SCHWEIZER Posts Adjusted Outlook for 2024
July 15, 2024 | SCHWEIZEREstimated reading time: 1 minute
Based on the preliminary financial results of the SCHWEIZER Group for the first half of 2024, the Executive Board has adjusted the forecast for the 2024 financial year.
The sales forecast of EUR 140 to 150 million can be maintained unchanged due to the successful start of large-scale production of the embedding technology. The technology, which is used in hybrid drive vehicles, is benefiting significantly from the weak de-mand for battery electric vehicles.
On the other hand, SCHWEIZER is affected by the current difficult overall economic situation in the German economy, particularly in the German automotive industry. As a result, capacity utilization at the plant in Schramberg (Germany) has deteriorated noticeably. As a result, we expect EBITDA (earnings before interest, taxes, depreciation and amortization) of EUR 2 to 5 million (previously EUR 10 to 11 million) for 2024. Although the trading business with our Asian partners is developing positively, these earnings contributions could not fully compensate for the losses at the German plant.
The weaker earnings forecast also has an impact on the expected equity ratio. We are now forecasting an equity ratio of 20 to 25 percent (previously 25 to 28 percent).
The management has immediately initiated a program to improve earnings in order to take account of the capacity utilization situation at the plant in Schramberg. We expect the measures to begin to take effect in the coming months.
The Executive Board expects sales revenue of around EUR 74 million for the first half of 2024 (H1 2023: EUR 68.7 million). The calculation of the other key figures has not yet been finalized. However, due to the weak second quarter, it can be expected that EBITDA will amount to EUR 0 to 1 million for the first half of the year.
Suggested Items
Kimball Electronics Announces Annual Meeting of Share Owners
09/27/2024 | BUSINESS WIREKimball Electronics, Inc. announced the Company will hold its Annual Meeting of Share Owners on Friday, November 15, 2024, at 10:00 a.m. (EST).
Amphenol Trackwise to Exhibit at electronica 2024
09/27/2024 | Amphenol TrackwiseAmphenol Trackwise Designs ltd will be exhibiting their weight and space saving, patented manufacturing process, Improved Harness Technology™ (IHT) at Electronica 2024, Munich from 12-15 November.
Curtiss-Wright, Westinghouse Sign Memorandum of Understanding to Support AP1000 and AP300 Projects in Canada
09/27/2024 | Curtiss-Wright CorporationCurtiss-Wright’s Nuclear Division and Westinghouse Electric Company announced today that they have signed a Memorandum of Understanding (MoU) to support AP1000® and AP300™ projects in Canada.
TTM Technologies Wins Cisco 2024 Supply Chain Security Champion Award
09/26/2024 | Globe NewswireTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies and printed circuit boards (PCBs), announced it has received Cisco’s 2024 Supply Chain Security Champion award.
TTM Technologies Unveils Xinger® Ultra Wide Band Balun Transformers for Efficient Signal Conversion Across Markets
09/25/2024 | TTM Technologies, Inc.TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies and printed circuit boards (“PCB”s) is introducing its ultra-compact, low-profile broadband balanced to unbalanced transformers, the XMB0220K1-50100G and XMB0465Z1-50100G.