Schweizer: Result down in fiscal 2016

Preliminary, unaudited figures reveal a group EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) according to IFRS of EUR 9.5 million (2015: EUR 11.4 million). This corresponds to an EBITDA ratio of 8.2 percent, which is below the envisaged range of between 9 to 10 percent. The expected group EBIT amounted to EUR 1.8 million (2015: EUR 3.7 million), corresponding to a ratio of 1.6 percent (2015: 3.2 percent). The result was burdened by substantial product ramp-ups, showing a lower rate of return in the ramp-up phase, by disproportionally increasing personal cost as well as by a comprehensive investment programme totalling EUR 8.8 million for new production technologies, a press release states. The expected annual group result decreased to EUR 0.6 million (2015: EUR 1.5 million).