Schweizer Electronic AG: Preliminary Group Figures for 2022 and Outlook for the Year 2023

Reading time ( words)

Based on preliminary and as yet unaudited figures, the SCHWEIZER Group achieved consolidated revenues of 131.0 million Euro for the 2022 financial year. This corresponds to an increase of 6.8% compared to the previous year (forecast: +5% to +10%).

The EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to -12.3 million Euro, which corresponds to a rate of -9.4% (forecast: -4% to -8%) and was thus below our expectations. The start-up losses of the Chinese subsidiary and the overall increase in energy and material prices, especially in Germany, had a particularly negative impact on the result.

Equity decreased to -8.8 million Euro, which corresponds to an equity ratio of -5.5% (31.12.2021: +5.3%), mainly due to the negative consolidated result. Thus, the forecast equity ratio in a range of 6% to 11% could not be achieved. The forecast was made sub-ject to the entry of a new investor in Schweizer Electronic in China by the end of the year. As reported, the investor WUS Printed Circuit (Kunshan) Co., Ltd, based in China, signed a Share Transfer agreement for the majority takeover of Schweizer China on 22 December 2022, but it will only become effective in 2023 after approval by the share-holders' meeting of WUS. Thus, the signing of the purchase agreement in 2022 did not yet have a positive effect on equity.

Compared to the previous year, the consolidated result decreased by EUR -7.3 million to EUR -33.5 million Euro (2021: EUR -26.2 million). 

The fact that SCHWEIZER is in the phase of implementing the majority sale of the Chinese unit Schweizer Electronic (Jiangsu) Co., Ltd. has a significant influence on the forecast for 2023. The forecast assumes that the contract with the investor WUS Printed Circuit (Kunshan) Co., Ltd. will be closed in April 2023. Under this assumption, revenue growth of between +5% and +10% compared to the 2022 financial year and an EBITDA ratio of between +4% and +6% are expected. Due to the deconsolidation of the Chinese unit, the management expects to close the 2023 financial year with a Group equity ratio of between +25% and +30%.


Suggested Items

TTM Technologies Reports Fiscal Q4, 2022 Results

02/09/2023 | Globe Newswire
TTM Technologies, Inc., a leading global manufacturer of technology solutions including engineered systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and printed circuit boards (PCB), reported results for the fourth quarter and fiscal 2022, which ended on January 2, 2023.

An Update on Walt Custer’s EIPC Business Outlook Webinar

10/12/2020 | Pete Starkey, I-Connect007
“We’re not out of trouble yet, but it’s a whole lot better than a couple of months ago.” Walt Custer’s business outlook update, with emphasis on the European electronics industry, attracted a capacity audience to EIPC’s webinar on October 2. Pete Starkey details how it wasn’t all bad news.

Day-to-Day: ZTE and the Potential Impending Trade War Saga

06/14/2018 | Gene Weiner, Weiner International Inc.
Nanya Technology, Taiwan's biggest DRAM chipmaker, will apply for a permit to provide chips to ZTE. The company said it has been notified about restrictions on shipments to ZTE, and that the ban would have limited effect on its operation. The company said on May 9 that it is preparing to apply for a permit to continue shipping chips to ZTE Corp. as export restrictions took a new turn due to a US-China trade spat.

Copyright © 2023 I-Connect007 | IPC Publishing Group Inc. All rights reserved.