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© roza-dreamstime.com PCB | February 06, 2013

Results down for Schweizer in 2012

Sales improved during Q4 and improved annual sales up to EUR 100.2 million exceeding Schweizer Electronic AG’s expectations.
Preliminary Figures for the Fiscal Year 2012
  • Best automotive year in the company history
  • Sales and operating result (EBIT) in line with guidance
  • Financial result impacted by value adjustments of shares in Meiko Electronics

Sales with customers in the automotive industry were EUR 65.3 million (previous year EUR 58.7 million), the highest in the company‘s history yet.

In the year 2012 Schweizer achieved an operating result before interest and taxes (EBIT) of EUR 5.2 million (previous year EUR 8.3 million). The result of the fiscal year 2011 was favored by the reversal of various accruals for contingent liabilities of about EUR 1.2 million This special effect did not occur in the reporting period. This fact alone explains nearly 40 % of the decline in results compared to the previous year.

The annual result of EUR 0.7 million was below the results of the previous year (EUR 6.5 million). A devaluation of the share in Meiko Electronics by EUR 2.8 million burdened the financial result. In the meantime, PCB industry experienced a significant and sustained reduction of its evaluation on the capital market. This has led to the fact that the share in Meiko Electronics had to be adjusted to the year-end price of the Meiko share. Thus the share in Meiko has been evaluated with EUR 1.8 million (previously EUR 4.6 million) in our financial assets.

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