Ad hoc announcements from Schweizer Electronic.

2017

07.04.2017 | 12:56 | Schweizer Electronic AG: Preliminary unaudited group figures for Fiscal Year 2016

Schramberg, April 7, 2017 – In the fiscal year 2016 turnover of SCHWEIZER group increased slightly to 116.1 million euro compared to 115.6 million euro in 2015. This development is characterised by further successful business with the highly complex products of SCHWEIZER’s technology portfolio, enabling in particular automotive customers to realise solutions for sensors, LED technologies and electro mobility.

Preliminary, unaudited figures reveal a group EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) according to IFRS of 9.5 million euro (2015: 11.4 million euro). This corresponds to an EBITDA ratio of 8.2%, which is below the envisaged range of between 9 to 10%. The expected group EBIT amounted to 1.8 million euro (2015: 3.7 million), corresponding to a ratio of 1.6% (2015: 3.2%). The result was burdened by substantial product ramp-ups, showing a lower rate of return in the ramp-up phase, by disproportionally increasing personal cost as well as by a comprehensive investment programme totalling 8.8 million euro for new production technologies. The expected annual group result decreased to 0.6 million euro (2015: 1.5 million euro).

Based on the expected annual result of the mother company Schweizer Electronic AG according to HGB standards, SCHWEIZER’s Executive Board recommends to the Supervisory Board to propose a dividend of 0.65 euro per share on occasion of the forthcoming Annual General Meeting on July 7, 2017.

Final, audited figures for the business year 2016 will be disclosed on April 28, 2017.

01.02.2017 | 15:48 | Schweizer Electronic AG: Removal from office of chairperson of the management board

Schramberg, 01.02.2017 – In today's supervisory board meeting, the supervisory board revoked the appointment of Dr Maren Schweizer as member and as chairperson of the management board of Schweizer Electronic AG with immediate effect. The business units Operations, Sales & Marketing, Global Supply Chain and the division Systems for which Dr Maren Schweizer was responsible will be managed by the members of the board Nicolas-Fabian Schweizer and Marc Bunz until further notice.

2016

07.10.2016 | 14:34 | Schweizer Electronic AG: Temporary Change in Executive Board

Schramberg, October 07, 2016 14:34 – The company was informed today that due to health reasons, Dr. Maren Schweizer, Chief Executive Officer of Schweizer Electronic AG, will not be available for the company until further notice, i.e. for a longer period than originally communicated in the ad hoc-release dated April 22, 2016. Since the Deputy Chairman of the Management Board, Mr. Nicolas Schweizer is currently on sick leave, the business units which belong to the areas of responsibility of Dr. Maren Schweizer and Nicolas Schweizer are being managed on an interim basis by Marc Bunz, Member of SCHWEIZER’s Executive Board.

22.04.2016 | Schweizer Electronic AG: Temporary change in Executive Board

Schramberg, April 22, 2016 – As of today until September 2016, Dr. Maren Schweizer, Chief Executive Officer of Schweizer Electronic AG, will only be available for the company to a very limited extent due to health reasons. Facing this situation, the Supervisory Board appointed Mr. Nicolas Schweizer in today’s meeting as Deputy Chairman of the Management Board, who will take over Dr. Maren Schweizer’s tasks as Chief Executive Officer during her absence. The business units Operations, Sales & Marketing, Global Supply Chain and the division Systems, which are under Dr. Maren Schweizer’s responsibility, will be managed by the Members of the Board Nicolas Schweizer and Marc Bunz in this interim phase.

01.04.2016 | Preliminary, unaudited group figures according to IFRS for Fiscal Year 2015

Schramberg, April 1st, 2016 - In order to represent the significance of the Asian business more adequately in its financial reporting, SCHWEIZER for the first time has established a consolidated financial statement according to IFRS Standards for the fiscal year 2015.

