Schweizer Electronic AG today announced their financial figures for the first quarter 2013. Within this period, the company achieved sales revenues of 23.6 (previous year 28.4) million Euro. Thus, sales were 17 % lower with regards to the comparison period in 2012 and are in line with the company’s expectations. The result before interest and tax (EBIT) amounted to 1.3 million Euro (previous year 2.2 million Euro). EBIT margin was hence at 6 % (previous year 8 %).
With an order entry of 27.4 million Euro (previous year 22.7 million Euro) in the reporting period, the company registered an increase of 21 % compared to the previous year. This positive development was particularly shaped by customers from the automotive segment, who still acted cautiously in the previous year.
The equity ratio, too, developed positively and increased to 41.9 million Euro (Dec. 31, 2012: 40.9 million Euro) in the reporting period. The balance sheet total increased, compared to year’s end. This is particularly due to liabilities resulting from deliveries and services which grew by 1.9 million Euro to 5.4 million Euro. As a consequence, equity ratio slightly decreased to 56 % (Dec. 31, 2012: 57 %). Liabilities increased due to the noticeably raised sales and order entry in the first quarter.
„With regards to a declining European market and despite increased order entry we remain cautiously optimistic. In autumn last year, we have already initiated measures to stabilize our margin and have thus prepared ourselves for a difficult market environment. Beyond these measures we have accelerated the internationalisation of our division Electronic and will deploy the division Energy with a tapered business model. This way, SCHWEIZER will be increasingly represented in Asia and can profit from the growth in this region“, says Dr. Marc Schweizer, CEO of Schweizer Electronic AG.
Based on the insights at hand and the development of the European markets, the company expects sales for its PCB business of more than 90 million Euro as well as an EBIT margin of more than 5 % for the current fiscal year.