- Preliminary annual result amounts to 3.5 million euro
- Turnover and EBITDA within forecast
- Order book with 181.5 million euro significantly higher than previous year
Schramberg, March 22, 2018 – According to preliminary unaudited IFRS figures the SCHWEIZER Group was able to boost its annual result 2017 to 3.5 million euro (2016: 0.6 million euro). Besides the operative development, which was better than expected, the partial sale of SCHWEIZER’s stake in Meiko Electronics amounting to 4.0 million euros had a positive impact on the financial income. In the fourth quarter of the year 2017 SCHWEIZER and Meiko Electronics had agreed on a reduction of their mutual shareholding. The partial sale of the shares has no impact on the continuing successful cooperation of the two companies.
At the operative level the company achieved an EBITDA (earnings before interest, taxes, depreciation and amortisation) of 12.5 million euro, which corresponds to a ratio of 10.3 percent. Due to special effects, this key figure was negatively affected, so that the EBITDA in consideration of the special effects amounted to 9.5 million euro (2016: 9.5 million euro). This corresponds to an EBITDA ratio of 7.8 percent. The special effects concern legal cost provisions for pending lawsuits as well as extraordinary expenses in connection with the establishment of a new production plant in China.
With sales of 120.9 million euro in the year 2017, the SCHWEIZER Group has achieved its highest Group turnover so far. Reporting an order book increase of 14 percent to 181.5 million euro (2016: 158.4 million euro), the company is in a very good position for the further development.
The high order income and the good operative results support the growth plans of the company through the construction of a production plant in the province of Jiangsu (China).
Final, audited figures for the business year 2017 will be disclosed on April 20, 2018.