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Schweizer Electronic AG: Adjustment of turnover guidance and confirmation of profit forecast

Schramberg, November 06, 2018 – Based on the current expectations for the business development in the fourth quarter of 2018, the Management Board of Schweizer Electronic AG lowered its turnover forecast for the total business year 2018 to about 124.0 million euro, which corresponds to a growth of 2 to 3 percent (previous growth forecast: plus 6 to 8 percent).

Schramberg, November 06, 2018 – Based on the current expectations for the business development in the fourth quarter of 2018, the Management Board of Schweizer Electronic AG lowered its turnover forecast for the total business year 2018 to about 124.0 million euro, which corresponds to a growth of 2 to 3 percent (previous growth forecast: plus 6 to 8 percent).

Despite the lower turnover growth, the EBITDA (earnings before interest, taxes, depreciation and amortisation) ratio is still expected to range between 7 and 9 percent of the total turnover, whereby the upper end of the range still seems feasible. This corresponds to an EBITDA of slightly below 11 million euros and already includes the burdens from the ramp up of the new production site in China with around 1 million euro.

In the first three quarters of 2018, SCHWEIZER reported a turnover of 96.7 million euro corresponding to an increase of 5.3 percent. The EBITDA amounted to 9.3 million euro (2017: 6.0 million euro). Amounting to 9.7 percent, the EBITDA ratio was above the expected range. The EBIT (earnings before interest and taxes) jumped to 3.6 million euro (2017: 0.0 million euro).

Overall, on the operative level, the first three quarters of the business year were significantly more successful than the previous year. However, the shift of order call-offs from the fourth quarter 2018 to the following business year indicate a likelihood that the turnover in the last quarter of the current business year will be below previous year’s level. The order book continues to be at a very high level with 169.1 million euro at the end of the third quarter (2017:172.0 million euro).

Final results for the third quarter will be published on November 9, 2018.