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EQS-Ad-hoc: Schweizer Electronic AG / Key word(s): Change in Forecast Schweizer Electronic AG: Adjusted outlook for the year 2024 Schramberg, July 12, 2024 – Based on the preliminary financial results of the SCHWEIZER Group for the first half of 2024, the Executive Board has adjusted the forecast for the 2024 financial year. The sales forecast of EUR 140 to 150 million can be maintained unchanged due to the successful start of large-scale production of the embedding technology. The technology, which is used in hybrid drive vehicles, is benefiting significantly from the weak demand for battery electric vehicles. On the other hand, SCHWEIZER is affected by the current difficult overall economic situation in the German economy, particularly in the German automotive industry. As a result, capacity utilization at the plant in Schramberg (Germany) has deteriorated noticeably. As a result, we expect EBITDA (earnings before interest, taxes, depreciation and amortization) of EUR 2 to 5 million (previously EUR 10 to 11 million) for 2024. Although the trading business with our Asian partners is developing positively, these earnings contributions could not fully compensate for the losses at the German plant. The weaker earnings forecast also has an impact on the expected equity ratio. We are now forecasting an equity ratio of 20 to 25 percent (previously 25 to 28 percent). The management has immediately initiated a program to improve earnings in order to take account of the capacity utilization situation at the plant in Schramberg. We expect the measures to begin to take effect in the coming months. The Executive Board expects sales revenue of around EUR 74 million for the first half of 2024 (H1 2023: EUR 68.7 million). The calculation of the other key figures has not yet been finalized. However, due to the weak second quarter, it can be expected that EBITDA will amount to EUR 0 to 1 million for the first half of the year. The figures for the first half of 2024 will be announced on 9 August 2024 at https://schweizer.ag/investoren-und-medien/finanzberichte/downloads-berichte Explanations to Financial Figures are available at: https://schweizer.ag/en/investors-media/company-key-figures/explanations-financial-figures.
Investor Relations Phone: +49 7422 512 302 Fax: +49 7422 512 397 ir@schweizer.ag End of Inside Information Information and Explanation of the Issuer to this announcement: About SCHWEIZER Schweizer Electronic AG offers the latest, cutting-edge technology and consultancy expertise in the PCB industry. Thanks to its state-of-the-art production facilities in Schramberg, Germany and Jintan, China as well as close partnerships with other technology leaders, SCHWEIZER provides individual PCB & Embedding solutions. SCHWEIZER's innovative PCB technologies are used in the most demanding applications, for example, in the Automotive, Aviation, Industry & Medical and Communications & Computing sectors, and are characterised by their extremely high quality and energy-saving and environmentally-friendly features. The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol „SCE“, „ISIN DE 000515623“).
For further information please contact:
12-Jul-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Schweizer Electronic AG |
| Einsteinstraße 10 | |
| 78713 Schramberg | |
| Germany | |
| Phone: | 07422-512-301 |
| Fax: | 07422-512-397 |
| E-mail: | ir@schweizer.ag |
| Internet: | www.schweizer.ag |
| ISIN: | DE0005156236 |
| WKN: | 515623 |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1945363 |
| End of Announcement | EQS News Service |
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1945363 12-Jul-2024 CET/CEST
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