© stevanovicigor dreamstime.com PCB | November 07, 2018
Schweizer adjusts its forecast
Based on the current expectations for the business development in the fourth quarter of 2018, Schweizer Electronic has lowered its turnover forecast for the total business year 2018 to about EUR 124.0 million euro, which corresponds to a growth of 2 to 3% (previous growth forecast: plus 6 to 8%).
However, despite the lower turnover growth, the EBITDA ratio is still expected to range between 7 and 9% of the total turnover, whereby the upper end of the range still seems feasible, the company states in an update. This corresponds to an EBITDA of slightly below EUR 11 million and already includes the burdens from the ramp up of the new production site in China with around EUR 1 million. In the first three quarters of 2018, Schweizer reported a turnover of EUR 96.7 million corresponding to an increase of 5.3%. The EBITDA amounted to EUR 9.3 million (2017: EUR 6.0 million). Amounting to 9.7%, the EBITDA ratio was above the expected range. The EBIT jumped to EUR 3.6 million (2017: EUR 0.0 million). "Overall, on the operative level, the first three quarters of the business year were significantly more successful than the previous year. However, the shift of order call-offs from the fourth quarter 2018 to the following business year indicate a likelihood that the turnover in the last quarter of the current business year will be below previous year’s level," the company writes in the update. The order book continues to be at a high level with EUR 169.1 million euro at the end of the third quarter (2017: EUR 172.0 million).