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© Schweizer electronic PCB | July 05, 2010

Schweizer electronic: 2009 results are good

In 2009, sales for the German PCB manufacturer amounted to EUR 65.8m, remaining 20% below previous year levels of € 81.8m. This decline can be traced back to an extremely weak 1H/2009 resulting from the financial and economic crunch.

Accordingly, the EBIT (earnings before interest and taxes) was EUR minus 3.4m (previous year: EUR minus 0.3m). However, Schweizer Electronic achieved an impressive turnaround as of mid-2009, the company stated. The inflow of orders, which had amounted to only EUR 12.3m during the first six months, increased by 475% to EUR 70.7m during the 2nd half of the year. Sales revenues improved from EUR 28.2m during the first six months to EUR 37.6m during the second half, representing a 33% increase. Thus, the EBIT, which had been EUR minus 5.7m as per 30/06/2009, increased to as much as EUR 2.3m during the time from July to December 2009. In his report on the current year, Dr. Schweizer explained, that the demand for the company’s products would continue to be at high levels. The most obvious impetus was given by the solar and the automotive industries. The Management Board was optimistic as regards the business development and expected a sales volume of EUR 90 to EUR 100 million and an EBIT margin of more than 8% for the whole year, even when taking material price increases and the historically weak season during the 4th quarter into account. Schweizer Electronic was able to win additional market shares, and currently was the number 3 PCB manufacturer in Europe. In summary, Schweizer Electronic was beginning the second half of the business year quite confidently, but certainly also with respect. But we know: we are on the right track, Dr. Schweizer said in his statement.
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