PCB | May 07, 2010
Schweizer records sales increase of 27%
Sales for the German PCB manufacturer Schweizer electronic reached EUR 23.9 million during the first quarter of the financial year. This exceeds the prior quarter figures by 27%.
Compared to the first quarter of 2009, this indicates an increase of 87% - we had expected an increase of 60%. 52% of sales were achieved in the automobile sector, 25% in solar electronics, 15% in the other industries segment and 8% in other customer sectors. Order entries amounted to EUR 35.7 million in the first quarter, exceeding the year-on-year figure 13 times. The book-to-bill ratio was at 1.5 in the first quarter. Sound profitability and financial stability The first three months closed with an EBITDA (Earnings before interest and taxes, depreciation and amortisation) of EUR 3.2 million. The EBITDA ratio of 13% remains somewhat below the prior quarter figure but continues to remain stable. At EUR 2.2 million, or 9% of sales, EBIT (Earnings before interest and taxes) is stronger than in the prior quarters. The balance sheet structures continue to improve due to the continued positive earnings situation. At the end of the first quarter, the equity ratio rose to 31.8% whereas the prior year quarter closed at 29.1%. Cash flow from operating activities slightly negative A negative cash flow of EUR 0.1 million was achieved in the first quarter of this financial year. The marked increase in business volumes resulted in an increase in working capital of EUR 3.8 million. This increase was in particular due to receivables which rose by EUR 5.3 million in the first three months and is purely volume-based – there was no change in the payment trends of our customers. Outlook: Price increases and supply shortages in basic and raw materials Due to the broad and steep increase in worldwide demand for raw materials as well as basic materials, the next few months will see longer delivery times as well as significant price adjustments on our supplier side. Schweizer Electronic has countered these signals by already introducing measures in order to avoid noticeably negative effects on profits. Order situation remains positive "At this point in time there are no indications of any flagging in the brisk ordering activities of our customers. We are therefore optimistic that high sales levels will be able to be maintained in the next few months", the company states. Medium to long term development however continues to be beset with uncertainties. In the fast and intensive recovery of the electronics industry lies the danger of an equally fast relapse ("double-dip" risk). The medium-term effects of the debt situation of some southern European countries on the world economy are also not yet foreseeable today. 2010 promising for Schweizer Schweizer Electronic will continue to explore important product developments and targeted investments in growth areas with continued financial discipline. At the main plant in Schramberg, the company is pursuing the goal of making its processes and structures more flexible in order to enable Schweizer to react to short term and continued increasing fluctuations in customer demand. The 2010 budget has provided for investments of several millions in Schramberg – to increase flexibility and productivity and to cater for specific customer needs in growth areas. In addition, its partner, Meiko Electronics, has invested in significant capacity developments in the Asian plants. Prognosis for the 1st half year of 2010 Against this backdrop, Schweizer Electronic expects to achieve sales of EUR 48 to 50 million at an EBIT ratio of between 8% and 9% (prior year period: Sales EUR 28.2 million / EBIT ratio – 20%) for the first half of the 2010 financial year. Therefore its forecast sales are in line with year-on-year growth of more than 70%.
ESD-Center aims to conquer the Baltics After 15 years of working the Baltic market, ESD-center, a Swedish supplier to the electronics industry, established its first office in Pärnu, Estonia in April of 2019.
EV manufacturer adds Chinese subsidiary for in-country operations ElectraMeccanica Vehicles, a designer and manufacturer of electric vehicles, has established EMV Automotive Technology, Inc. (Chongqing), a wholly-owned subsidiary, in China.
Silicon Labs acquires Qulsar's IEEE 1588 software and modules Silicon Labs has acquired all IEEE 1588 precision time protocol (PTP) software and module assets from Qulsar, a provider of PTP grandmasters, gateways and other system-level synchronization-based solutions.
GPV expands warehouse in Thailand GPV’s electronics production facility in Thailand has officially opened its new, 2,300 square metres warehouse.
