© Schweizer (only for illustration purposes) PCB | March 23, 2018
Schweizer Electronic: Turnover and EBITDA within forecast
Schweizer Group was able to boost its annual result 2017 to EUR 3.5 million (2016: EUR 0.6 million). Besides the operative development, which was better than expected, the partial sale of Schweizer’s stake in Meiko Electronics amounting to EUR 4.0 million had a positive impact on the financial income.
In the fourth quarter of the year 2017 Schweizer and Meiko Electronics had agreed on a reduction of their mutual shareholding. The partial sale of the shares has no impact on the continuing successful cooperation of the two companies. At the operative level the company achieved an EBITDA (earnings before interest, taxes, depreciation and amortisation) of EUR 12.5 million, which corresponds to a ratio of 10.3 percent. Due to special effects, this key figure was negatively affected, so that the EBITDA in consideration of the special effects amounted to EUR 9.5 million (2016: EUR 9.5 million). This corresponds to an EBITDA ratio of 7.8 percent. The special effects concern legal cost provisions for pending lawsuits as well as extraordinary expenses in connection with the establishment of a new production plant in China. With sales of EUR 120.9 million in the year 2017, the PCB manufacturer achieved its highest group turnover so far. Reporting an order book increase of 14 percent to EUR 181.5 million (2016: EUR 158.4 million), the company is in a very good position for the further development, a press release states. The high order income and the good operative results support the growth plans of the company through the construction of a production plant in the province of Jiangsu (China).
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