DGAP-News: Schweizer Electronic AG
/ Key word(s): Quarterly / Interim Statement
Schweizer Electronic AG:
- Positive development in the third quarter of 2019
- Cost-cutting programme gradually shows a stronger effect
- Forecast confirmed for the 2019 fiscal year
The positive momentum with customers in the automotive sector has increased significantly over the past two quarters. Compared to the previous year, turnover from the most important customer segment for SCHWEIZER rose by 5.3 percent to 71.2 million euros, representing 75.5 percent of turnover. The pronounced macroeconomic weakness in Europe was reflected in a shift within the sales regions. The share of exports to Asia and America rose to over 21 percent of total turnover. By contrast, Europe, including Germany, lost significance. However, with a 79-percent share of turnover, Europe remains the most important sales region for SCHWEIZER. Turnover generated via our Asian partner network rose by 59.7 percent to 27.9 million euros in the first three quarters (2018: 17.4 million euros). In contrast, turnover from our in-house production in Schramberg was a less positive development, totalling 66.4 million euros (2018: 79.3 million euros).
Incoming orders in the third quarter reached their highest level in the current reporting year. At 30.3 million euros, they were as high as in the first half year as a whole. The order book at the end of the third quarter amounted to 140.2 million euros (2018: 169.2 million euros).
Earnings significantly improved despite burdens from China
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to 1.9 million euros in the third quarter (2018: 2.7 million euros). An EBITDA of 2.9 million euros or 3.1 percent was thus achieved in the first three quarters.
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 WUS Printed Circuit (Kunshan) Co., Ltd., Meiko Electronics Co. Ltd. and Elekonta Marek GmbH & Co. KG 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.
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").
07.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Schweizer Electronic AG|
|Listed:||Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange|
|EQS News ID:||906201|
|End of News||DGAP News Service|