On the balance sheet, the adoption of IFRS Standards leads to the disclosure of hidden reserves in tangible assets. While balance sheet assets of the individual financial statement amount to 87.7 million euro, balance sheet assets of the consolidated financial statement according to IFRS come up to 119.1 million euro. The increase in assets is reflected by a higher IFRS consolidated equity of  67.5 million euro compared to an equity of 51.5 million euro in the individual financial statement. The IFRS consolidated equity ratio amounts to 56.6% (individual financial statement 58.7%).

The higher value of tangible assets according to IFRS translates into higher yearly depreciations of 3.8 million euro in the income statement. Particularly due to this effect, the consolidated EBIT before special effects amounted to 5.9 million euro. One-time restructuring expenses of 1.1 million euro and negative exchange rate effects between the euro and the US dollar amounting to a total of  1.0 million euro burdened the result. The EBIT after special effects amounted to 3.8 million euro. Profit after tax is anticipated to be 1.5 million euro (individual financial statement 5.5 million euro).

SCHWEIZER continues to expect a strong business with its automotive solutions to reduce CO2-emissions as well as with its solutions for high frequency applications, which form the precondition for autonomous driving. Thanks to these product solutions, the order book climbed to a record level of 149.1 million euro by the end of the year 2015 order, which is an increase of 25% according to the previous year.

2014

26.11.2014 | Within the context of a strategic partnership Infineon acquires a 9.4 percent stake in Schweizer Electronic AG

Schramberg, November 26, 2014 – Infineon Technologies AG, München and Schweizer Electronic AG agreed today to establish a strategic partnership in order to develop a com-mon market for chip embedding solutions. Within this context Infineon Technologies AG acquired a 9.4 percent stake in Schweizer Electronic AG today.

24.01.2014 | Preliminary Results for the Fiscal Year 2013

Expectations exceeded

  • Expected EBIT EUR 9.8 million, EBIT Margin 9.6 %
  • Expected Annual Sales EUR 101.2 million
  • Order Entry in 2013 about EUR 126 million
  • Order Book at the End of 2013: EUR 114 million

Schramberg, January 24, 2014 – Due to the company’s ongoing positive development in the fourth quarter 2013, Schweizer Electronic AG expects earnings before interest and tax (EBIT) of about EUR 9.8 million (previous year EUR 5.2 million), based on preliminary and unaudited data. This corresponds to an EBIT margin of about 9.6 % (previous year 5.2 %) and an increase of about 88 % compared to the fiscal year 2012.

The provisionally calculated sales could slightly be improved to EUR 101.2 million (previous year EUR 100.2 million). Furthermore, order intake showed a positive development which, in fiscal year 2013, increased by approx. 78 % to EUR 126 million (previous year EUR 71.3 million). The order book amounted to EUR 114 million at the End of 2013 (previous year 90 million).

Final audited financial figures for the fiscal year 2013 will be published on March 31, 2014.

2013

21.10.2013 | SCHWEIZER increases Forecast for Fiscal Year 2013

Schramberg, October 21, 2013 – Based on the company’s continuing positive development in the third quarter, SCHWEIZER increases its sales expectations for the PCB business to approx. EUR 100 million (up to now more than EUR 90 million) and expects an EBIT margin of 7 to 7.5 % (up to now more than 5 %) for the fiscal year 2013.
This positive development of the company is demonstrated by an order entry of EUR 35.2 million, sales of EUR 26.7 million as well as an EBIT margin of 12 % in the third quarter, each of the listed key figures representing the highest value in the current fiscal year.
SCHWEIZER will publish further details on the business performance of the third quarter on November 8, 2013.

27.03.2013 | SCHWEIZER with increased dividend proposal

Schramberg, March 27, 2013 – Following the approval of the annual financial statements as of December 31, 2012 of Schweizer Electronic AG, the Supervisory Board and the Executive Board have decided during their meeting today to propose to the annual shareholder meeting on July 5, 2013 the distribution of a dividend of 0.55 Euro per share for the fiscal year 2012. This corresponds to an increase of 17 % compared to the previous year. According to the dividend policy of SCHWEIZER, the dividend is scaled on the basis of the freely available liquidity. Based on the increasingly solid economic situation and a debt relief of the company to the largest extent, SCHWEIZER is able to increase the dividend for the second time in succession.

