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Schweizer Electronic Posts Preliminary Results for FY 2017
March 22, 2018 | Schweizer Electronic AGEstimated reading time: 2 minutes
According to preliminary unaudited IFRS figures the Schweizer Group was able to boost its annual result 2017 to 3.5 million euro (2016: 0.6 million euro). Besides the operative development, which was better than expected, the partial sale of Schweizer’s stake in Meiko Electronics amounting to 4.0 million euros 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.
At the operative level the company achieved an EBITDA (earnings before interest, taxes, depreciation and amortisation) of 12.5 million euro, which corresponds to a ratio of 10.3%. Due to special effects, this key figure was negatively affected, so that the EBITDA in consideration of the special effects amounted to 9.5 million euro (2016: 9.5 million euro). This corresponds to an EBITDA ratio of 7.8%. The special effects concern legal cost provisions for pending lawsuits as well as extraordinary expenses in connection with the establishment of a new production plant in China.
With sales of 120.9 million euro in the year 2017, the Schweizer Group has achieved its highest Group turnover so far. Reporting an order book increase of 14% to 181.5 million euro (2016: 158.4 million euro), the company is in a very good position for the further development.
The high order income and the good operative results support the growth plans of the company through the construction of a production plant in the province of Jiangsu (China).
Final audited figures for the business year 2017 will be disclosed on April 20, 2018.
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.
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