-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Schweizer Electronic AG Reports Weaker Business Performance
July 28, 2020 | Schweizer Electronic AGEstimated reading time: 1 minute
Due to the effects of the COVID-19 pandemic, preliminary figures show that SCHWEIZER's business performance in the first half of 2020 was significantly weaker than in the previous year. According to preliminary figures, the SCHWEIZER Group achieved consolidated sales of EUR 45.4 million in the first half of 2020 (1st HY 2019: EUR 60.2 million). This corresponds to a decrease of -24.7 per cent. EBITDA (earnings before interest, taxes and depreciation) amounted to EUR -5.6 million in the first half of the year (1st HY 2019: EUR +1.0 million). The EBITDA ratio is therefore -12.4 per cent (1st HY 2019: +1.7 per cent). EBIT (earnings before interest and taxes) amounted to EUR -9.5 million according to preliminary figures (2019: EUR -2.3 million). This includes non-recurring effects, in particular from the restructuring of EUR 1.1 million.
Production started at the new plant in China in April. From this, we expect clearly positive stimuli from 2021. Nevertheless, the plant has not yet contributed positively to Group net income during the start-up phase.
Findings about the expected course of the current financial year have now stabilised, so we have decided to limit our current forecast to one scenario (previously: rather optimistic and rather pessimistic scenario). On this basis, we expect a decline in Group sales in a range from -23 per cent to -28 per cent (previously in the rather pessimistic scenario -20 per cent to -25 per cent). This corresponds to sales of around EUR 87 million to EUR 93 million.
Furthermore, we expect an EBITDA ratio between -8 per cent and -12 per cent (previously in the rather pessimistic scenario -4 per cent to -8 per cent) for the current financial year. This corresponds to an EBITDA of around EUR -7 million to EUR -11 million.
Management is planning to extensively expand the cost-saving measures introduced in 2019 in the area of material and personnel costs at the Schramberg site. This primarily involves further staff reduction, adjustment of investment plans and further measures in the area of material costs. Start-up in China will take place in accordance with capacity utilization.
Suggested Items
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
Celestica Announces Q1 2024 Financial Results
05/01/2024 | CelesticaCelestica Inc., a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2024 (Q1 2024).
NASA’s Optical Comms Demo Transmits Data Over 140 Million Miles
04/30/2024 | NASA JPLNASA’s Deep Space Optical Communications experiment also interfaced with the Psyche spacecraft’s communication system for the first time, transmitting engineering data to Earth.
Plexus Announces Fiscal Q2 Financial Results
04/30/2024 | Plexus Corp.Plexus Corp. announced financial results for our fiscal second quarter ended March 30, 2024, and guidance for our fiscal third quarter ending June 29, 2024.
SCHWEIZER Confirms Group Figures and Outlook for 2024
04/29/2024 | SCHWEIZERSCHWEIZER announces the publication of the annual report for 2023 and confirms the preliminary figures. The SCHWEIZER-Group (according to IFRS) generated sales of EUR 139.4 million in 2023 (previous year: EUR 131.0 million).