04.02.2013 | Preliminary Figures for the Fiscal Year 2012

  • Best automotive year in the company history
  • Sales and operating result (EBIT) in line with guidance
  • Financial result impacted by value adjustments of shares in Meiko Electronics

Schramberg, February 4, 2013 – The annual sales of EUR 100.2 Mio. exceeded Schweizer Electronic AG’s expectation. This was caused by the improved sales in the fourth quarter. Sales with customers in the automotive industry were EUR 65.3 Mio. (previous year EUR 58.7 Mio.), the highest in the company‘s history yet.

In the year 2012 SCHWEIZER achieved an operating result before interest and taxes (EBIT) of EUR 5.2 Mio. (previous year EUR 8.3 Mio.). The growing share of innovative products has a positive impact on the added value. However, expenses for material as well for manufacturing and quality assurance processes rose, caused by an increased complexity of produced PCBs. The result of the fiscal year 2011 was favored by the reversal of various accruals for contingent liabilities of about EUR 1.2 Mio. This special effect did not occur in the reporting period. This fact alone explains nearly 40 % of the decline in results compared to the previous year.

The annual result of EUR 0.7 Mio. was below the results of the previous year (EUR 6.5 Mio.). A devaluation of the share in Meiko Electronics by EUR 2.8 Mio. burdened the financial result. In the meantime, PCB industry experienced a significant and sustained reduction of its evaluation on the capital market. This has led to the fact that the share in Meiko Electronics had to be adjusted to the year-end price of the Meiko share. Thus the share in Meiko has been evaluated with EUR 1.8 Mio. (previously EUR 4.6 Mio.) in our financial assets.

The final and audited figures for the fiscal year 2012 will be announced on March 28, 2013.

2012

05.07.2012 | SCHWEIZER lowers forecast for Fiscal Year 2012

Schramberg, July 5, 2012 – Schweizer Electronic AG updates its outlook for sales and results for fiscal year 2012 on the basis of important indicators confirming the signs for a market downswing.

Following the end of the first quarter, the company already pointed at possible market weaknesses due to the current imponderabilities of the global economy and the continuing debt crises in Europe. Growth driver China also falls short of predicted growth rates.

In the meantime these events have a noticeable impact on the real economy in Germany. This is substantiated by the recently lowered forecasts of semiconductor companies which are regarded as early indicators for the PCB industry. Big automotive suppliers as well as companies in industry electronics and solar business expect decreasing sales. Accordingly, the order behaviour of Schweizer Electronic AG’s customers, mainly active in the segments automotive, industry and solar, increasingly follow this pattern.

For the current fiscal year SCHWEIZER now expects sales of 95 to 100 million Euro. This is 5 to 10 % below previous expectations. In parallel, the company expects for its division Electronic an EBIT margin of 5 % to 7 % (previously 8 % to 10 %). Investments into the division Energy will burden results with 1 % to 2 %. Previous expectations were based on 2 %.

SCHWEIZER will announce further details regarding the business development of the second quarter as well as an outlook on the expected development of the fiscal year on August 24 on the occasion of publishing figures for the first half year of 2012.

08.02.2012 | Preliminary Figures for the Fiscal Year 2011

Schramberg, February 8, 2012 – Despite a seasonally weaker fourth quarter Schweizer Electronic AG was able to keep their annual sales stable at 105.4 million Euro compared to the previous year and within expectations. In the reporting year, particularly customers in the automotive segment were asking for PCB technology made in Schramberg. With 58.7 million Euro (previous year 51.6 million Euro) this customer segment represented 55.7 % of the sales volume. Thus, the weak market development in solar electronics could be fully compensated.
 
Incoming orders in the reporting year amounted to 103.6 million Euro (previous year 163.0 million Euro) and orders in hand by the end of the year were at 120.0 million Euro (previous year 122.0 million Euro), which lead to an even book-to-bill ratio of 1.0.

