DGAP-News: Schweizer Electronic presents third quarter figures and reports increasing achievements in the automotive sector and export business

Schweizer Electronic presents third quarter figures and reports increasing achievements in the automotive sector and export business

Schramberg, November 04, 2016 - The successful business development with automotive customers led to an increase of 2.1% to 29.1 million Euro in SCHWEIZER's third quarter turnover (previous year 28.5 million Euro). Sales with this customer segment alone grew by 12.1% to 22.3 million Euro against 19.9 million Euro the year before. The EBITDA (earnings before interest, taxes, depreciation and amortisation) reached the target with a total of 2.9 million Euro, and the margin of 10% was above this year's half year-level of 7.9%, but fell slightly behind last year's third quarter-margin of 12.0 % (3.4 million Euro). The EBIT (earnings before interest and taxes) amounted to 0.9 million Euro (2015: 1.5 million Euro).

Power electronics products showed an outstanding 20%-sales increase in the automotive sector. They are necessary to construct reliable solutions in e-mobility applications, where the effective management of high temperatures and high currents has to be ensured. While the turnover share of the industry sector declined from 21.1% to 16.5%, initial sales could be realised with aviation customers, letting SCHWEIZER report first achievements as regards the envisaged expansion of its customer portfolio. While turnover in Asia doubled to 2.6 million Euro, figures in the European region slightly declined from 24.2 million Euro in 2015 to 23.5 million Euro this year. SCHWEIZER's export ratio, however, increased to 41%. The company's order book grew by 45 million Euro (34%) against last year's third quarter to a total amount of 177.5 million Euro.

Outlook
"Our EBITDA ratio has reached 8.6% in the first nine months of 2016. Currently, we expect our fourth quarter results to be on a similar level as in the third quarter, presuming that no unforeseen factors occur, which will either burden or benefit the results. This means, we could close our accounts of 2016 with an EBITDA ratio of between 9% and 10%, coming up to our forecast from August this year. Due to delays in the Vietnam ramp-up and at WUS, Kunshan, however, we expect our turnover to stay stable, which is in contrast to our August forecast of a 2%-increase", comments Marc Bunz, Chief Financial Officer at Schweizer Electronic AG.

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