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© sergey balmashov dreamstime.com PCB | November 04, 2016

Schweizer grows in the automotive sector and export business

The company’s business development with automotive customers led to an increase of 2.1% to 29.1 EUR million in Schweizer’s third quarter turnover from Q315’s EUR 28.5 million.
Sales within this customer segment alone grew by 12.1% to EUR 22.3 million against EUR 19.9 million the year before. The EBITDA reached the company’s target with a total of EUR 2.9 million, and the margin of 10% was above this year’s half year-level of 7.9%, but fell slightly behind last year’s third quarter margin of 12.0 % (EUR 3.4 million). The EBIT amounted to EUR 0.9 million (2015: EUR 1.5 million).

Power electronics products showed a 20% sales increase in the automotive sector. While the turnover share of the industry sector declined from 21.1% to 16.5%, initial sales could be realised with aviation customers, letting Schweizer report first achievements as regards the envisaged expansion of its customer portfolio. While turnover in Asia doubled to EUR 2.6 million, figures in the European region slightly declined from EUR 24.2 million in 2015 to EUR 23.5 million this year.

Schweizer export ratio, however, increased to 41%. The company’s order book grew by EUR 45 million (34%) against last year’s third quarter to a total amount of EUR 177.5 million.

“Our EBITDA ratio has reached 8.6% in the first nine months of 2016. Currently, we expect our fourth quarter results to be on a similar level as in the third quarter, presuming that no unforeseen factors occur, which will either burden or benefit the results,” comments Marc Bunz, Chief Financial Officer at Schweizer Electronic AG.

He continues; “This means, we could close our accounts of 2016 with an EBITDA ratio of between 9% and 10%, coming up to our forecast from August this year. Due to delays in the Vietnam ramp-up and at WUS, Kunshan, however, we expect our turnover to stay stable, which is in contrast to our August forecast of a 2%-increase”

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