Sponsored content by Sourceability NA LLCComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
US DoD to invest in SkyWater’s domestic technology foundry The U.S. DoD is planning to invest up to USD 170 million in SkyWater Technology for a project that will enhance its microelectronics capabilities and the strategic radiation hardened (rad-hard) market.
FANUC America opening robotics and automation facility Robotics solutions provider FANUC America held a grand opening celebration at its new 461,000 square-foot North Campus robotics and automation facility in Auburn Hills, Michigan this week.
Up on the roof: Foxconn hits milestone in WI Foxconn's Wisconn Valley Science & Technology Park is closing in on having “roof” checked off the list of tasks with the recent start of the roof installation on the nearly 1,000,000 square-foot TFT LCD fab.
Plasmatreat opens new technology and research centre Plasmatreat says that it is opening its new technology and research centre, Plasma Campus, at the its headquarter in Steinhagen. In the 1'400 square meter facility, new areas of application for plasma technology will be developed.
NOTE reports growth across the board The Swedish EMS provider is reporting record growth, a stronger operating margin and about 30% larger order backlog during its third quarter.
PCB Connect expands to Turkey Swedish PCB supplier PCB Connect is continuing its growth and has, since the first of September, established a local presence in Turkey.
Teradyne strikes deal for AutoGuide Mobile Robots Massachusetts-based Teradyne has entered into a definitive agreement to acquire privately held AutoGuide for USD 165 million.
Major investments part of tentative UAW, GM deal Details of the tentative agreement hatched between General Motors and UAW last week are emerging, including GM’s pledge to invest USD 3 billion in the Detroit-Hamtramck assembly plant.
CATL starts construction of its first overseas factory in Germany A groundbreaking ceremony of the first overseas factory for lithium-ion battery maker CATL took place on October 18 in Thuringia, Germany, marking the start of construction of the first lithium-ion battery factory in Germany.
Mycronic delivers mask writer to Asia Swedish Mycronic says it has received an order for a Prexision-series mask writer for display applications from an existing customer in Asia.
Protolabs invest GBP 5M in expansion Protolabs, digital manufacturer of custom prototypes and low-volume production parts, has announced a GBP 5 5million expansion plan at its European Headquarters in Telford (UK).
Joyson Safety invests in Hungary Joyson Safety Systems is starting a new investment round at its Hungarian facility in Miskolc. The EUR 50 million investment project aims to improve efficiency and increase production volume.
REC Group starts mass production on Meyer Burger equipment Norway-headquartered solar module manufacturer REC Group has started mass production of its new Alpha modules. This new generation of modules is manufactured on Meyer Burger HJT/SmartWire core equipment.
AQ Group opens new Wiring Systems factory in Poland AQ Group has officially opened a new production facility for their AQ Wiring Systems unit in Łódź (Poland).
Mynaric secures €1.7 million contract Mynaric will deliver multiple laser communication flight terminals to an undisclosed customer in an initial deal valued at EUR 1.7 million.
EMPA spin-off TwingTec takes flight Anyone who has ever steered a child's kite knows the feeling: the wind grips the kite and pulls the string. The rope is quickly tensioned, the pulley rotates between the fingers and is difficult to control. The question arises: Could this wild energy not only be used to play, but also to generate electricity?
Collaboration for the electrification of Europe’s buses BMZ, Horiba Mira and Ziehl-Abegg have teamed up on developing a turnkey service for converting existing bus fleets to e-Buses.
Tin users see weaker markets A survey carried out by the International Tin Association (ITA) showed refined tin use grew by 2 percent in 2018, but points to a contraction in most sectors in 2019. 141 companies took part in the survey, accounting for some 43 percent of estimated global refined tin use in 2018.
Kleos Space establishes US foothold Luxembourg-based DaaS company Kleos Space has incorporated a US subsidiary to integrate and sell its maritime ISR data into US defence and security government departments, agencies and industry.Load more news