Schramberg, May 2, 2011 – In the first quarter 2011 Schweizer Electronic AG also succeeded in unabatedly continuing the dynamic growth they began in the past year. After the past Fiscal Year had already been completed with record figures, sales in the first quarter of 2011 even significantly exceeded expectations. With Sales of 29.1 (previous year. 23.9) mio. Euro, a plus of 22 % compared to the corresponding quarter of the previ-ous year, the company impressively underlines this.
Sales generated via the partner network could also be significantly increased and were, with 2.7 mio. Euro, fourfold higher compared to the corresponding quarter of the previous year. This is particularly impressive against the background of the catastrophe in Japan as the strategic partner Meiko Electronics Co., Ltd. had been affected by the impacts of the Tsunami and the nuclear catastrophe. As SCHWEIZER is exclusively being served by the Chinese factories of MEIKO, this does not have any effect on the operational cooperation between both companies.
Following temporary supply shortages in the previous year, SCHWEIZER’s Management strongly focussed on the improvement of delivery reliability for customers in the past months. Investments in bottleneck areas as well as the introduction of an optimized production planning system significantly improved delivery reliability. For orders which are extremely urgent the company introduced a Fast Path Lane.
In the meantime SCHWEIZER comes up with an excellent structure of the balance sheet. The ongoing profit situation is accompanied by an enhanced debt relief of the company. Net Gearing only amounted to 7 % of own capital. Equity ratio is at 50 % (previous year 30 %). Total property of SCHWEIZER has grown to 78.8 (previous year 54.2) mio. Euro.
Despite pending challenges the company looks positively at the development of the current Fiscal Year. SCHWEIZER encounters possible uncertainties with regards to a truly self-supporting global upswing, recent incidents in North Africa and Japan and further cost pressure through increasing prices on the procurement side with a continuously low fixed cost base and flexible cost structures.
„We are in good shape and have the skills as well as the expertise to also continue our successful journey in a slowed-down growth environment.“, says Dr. Marc Schweizer, CEO of Schweizer Electronic AG.
Against this background the company expects a sales increase to up to 110 to 120 mio. Euro with an EBIT margin of 9 % to 10 % (Q1/2011: 9%) for Fiscal Year 2011. Thus the predicted sales correspond to a growth of 5 % to 15 % compared to the previous year.
Last week SCHWEIZER published their annual report for the Fiscal Year 2010.