Turnover growth of 3.7% slightly above expectations for Schweizer

This corresponds to a growth of 3.7 percent against the previous year, despite the challenging development in the relevant business markets in the second half year. The EBITDA amounted to 9.3 million euro, which is equivalent to a margin of 7.4 percent (the lower end of the forecast of 7 to 9 percent), a press release states.. Schweizer's new high technology production facility under construction in China is scheduled for ramp-up at the beginning of 2020. The anticipated start-up losses of the new Chinese production plant will burden the result, the release continues. Therefore we expect an EBITDA margin of 4 to 6 percent for the year 2019. Due to the political uncertainties as well as the continuing slowdown on the automotive market - our biggest customer group – Schweizer reckons with a turnover development moving within a range of -5 to +5 percent.