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Schweizer Electronic shows considerable improvement in 2008

In 2008, Schweizer Electronic succeeded in not only developing sales volumes (up by 5% compared to the prior year), but also succeeded in strengthening productivity and qualitative growth, despite unfavourable economic conditions during the second half-year.


Highlights from 2008 • 5% increase in turnover in the 2008 financial year – despite fourth quarter sales crisis • Industrial sales doubled • Photovoltaic sales up 300% • 90% of sales growth achieved in high-value circuit board technologies • EBIDTA margin before special effects: +7,4% in 2008 after –1,2% in the prior year • Liquidity over EUR 23 mln. • Non-recurring items and provisions for further cost reduction measures burden the 2008 result • 11% increase in new orders in 2008 Successful Turnaround In the first instance, the portfolio measures led to a strengthening of Schweizer Electronic. Industrial electronics sales rose by 113% to EUR 30.7 mln compared to the prior year. The largest portion of this development was due to photovoltaic sales. As a result, the ratio of automotives reduced to 57% in the overall turnover (prior year: 67%). In addition, the subsequently realised restructuring and cost reduction measures had a positive effect. Schweizer Electronic increased the productivity of its personnel by 10%, achieved clear savings in other operating expenses and consolidated its German production capacities earlier than planned. The first three quarters were characterised by a steady improvement in revenues. The operating result was thus above expectations. Effects of Economic Crisis put Dampener on Fourth Quarter The economic crisis also had a negative effect on Schweizer Electronic in its fourth quarter results, despite a rapid implementation of counter-measures. These included shortened working hours since the 1st of November 2008. Schweizer Electronic in 2009 Schweizer Electronic will continue to implement its strategic plan unabated: • Expanding product lines by sourcing supplies from low-cost countries • Developing and strengthening the professional resources in sales • Own distribution channels for major customers in automotives and industrial electronics as well as customers in small and medium-sized business • Further developing innovative solutions such as an RFID-based measuring instrument for temperature monitoring in sensitive application areas (incl. blood products). Schweizer Electronic has a robust balance sheet structure with an equity ratio of 33% as well as a debt ratio of 2.0. Liquidity of EUR 23.1 million consists of cash funds and unutilised lines of credit. Neither the complete, mint-condition machinery, nor the industrytypical high level of receivables, is financed by leasing or factoring. Supplier invoices are, in principle, discounted.

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March 28 2024 10:16 am V22.4.20-1
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