, the consolidated result decreased by EUR -7.3 million to EUR -33.5 million Euro (2021: EUR -26.2 million).
The fact that SCHWEIZER is in the phase of implementing the majority sale of the Chinese unit Schweizer Electronic (Jiangsu) Co., Ltd. has a significant influence on the forecast for 2023. The forecast assumes that the contract with the investor WUS Printed Circuit (Kunshan) Co., Ltd. will be closed in April 2023. Under this assumption, revenue growth of between +5% and +10% compared to the 2022 financial year and an EBITDA ratio of between +4% and +6% are expected. Due to the deconsolidation of the Chinese unit, the management expects to close the 2023 financial year with a Group equity ratio of between +25% and +30%.
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