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Schweizer Electronic AG
Earnings Release • Mar 26, 2024
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Earnings Release
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Ad-hoc | 26 March 2024 09:03
Schweizer Electronic AG: Preliminary Group figures for the 2023 financial year
Schweizer Electronic AG / Key word(s): Preliminary Results/Annual Results
Schweizer Electronic AG: Preliminary Group figures for the 2023 financial year
26-March-2024 / 09:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Schweizer Electronic AG: Preliminary Group figures for the 2023 financial year
- Turnover increases to EUR 139.4 million
- EBITDA at EUR 47.4 million – high income from deconsolidation
- Outlook for the year 2024 remains positive
Schramberg, March 26, 2024 – The preliminary and unaudited results of the SCHWEIZER Group confirm the major and successfully completed turnaround in 2023. Sales rose to a record of EUR 139.4 million, exceeding expectations with an increase of 6.4 percent. This growth was made possible by a strong fourth quarter.
Gains from the deconsolidation of Schweizer Electronic (Jiangsu) Co., Ltd., China and an operational turnaround in business results led to an EBITDA of EUR 47.4 million (forecast: around EUR 50 million). This confirmed the high profits from the sale of the majority stake in the Chinese unit to WUS Printed Circuit (Kunshan) Co., Ltd., China. Excluding the positive one-off effects of the deconsolidation, EBITDA amounted to EUR 8.9 million (6.4% of sales). This was slightly below the EBITDA forecast of 7 to 9 percent.
Net gearing improved significantly to 64.2% (expectation 50 to 70%), as did the equity ratio, which amounted to 24.3% (previous year -5.5%)
Contrary to the market, SCHWEIZER also expects growth in 2024. We anticipate sales in a range of EUR 140 to 150 million (up to plus 10%), which will be made possible primarily by the start of large-scale production of the embedding technology for applications in automotive hybrid drive systems. This is a market segment that is currently developing very promisingly.
The audited figures as well as a comprehensive overview of the Group’s development in the past financial year 2023 and a detailed forecast for the current financial year will be announced in the context of the publication of the annual report on 29 April 2024 at
https://schweizer.ag/investoren-und-medien/finanzberichte/downloads-berichte.
Explanations to Financial Figures are available at: https://schweizer.ag/en/investors-media/company-key-figures/explanations-financial-figures.
Contact:
Elisabeth Trik
Investor Relations
Phone: +49 7422 512 302
Fax: +49 7422 512 397
End of Inside Information
Information and Explanation of the Issuer to this announcement:
About SCHWEIZER
Schweizer Electronic AG offers the latest, cutting-edge technology and consultancy expertise in the PCB industry. Thanks to its state-of-the-art production facilities in Schramberg, Germany and Jintan, China as well as close partnerships with other technology leaders, SCHWEIZER provides individual PCB & Embedding solutions. SCHWEIZER’s innovative PCB technologies are used in the most demanding applications, for example, in the Automotive, Aviation, Industry & Medical and Communications & Computing sectors, and are characterised by their extremely high quality and energy-saving and environmentally-friendly features.
The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol „SCE“, „ISIN DE 000515623“).
For further information please contact:
Elisabeth Trik
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-302
E-mail: [email protected]
Please visit our website: www.schweizer.ag
26-March-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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 |
| EQS News ID: | 1866935 |
| End of Announcement | EQS News Service |