SCHWEIZER Announces Preliminary Group Figures for 2023 Financial Year
March 27, 2024 | Schweizer Electronic AGEstimated reading time: 1 minute
The preliminary and unaudited results of the SCHWEIZER Group confirm the major and successfully completed turnaround in 2023. Sales rose to a record of EUR 139.4 million, exceeding expectations with an increase of 6.4 percent. This growth was made possible by a strong fourth quarter.
Gains from the deconsolidation of Schweizer Electronic (Jiangsu) Co., Ltd., China and an operational turnaround in business results led to an EBITDA of EUR 47.4 million (forecast: around EUR 50 million). This confirmed the high profits from the sale of the majority stake in the Chinese unit to WUS Printed Circuit (Kunshan) Co., Ltd., China. Excluding the positive one-off effects of the deconsolidation, EBITDA amounted to EUR 8.9 million (6.4% of sales). This was slightly below the EBITDA forecast of 7 to 9 percent.
Net gearing improved significantly to 64.2% (expectation 50 to 70%), as did the equity ratio, which amounted to 24.3% (previous year -5.5%)
Contrary to the market, SCHWEIZER also expects growth in 2024. We anticipate sales in a range of EUR 140 to 150 million (up to plus 10%), which will be made possible primarily by the start of large-scale production of the embedding technology for applications in automotive hybrid drive systems. This is a market segment that is currently developing very promisingly.
The audited figures as well as a comprehensive overview of the Group's development in the past financial year 2023 and a detailed forecast for the current financial year will be announced in the context of the publication of the annual report on 29 April 2024.
Suggested Items
Airbus Achieves Eurodrone’s Preliminary Design Review
05/16/2024 | AirbusThe Eurodrone programme has successfully performed the Preliminary Design Review (PDR). Led by Airbus Defence and Space as prime contractor, this major programme milestone has been completed with OCCAR and representatives of the four customer nations (France, Germany, Italy and Spain) in the presence of the three Major Sub-Contractors (MSC), Airbus Defence and Space Spain, Dassault Aviation and Leonardo.
ispace EUROPE, CDS Sign Payload Service Agreement to Transport Precise Location Measurement Technology to the Moon
05/14/2024 | BUSINESS WIREispace EUROPE S.A., the Luxembourg-based subsidiary of ispace, inc., and Control Data Systems SRL (CDS) have signed a payload services agreement to transport precise location measurement equipment to the Moon, the two companies announced.
KYZEN to Showcase Advanced Packaging Solutions at PCIM Europe 2024
05/14/2024 | KYZEN'KYZEN, the global leader in innovative environmentally responsible cleaning chemistries, is excited to announce its participation in PCIM Europe 2024, scheduled to take place June 11-13, 2024 in Nuremberg, Germany.
Incap Releases Unaudited Business Review for January–March 2024
05/08/2024 | IncapRevenue for the first quarter 2024 amounted to EUR 51.4 million (1–3/2023: EUR 72.2 million). Year-on-year the revenue decreased 29.3%, as expected.
Schweizer Electronic: Business Development in Q1 2024
05/08/2024 | Schweizer Electronic AGThe sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year.