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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.
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