Schramberg, November 11, 2011 – Schweizer Electronic AG today announced their financial figures for the third quarter 2011. Within this period the company could achieve sales revenues of 25.6 (previous year 28.1) million Euro. Thus sales of the first three quarters 2011 were at 83.7 (previous year 78.8) million Euro and were therefore 6,2 % above the comparison period. Despite higher sales in comparison to the first nine months 2010 SCHWEIZER could not quite achieve their sales target.
In the third quarter the company achieved - despite declining sales - an EBIT of 2.6 (previous year 4.1) million Euro. This corresponds to an EBIT-Margin of 10.2 % for the third quarter and was thus above expectations. EBIT for the first nine months in 2011 was 8.3 (previous year before special effects 9.9) million Euro. This decline is attributed to increasing cost for material and personnel. Consequently SCHWEIZER has lowered the number of temporary staff according to current requirements.
Since mid of 2009 SCHWEIZER was able to further improve their balance sheet structure. On September 30, 2011 equity capital was 42.7 million Euro and thus significantly above the previous year’s value of 26.5 million Euro. Accordingly, equity ratio increased to 55 % (previous year 41 %). Net gearing could be reduced to below zero. Therefore liquid assets were higher than all of SCHWEIZER’s interest-bearing liabilities at the end of the quarter.
„These indicators are an important basis for our financial stability, even in longer and more difficult economic cycles“, comments Dr. Marc Schweizer, CEO of Schweizer Electronic AG. „They equally open up an excellent starting basis for forward-looking targeted investments into innovations and improved technologies in the area of Printed Circuit Boards (PCB), the integration of components within the context of Schweizer Systems as well as our diversification with Schweizer Energy.“
SCHWEIZER continues their strategy and focuses further on the growth region Asia as a complement to Europe. The company mainly concentrates on the expansion of the PCB business as well the diversification by establishing new business areas. These include the creation of the business division Schweizer Systems, based on Embedding Technologies (integration of components into the PCB) and Schweizer Energy in the areas of energy creation, sales and storage in Asia.
Based on the continuing insecurities of the global economic development, the company adjusts its sales forecast for fiscal year 2011 and expects sales revenues on previous year‘s level of about 105 million Euro. Despite lower sales growth, SCHWEIZER confirms their EBIT forecast on a level of 10 million Euro to 11 million Euro for fiscal year 2011. This corresponds to an expected EBIT-margin of about 10 %, which is at the upper end of the forecast corridor. This takes into consideration all expenses for the development of the new business areas.