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PCB | July 23, 2010

Schweizer exceeded expectations in HY1

Schweizer Electronic: EBIT of EUR 10.1m for the first six months of 2010 exceeds expectations –special effects boost profit leap.

With a sales volume of EUR 50.8m (previous year EUR 28.2m) and an EBIT of EUR 10.1m including special effects, the provisional results of Schweizer Electronic AG for the first half of 2010 have exceeded expectations. The EBIT margin amounts to 19.9%. When adjusted by the special effects, the EBIT amounted to EUR 5.8m (2009: EUR -5.7m), the adjusted EBIT margin was 11.5% (2009: -20.2%). The special effects mainly result from revaluations performed after a tax audit for plants and machinery which had been purchased after the fire in the years 2005 to 2007. The 80% sales increase compared to the previous year period was attributable to all customer groups. Sales to automotive customers improved by approx. 60%, and for industrial customers including the solar industry we recorded a 100% sales increase. Thus, in the first half of 2010, Schweizer Electronic achieved 49.6% (2009: 54%) of its sales in the automotive segment, 42.8% (2009: 39%) in the industrial/solar segment, and 7.6% (2009: 7%) with other customer groups.
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