Schweizer confirms significant growth for 2021

In addition to the coronavirus-related economic downturn, the transformation within the largest customer segment "Automotive" and the implementation of a comprehensive cost reduction programme at the Schramberg site, Schweizer was able to accomplish the start-up of the new high-tech plant in China. Chairman of the Executive Board Nicolas Schweizer looked to the future and underlined the group's growth and globalisation strategy that has already been adopted. With its set up with 1,000 employees, two plants and a partner network, the group sees it self as very well positioned for current and future topics, such as the change in mobility and the technological challenges to achieve climate goals. During the Annual General Meeting Nicolas Schweizer also reported on the establishment of a new sales company in the USA and emphasised Schweizer's increasingly global position as a basis for growth opportunities. CFO Marc Bunz also reported on the group's development in the first quarter of 2021. In addition to a recovery of the order and sales situation to pre-crisis levels, the main points in the first quarter were the burden on the income situation due to the planned start-up losses of the new plant in China and the successful turnaround at the Schramberg site.