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Schweizer Electronic AG
Earnings Release • Aug 10, 2016
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Earnings Release
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News Details
Corporate | 10 August 2016 08:42
Schweizer Electronic AG: again with record order income in the first half year 2016 – Order book increased by 44% to 175.6 million Euro
DGAP-News: Schweizer Electronic AG / Key word(s): Half Year Results
2016-08-10 / 08:42
The issuer is solely responsible for the content of this announcement.
SCHWEIZER again with record order income in the first half year 2016:
Order book increased by 44% to 175.6 million Euro
– Slight seasonal turnover decline by 3%
– Investments of 5.3 million Euro at the Schramberg production site
Schramberg, August 10, 2016 – The SCHWEIZER group again reported a record order income in the first half year 2016 so that the order book achieved a new peak at 175.6 million Euro. Orders for the Asian partners climbed by 56% to 27.2 million Euro, the order book at the Schramberg production site jumped by 42% to 148.4 million Euro. Despite the increasing order income, the turnover decreased slightly by 3.3% compared to previous year’s period and amounted to 58.0 million Euro. Such a fluctuation, however, is not unusual and is rather a seasonal phenomenon than a shift of the basic direction.
Due to the slight turnover decline, the EBITDA (earnings before interest, taxes, depreciation and amortisation) decreased by 0.2 million Euro to 4.6 million Euro. The EBIT (earnings before interest and taxes) amounted to 0.9 million Euro (2015: 1.0 million Euro).
The financial development at SCHWEIZER continues to remain stable, the balance sheet indicators stay on a high level. In the first half year, the company invested 5.3 million Euro at the production site in Schramberg, with a focus on the new combined heat and power plant as well as on technological investments in bottle neck areas. The equity capital declined slightly by 1% against the 2015 year end level to 66.4 million Euro, which is mainly caused by a profit-neutral allocation to pension provisions. Due to a slightly increased balance sheet total, the equity ratio declined to 54.8% against 56.5% on December 31, 2015. With a net gearing of -1.0% (December 31, 2015: -5.1%) SCHWEIZER disposes of a net asset.
The significant jump in order income reflects a progressively forward-looking ordering procedure of customers in particular in the automotive sector, which accounts for 77% of SCHWEIZER’s turnover volume. Germany remains the strongest market. Technologically advanced products and solutions increasingly continue to contribute to SCHWEIZER’s success with the power electronics technologies achieving a particular high growth rate of 31%.
Forecast
The economic environment as well as the growth forecasts have been overcast by the United Kingdom’s potential exit of the European Union. This is likely to affect the German and the European automotive industry as well. However, SCHWEIZER’s turnover and in particular the order book development of the first half year give reason to confirm the spring forecast of 2% turnover increase for the total year 2016.
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 aviation electronics address key challenges in the areas of Power Electronics, Embedding and System Cost Reduction. Its products are distinguished for their superior quality and their energy-saving and environmentally-friendly features. Together with its partners Elekonta Marek GmbH & Co. KG, Meiko Electronics Co. Ltd. and WUS Printed Circuit Co., Ltd., the company offers in its division electronics cost- and production-optimised 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.
With about 770 employees SCHWEIZER achieved sales of 115.6 million euro in Fiscal Year 2015 (ending December). The company was founded in 1849, is managed by family members and listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol “SCE”, “ISIN DE 000515623”).
For further information please contact
Christina Blake
Media & Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-213
Fax: +49 7422 / 512-777-213
E-mail: [email protected]
Please visit our website: www.morethanPCBs.com
2016-08-10 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Schweizer Electronic AG |
| Einsteinstraße 10 | |
| 78713 Schramberg | |
| Germany | |
| Phone: | 07422-512-301 |
| Fax: | 07422-512-397 |
| E-mail: | [email protected] |
| Internet: | www.schweizer.ag |
| ISIN: | DE0005156236 |
| WKN: | 515623 |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| End of News | DGAP News Service |