DGAP-News Schweizer Electronic AG: Business performance in the first quarter of 2021
DGAP-News: Schweizer Electronic AG / Key word(s): Quarterly / Interim Statement
Schweizer Electronic AG: Business performance in the first quarter of 2021
- Incoming orders doubled compared to the same quarter of the previous year
- Sales up 6.9 percent in the first quarter
- EBITDA ratio increased moderately to -6.2 percent due to increased construction costs of the plant in China
- Forecast for 2021 confirmed - management remains optimistic
Schramberg, 7 May 2021 - Despite the effects of the Covid-19 pandemic the SCHWEIZER Group was able to benefit from the global economic recovery.
Incoming orders in the first quarter of 2021 exceeded those of the same quarter in the previous year by +98 percent and amounted to EUR 44.2 million (Q1 2020: EUR 22.3 million). The economic recovery, which had already begun in October of the previous year, was also uninterrupted in the course of the first quarter. The order book amounted to EUR 125.7 million at the end of the first quarter of 2021 (31/12/2020: EUR 109.2 million).
Sales of the SCHWEIZER Group amounted to EUR 29.3 million in the first quarter of 2021 (Q1 2020: EUR 27.4 million). This corresponds to an increase of +6.9 percent compared to the same quarter in the previous year, which did not show any noticeable effects of the pandemic. Automotive customers generated sales of EUR 23.0 million (Q1 2020: EUR 19.1 million), which corresponds to an increase of +20.3 percent compared to the same quarter in the previous year. As a result, the share of sales of the most important customer group (automotive) increased to 78.5 percent of sales in the first quarter (Q1 2020: 69.7 percent) and the share of sales of industrial customers amounted to 16.9 percent (Q1 2020: 22.6 percent).