DGAP-News: Schweizer Electronic confirms result despite decrease in sales compared to Forecast
(firmenpresse) - DGAP-News: Schweizer Electronic AG / Key word(s): Interim Report
Schweizer Electronic confirms result despite decrease in sales
compared to Forecast
11.11.2011 / 10:20
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Schramberg, November 11, 2011 - Schweizer Electronic AG today announced
their financial figures for the third quarter 2011. Within this period the
company could achieve sales revenues of 25.6 (previous year 28.1) million
Euro. Thus sales of the first three quarters 2011 were at 83.7 (previous
year 78.8) million Euro and were therefore 6,2 % above the comparison
period. Despite higher sales in comparison to the first nine months 2010
SCHWEIZER could not quite achieve their sales target.
In the third quarter the company achieved - despite declining sales - an
EBIT of 2.6 (previous year 4.1) million Euro. This corresponds to an
EBIT-Margin of 10.2 % for the third quarter and was thus above
expectations. EBIT for the first nine months in 2011 was 8.3 (previous year
before special effects 9.9) million Euro. This decline is attributed to
increasing cost for material and personnel. Consequently SCHWEIZER has
lowered the number of temporary staff according to current requirements.
Since mid of 2009 SCHWEIZER was able to further improve their balance sheet
structure. On September 30, 2011 equity capital was 42.7 million Euro and
thus significantly above the previous year's value of 26.5 million Euro.
Accordingly, equity ratio increased to 55 % (previous year 41 %). Net
gearing could be reduced to below zero. Therefore liquid assets were higher
than all of SCHWEIZER's interest-bearing liabilities at the end of the
quarter.
'These indicators are an important basis for our financial stability, even
in longer and more difficult economic cycles', comments Dr. Marc Schweizer,
CEO of Schweizer Electronic AG. 'They equally open up an excellent starting
basis for forward-looking targeted investments into innovations and
improved technologies in the area of Printed Circuit Boards (PCB), the
integration of components within the context of Schweizer Systems as well
as our diversification with Schweizer Energy.'
SCHWEIZER continues their strategy and focuses further on the growth region
Asia as a complement to Europe. The company mainly concentrates on the
expansion of the PCB business as well the diversification by establishing
new business areas. These include the creation of the business division
Schweizer Systems, based on Embedding Technologies (integration of
components into the PCB) and Schweizer Energy in the areas of energy
creation, sales and storage in Asia.
Based on the continuing insecurities of the global economic development,
the company adjusts its sales forecast for fiscal year 2011 and expects
sales revenues on previous year's level of about 105 million Euro. Despite
lower sales growth, SCHWEIZER confirms their EBIT forecast on a level of 10
million Euro to 11 million Euro for fiscal year 2011. This corresponds to
an expected EBIT-margin of about 10 %, which is at the upper end of the
forecast corridor. This takes into consideration all expenses for the
development of the new business areas.
About Schweizer:
Schweizer Electronic AG is a leading manufacturer of premium PCBs,
innovative solutions and services for automotive, solar and industry
electronics. Based on recognized technology and consultancy competencies,
SCHWEIZER's products and systems address central challenges in the areas of
Power Electronics, Embedding and System Cost Reduction and are
characterized by energy and environmentally friendly features. Together
with its partners Contag GmbH and Meiko Electronics Co. Ltd. the company
offers cost and production optimised solutions for small, medium and large
series and within this network employs more than 13.000 people in Germany,
Japan, China and Vietnam.
With about 750 employees SCHWEIZER achieved sales of 105.4 million Euro in
Fiscal Year 2010 (ending December). The company was founded in 1849, is
managed by family members and listed at the Stuttgart Stock Exchange
(ticker symbol 'SCE', 'ISIN DE 000515623').
For further information please contact
Susanne Schorn
Media&Communications
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-213
Fax: +49 7422 / 512-397
E-mail: Communications(at)schweizer.ag
Please visit our website: www.morethanPCBs.com
End of Corporate News
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11.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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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: ir(at)schweizerelectronic.ag
Internet: www.schweizerelectronic.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulierter Markt in Frankfurt (General Standard),
Stuttgart; Freiverkehr in Berlin
End of News DGAP News-Service
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145898 11.11.2011
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Datum: 11.11.2011 - 10:20 Uhr
Sprache: Deutsch
News-ID 86861
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