Schweizer: outlook for 2024 remains positive
The preliminary and unaudited results of the Schweizer Group confirm the completed turnaround in 2023. Sales rose to a record of EUR 139.4 million, exceeding expectations with an increase of 6.4%.
The company states that the growth was made possible by a strong fourth quarter.
Gains from the deconsolidation of Schweizer Electronic (Jiangsu) Co., Ltd., China and an operational turnaround in business results led to an EBITDA of EUR 47.4 million, wich was forecasted to be around EUR 50 million. This confirmed the high profits from the sale of the majority stake in the Chinese unit to WUS Printed Circuit (Kunshan) Co., Ltd., China.
Excluding the positive one-off effects of the deconsolidation, EBITDA amounted to EUR 8.9 million, 6.4% of sales. This was slightly below the EBITDA forecast of 7% to 9%.
"Contrary to the market, Schweizer also expects growth in 2024. We anticipate sales in a range of EUR 140 to 150 million (up to plus 10%), which will be made possible primarily by the start of large-scale production of the embedding technology for applications in automotive hybrid drive systems. This is a market segment that is currently developing very promisingly," the company writes in an update.
