Schweizer's Q314 surpassed previous year’s figures

Quarterly sales rose to EUR 28.0 million from EUR 26.7 million the year before. The company managed to expand its positioning in the automotive industry with an increase of 16 % to EUR 20.6 million. Cumulative EBIT by the end of the third quarter increased to EUR 7.6 million from EUR 7.1 million in last year’s period. This corresponds to an EBIT margin of 9.1%. Quarterly EBIT at the end of September was within the company’s expectations with EUR 2.9 million against EUR 3.3 million the year before and an EBIT margin of 10.4%. Cash flow from operating activities climbed to EUR 7.3 million in the first three quarters of this fiscal year compared to EUR 6.3 million in previous year’s period. Particularly positive is the increase of order income in the Asian production capacities. They boosted by 98% to EUR 11.1 million at the end of September. Total sales realised through Schweizer’s Asian partner network jumped by 51% against last year to EUR 7.4 million by the end of September. Dr. M. Schweizer, CEO Schweizer Electronic AG, comments, “Our business results after the first nine months of this fiscal year are really satisfying and come up to our expectations. In the third quarter, successes in our portfolio management already had an important influence on the improved results compared to the second quarter. Schweizer’s clear technological positioning in the area of innovation and growth technologies for power electronics, embedding and system cost reduction made a significant contribution to the business performance. Looking forward to the year end results, we are happy to specify our forecast with expected sales of EUR 108 million for 2014 and an EBIT around EUR 9 to 10 million, already considering our extraordinary expenses for the production start in Vietnam.”