20.04.2018
Schweizer Electronic AG DE0005156236
DGAP-News: Schweizer Electronic AG: SCHWEIZER confirms record sales for Fiscal Year 2017
DGAP-News: Schweizer Electronic AG / Key word(s): Final Results
Schweizer Electronic AG: SCHWEIZER confirms record sales for Fiscal Year
2017
20.04.2018 / 09:15
The issuer is solely responsible for the content of this announcement.
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SCHWEIZER confirms record sales for Fiscal Year 2017
* Turnover rises to 120.9 million euro
* Order book at record level with 181.5 million euro
* Annual result increases to 3.5 million euro
Schramberg, April 20, 2018 - The SCHWEIZER Group closed the accounts in 2017
with a record turnover of 120.9 million euro (2016: 116.1 million euro). The
growth of 4.2 percent was due to a record production volume of 109.6 million
euro from the production site in Schramberg. The final group EBITDA
(earnings before interest, taxes, depreciation and amortisation) amounts to
8.4 million euro (2016: 9.5 million euro), corresponding to an EBITDA margin
of 7.0 percent against 8.2 percent the year before. The group EBIT (earnings
before interest and taxes) amounts to 0.3 million euro (2016: 1.8 million
euro) and corresponds to an EBIT margin of 0.3 percent (2016: 1.6 percent).
In the light of the comprehensive investments into the new high technology
plant in China, SCHWEIZER's Supervisory and Executive Boards will suggest a
dividend of 0.30 euro on occasion of the forthcoming Annual General Meeting
on June 29, 2018.
Different special effects had a negative as well a positive impact on the
business figures respectively. On the one hand, the EBITDA was affected by
legal cost provisions of 2.5 million euro and extraordinary expenses of 0.5
million euro for the preparation of the setup of the new production plant in
China. Without these special effects of in total 3.0 million euro, the
EBITDA would amount to 11.4 million euro, corresponding to an EBITDA margin
of 9.4 percent. Since all special effects had a corresponding impact on the
EBIT as well, the EBIT before special effects would amount to 3.3 million
euro, which is equivalent to an EBIT margin of 2.8 percent.
On the other hand, proceeds from the partial sale of SCHWEIZER's stake in
Meiko Electronics had a positive impact on the financial income. In the
fourth quarter of the year 2017 SCHWEIZER and Meiko Electronics had agreed
on a reduction of their mutual shareholding. The partial sale of the shares
has no impact on the continuing successful cooperation of the two companies.
Considering all special effects, the annual result 2017 would have amounted
to 2.5 million euro.
SCHWEIZER's positive turnover development was in particular due to the
record production volume from the Schramberg production site. Various
measures to eliminate bottleneck areas, focussed investments into new
production technologies, such as the new laser direct imaging equipment, as
well as further process optimisations allowed for an output increase of 6.2
percent in Schramberg. In this context, the turnover share of high
technology products from the fields of power electronics, embedding and
system cost reduction, which are mainly used for applications of autonomous
driving and electro mobility, increased again. These high technology
products meanwhile account for 58 percent of our turnover.
The turnover share with customers of the industry sector increased
significantly by 34.3 percent to 28.2 million euro (2016: 21.0 million
euro). It comprises in particular solutions for automation, detection,
robotics, metrology and sensor technology for cutting-edge industry plants
as well as sales with customers from aviation. Customer from the industry
sector now account for almost a quarter of our yearly sales, and we intend
to expand this in future. This is also our intention for the areas of
consumer, communication and computing, where sales increased by 22 percent
to 8.9 million euro. Both achievements are important for an optimised
customer portfolio management. The automotive sector again represented
SCHWEIZERs largest customer group with sales of 83.8 million euro and
accounted for about 70 percent of the total turnover (2016: 76 percent).
The company's equity capital increased slightly to 62.3 million euro as of
the balance sheet date. This corresponds to an equity ratio of 54.9 percent
(December 31, 2016: 52.8 percent). Net gearing was -6.5 % compared to -1.5
percent in 2016.
Outlook for 2018
Due to the overall positive economic conditions paired with the automotive
sector's technological focus areas where SCHWEIZER has its strengths,
further positive growth impulses are to be expected. SCHWEIZER's production
solutions serve the megatrends autonomous driving, fuel efficiency as well
as electrification / hybridisation of motor vehicles. Demand for such
technologies will strongly increase over the next years and ensure further
growth impulses also in the current business, triggering rising sales with
the automotive sector. Furthermore, we expect turnover increases with
customers from the industry and aviation sector.
"Our order book which increased again to 181.5 million euro by the end of
last year puts us into a very good position", comments Marc Bunz, Chief
Financial Officer of Schweizer Electronic AG. "For 2018 we expect the group
turnover to increase by 6 to 8 percent, which will be the highest increase
in the last four years. The start-up costs for the new site in China,
however, will burden our results. Nevertheless, from today's perspective we
expect an EBITDA margin of 7 to 9 percent for the year 2018. This
corresponds to an EBITDA of about 10 million euro."
The annual report for the year 2017 is available on
http://www.schweizer.ag/de/investorrelations/finanzberichte.html. An English
version of this report will be available soon.
Key Figures Schweizer Group
in million euro 2017 2016 Change
Order income 144.0 125.4 +18.6
Order book 181.5 158.4 +23.1
Turnover 120.9 116.1 +4.8
EBITDA 8.4 9.5 -1.1
EBITDA margin (%) 7.0 8.2
EBIT 0.3 1.8 -1.5
EBIT margin (%) 0.3 1.6
Earnings after taxes 3.5 0.6 +2.8
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 avia-
tion electronics address key challenges in the areas of Power Electronics,
Embedding and System Cost Re- duction. 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.
With 797 employees SCHWEIZER achieved sales of 120.9 million euro in Fiscal
Year 2017 (ending December). 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:
Christina Blake
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
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20.04.2018 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.
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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
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