Due to price increase of input factors and a lower production capacity utilization in the fourth quarter, EBIT before special effects decreased to 9.3 million Euro (previous year 13.0 million Euro) and with an EBIT margin of 8.8 % remained below expectations of 10 to 11 million Euro respectively 10 % EBIT margin. EBIT including special effects amounted to 8.3 million Euro (previous year 16.9 million Euro). Special effects of 1.0 million Euro resulted from final settlement of the fire incident in the year 2005. In 2010, following the final assessment and analogous to the tax approach, an upward revaluation of assets occurred which resulted in a positive special effect in 2010.

Balance sheet ratios further on significantly improved during the past fiscal year. At the end of 2011, equity ratio was at 59 % (previous year 50.5 %). Net gearing amounted to -3 % (previous year 11 %). Thus the liquidity of the company is higher than the sum of interest-bearing liabilities.

The year 2012 already shows a significant recovery compared to the final quarter of the reporting year. In the fourth quarter of the year 2011 sales amounted to 21.8 million Euro. For the first quarter of the fiscal year 2012 the company expects sales of about 26 million Euro. 

The final and audited figures for the fiscal year 2011 will be announced on April 25, 2012.

2011

20.11.2011 | Schweizer Electronic: Start of Production for Solar Cells and Modules in China

Schramberg, November 20, 2011 - Schweizer Electronic AG (ISIN: DE005156236) today decided to build and operate a production plant for solar cells and modules with up to four 100 MW production lines in Nantong, China, to be managed by their division Energy. The investment volume for building the first production line accounts for 50 to 60 million US Dollar.
The target market for the high efficiency solar modules, which are based on monocrystalline cells, will mainly be Asia Pacific, in particular China.
As a basis for the investment decision Schweizer Energy Pte. Ltd., a daughter company of Schweizer Electronic AG located in Singapore, has reached an according agreement with the responsible development company of the City of Nantong.
For building the first production line Schmid Group, Freudenstadt, will be the strategic technology partner of Schweizer Electronic AG. For many years, Schmid has been Schweizer Electronic AG’s technology partner and is world market leader for turnkey production lines in photovoltaic.


For further information please contact:

Marc Bunz, CFO
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg / Germany
Telefon: +49 7422 512 - 213
E-mail: marc.bunz@schweizer.ag

07.02.2011 | Schweizer Electronic AG with Record Year: Expectations exceeded

Schweizer Electronic AG with Record Year: Expectations exceeded

Schramberg, February 7, 2011 - Schweizer Electronic AG will close the Financial Year 2010 with the highest sales in its 161 year-old company history. The company exceeded its forecast and expects sales of 105.4 mio. EUR (previous year 65.8 Mio. EUR; plus 60%). Incoming orders even amounted to more than 160 Mio. EUR (previous year  83.0 Mio. EUR) which equals a Book-to-Bill ratio of 1.5.

Furthermore Schweizer Electronic expects earnings before interest and tax (EBIT) of 16.9 Mio. EUR (previous year -3.4 Mio. EUR), corresponding to a margin of 16.0%. This includes one-time special items of 3.8 Mio. EUR. EBIT, adjusted by special items, amounts to 13.1 Mio. EUR respectively 12.5%. Earnings per share (EPS) are estimated to be at 3.60 EUR including special items.

Based on these preliminary and unaudited results the Executive Board will propose to the Supervisory Board to distribute a dividend to the shareholders for the past Financial Year of 0.42 EUR per share.

For 2011 the company anticipates a continuation of the global upswing which might, however, lose its dynamics. With a view to the market segments an increase of sales revenues of between 5 % and 15 % is expected for the Fiscal Year 2011. This forecast also draws on the fact that Schweizer starts the Fiscal Year 2011 with orders in hand of more than 120 Mio. Euro.

Schweizer Electronic AG will publish the complete and audited results for the Fiscal Year 2010 on Wednesday, April 27, 2011.