EQS-News

Schweizer Electronic AG confirms Group figures and outlook for 2024

EQS-News: Schweizer Electronic AG / Key word(s): Annual Results Schweizer Electronic AG confirms Group figures and outlook for 2024 29.04.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Schweizer Electronic AG confirms Group figures and outlook for 2024

•   Turnover increases to EUR 139.4 million
•   EBITDA at EUR 47.4 million – high income from deconsolidation
•   Outlook for the year 2024 remains positive

Schramberg, April 29, 2024 – SCHWEIZER today 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). This corresponds to an increase of 6.4% compared to the previous year. This growth was made possible by a strong fourth quarter.

Sales from own production increased slightly compared to the previous year to EUR 93.8 million  (2022: EUR 92.4 million). Sales of products from our strategic partners increased by 18% to EUR 45.6 million (2022: EUR 38.6 million). The share of sales generated by trading goods thus amounts to 32.7% (2022: 29.5%).

Sales of EUR 98.9 million were generated with automotive customers, which corresponds to an increase of +12.6% compared to the previous year. The share of sales with automotive customers is 71.0% (2022: 67.1%). This development reflects the increasing momentum in the automotive sector, after the industry was still severely impacted by supply bottlenecks for electronic components in the previous year.

The order backlog totalled EUR 251.3 million at the end of the reporting year. Of this, an order backlog totalling EUR 152.0 million is due for delivery in 2024.

The gains from the deconsolidation of Schweizer Electronic (Jiangsu) Co., Ltd., China and an operational turnaround in business results led to earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 47.4 million or 34.0%. Adjusted for the result in China and the positive deconsolidation result of the investment in Schweizer Electronic (Jiangsu) Co. Ltd, China, EBITDA of EUR +8.9 million was achieved (2022: EUR +5.0 million). This corresponds to an EBITDA ratio of 6.4%.