Schweizer Electronic AG: Business development in the first half of 2025

• Sales up 10.7 percent in the first half of the year
• Order backlog remains solid
• Forecast specified

Schramberg, 8 August 2025 – The SCHWEIZER Group has continued its growth path and achieved sales of EUR 82.2 million in the first half of 2025.

Order Backlog
At the end of the first half of 2025, the SCHWEIZER Group had an order backlog of EUR 225.8 million (31 December 2024: EUR 220.4 million). Order intake in the trading segment was very dynamic, particularly due to the start of series production of the SCHWEIZER embedding technology, and recorded double-digit growth, whereas the order situation for in-house production declined. The order backlog for 2026 and subsequent years amounts to EUR 150.9 million.

Revenue development
In the first half of 2025, sales rose by 10.7 percent to EUR 82.2 million (previous year: EUR 74.3 million). Sales from in-house production amounted to EUR 27.8 million, corresponding to a decline of 37.8 percent. In contrast, sales in the trading segment rose by 83.8 percent to EUR 54.4 million. The implementation of the Fab-Light strategy and rising demand for embedding technology for automotive customers led to growing success of the strategic partnerships.

Market segments and regions
Sales to automotive customers amounted to EUR 68.7 million, an increase of 15.8 percent compared to the previous year. The increase in sales in the automotive sector and the decline in the industrial sector led to an automotive share of 83.5 percent of sales (first half of 2024: 79.9 percent). For the first time, the major sales market was outside Germany with Europe, with a sales volume of EUR 34.7 million an increase of 47.7 percent, which was larger than the domestic market. In contrast, the German market was significantly weaker compared to the first six months of the previous year, with a sales volume of EUR 23.6 million, a decline of 23.6 percent. The American market developed particularly positively, with an increase of 60.6 percent compared to the previous year.

Results and profitability
EBITDA (earnings before interest, taxes, depreciation and amortisation) for the first half of 2025 amounted to EUR -1.1 million (previous year: EUR 0.1 million), corresponding to an EBITDA margin of -1.4 percent. Profitability was negatively impacted by underloading of the Schramberg site, higher material costs, the negative development of the US dollar and changes of the product mix. Stringent cost management had a strong impact in the second quarter, enabling EBITDA to turn around despite ongoing underloading of the Schramberg site.

Financial position and equity
The equity ratio fell to 14.1 percent (31 December 2024: 21.1 percent). In addition to the operating result, write-downs on hidden reserves in investments accounted for using the equity method also had a negative impact on equity. Although debts were repaid, cash and cash equivalents increased significantly and amounted to EUR 12.0 million at the end of the first half of the year (31 December 2024: EUR 8.2 million). Long-term and short-term financial liabilities decreased to EUR 20.4 million.

Forecast
The Executive Board expects moderate sales growth between EUR 145 million and EUR 165 million for the current financial year. The current order situation allows for an increase of EUR 15 million in the lower forecast value compared with the most recent estimate communicated in April.

The earnings situation remains under pressure. Rising material costs, ongoing underloading of the production site in Schramberg and the weak US dollar are having a particularly negative impact. The ongoing cost-cutting measures are being implemented as planned and are increasingly helping to ease the burden.

Based on the half-year results and the outlook described above, the Executive Board expects an adjusted EBITDA of between EUR 2 million and EUR 6 million. Any restructuring expenses that may arise are not included in this earnings forecast. The 2025 financial year is expected to be a transition phase in terms of costs; the efficiency measures taken are expected to be fully effective in 2026.

The complete half-year financial report is available at https://schweizer.ag/investoren-und-medien/finanzberichte/downloads-berichte.

Key figures for the SCHWEIZER Group

Explanations of the key figures used can be found at https://www.schweizer.ag/de/investorrelations/unternehmenskennzahlen/erlaeuterung-unternehmenskennzahlen.html and in the Annual Report 2024 on page 38 ff.

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, 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:
Elisabeth Trik
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Phone: +49 7422 / 512-302
E-mail: elisabeth.trik@schweizer.ag
Please visit our website: www.schweizer.ag
Pictures: Schweizer Electronic AG | Flickr