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PCB | January 21, 2009

Schweizer Electronic defies economic crisis

Schweizer Electronic reported for 2008 a turnover of around €83 million; 5% more than in the previous fiscal year. However, the economic slowdown during the 4Q also had an affect on the result, which was estimated to reach 15% until the 3Q/2008.
In particular, customers in the automotive electronics sector significantly reduced their orders. By contrast, the PCB manufacturer was able to more than double the sales in the segment Industrial Electronics in 2008.

The operating profit - before restructuring-related special effects - is above the margin from the previous year; which can be attributed not only to a higher turnover, but also to an increased productivity. The company was able to consolidate its German production capacity into one site earlier than planned. Additional to that, Schweizer Electronic reduce its headcount by 5% - alongside the discontinuation of temporary working contracts. At the end of 2008, the PCB manufacturer employed a total of 706 staff (included are 42 trainees).

Schweizer Electronic will continue its strategy of broadening its product range, while at the same time continuing to react to the economic slowdown with adequate flexibility. This means, among other things: that Schweizer was able - despite the crisis affected order situation (in particular from automotive customers) - to increase its order backlog during the 4Q (as of 31.12.2008) by 7% to €47 million, compared to the same period the previous year.

Schweizer Electronic answered customer demand for prototypes and small series with the 2008 announced cooperation with Berlin-based PCB manufacturer Contag GmbH. In addition, the company's negotiations with partners in low-cost countries regarding a purchasing partnership continue according to plan and look so far very promising.

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