DGAP-News

Schweizer Electronic AG: Schweizer Electronic AG: confirms consolidated figures for 2021 and outlook for 2022 - Seite 2

Nicolas-Fabian Schweizer, CEO of Schweizer Electronic AG, said: "The past financial year has once again brought many challenges. Even though the general conditions have been different to what we expected in the past two years, we are still very satisfied with what we have achieved. The restructuring of the Schramberg site, which began in 2020, was very successful. After a loss-making year, we were able to achieve a successful turnaround and bring the Schramberg site back into the profit zone in 2021. In 2022, we will continue on this path."

Marc Bunz, Chief Financial Officer, added: "We also expect positive momentum for our business volume in 2022. This expectation is driven by the ongoing ramp-up of our Chinese plant and increased capacity utilization at the plant in Schramberg. Profitability will be clearly determined by development at the Chinese plant, in line with 2021. On the balance sheet, our focus is on strengthening the equity base, especially at our Chinese subsidiary."

Development in the fourth quarter
In the fourth quarter, the Group's operating results largely improved compared to the previous quarters. In particular, gross profit recovered significantly to EUR -0.3 million. This can be ascribed in particular to the measures implemented in the new plant in China to reduce local losses. With consolidated sales of EUR 32.4 million, an EBITDA ratio of -4.9 percent was achieved in the fourth quarter. An adjustment to the deferred tax credit for the plant in China, on the other hand, led to an after-tax loss of EUR -8.6 million in the final quarter of 2021.

Schweizer Electronic AG
The results of Schweizer Electronic AG (according to HGB) in Schramberg recorded a very positive development. In 2021, turnover was EUR 90.6 million, an increase of 19 percent compared to the previous year. This was achieved despite the still very difficult European market environment. The clear turnaround was evident in the earnings situation. After a loss in the two previous years, the operating profit (EBIT) amounted to EUR +2.0 million, which corresponds to an improvement of EUR +9.5 million compared to the previous year. The equity ratio of the individual company rose to 43.8 percent (previous year: 41.8 percent).