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DGAP-News: Schweizer Electronic AG / Key word(s): Annual Results
Schweizer Electronic AG: confirms consolidated figures for 2021 and outlook for 2022
- Turnover increased by 25 percent compared to the previous year
- EBITDA in line with expectations
- Outlook 2022 - Sales growth between 10 and 20 percent, further improvement in operating results - potential effects due to geopolitical situation cannot be ruled out
Schramberg, 22 April 2022 - Today SCHWEIZER publishes the full report for the 2021 financial year and confirms the preliminary figures. The Schweizer Group (in accordance with IFRS) achieved sales of EUR 122.7 million in 2021 (previous year: EUR 98.3 million). This corresponds to an increase of almost 25 percent compared to the previous year, which was made possible by significant market share gains. This growth trend is supported by incoming orders in 2021 to the amount of EUR 175.2 million (previous year: EUR 78.4 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to EUR -8.5 million (2020: EUR -9.5 million). The EBITDA ratio improved compared to the previous year to -6.9 percent (2020: -9.7 percent). The Group excluding China achieved EBITDA of EUR +9.1 million in 2021. This means that both the development of sales and EBITDA are within the company's expectations. As of 31 December 2021, the equity ratio was 5.3 percent (previous year: 17.4 percent). Taking into account the shareholding (completed in January 2022) in the SCHWEIZER Chinese subsidiary of strategic partner WUS Printed Circuit (Kunshan) Co., Ltd. based in China (WUS), the equity ratio amounts to 10.5 percent. The holding occurred as part of a capital increase, whereby the SCHWEIZER Group received equity of EUR 10.5 million.
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
The full report for the 2021 financial year is available from today at www.schweizer.ag in the Investors & Media/Annual Report section or at https://schweizer.ag/investoren-und-medien/geschaeftsbericht/downloads-berichte.
Group figures compared to the previous year
The company was founded by Christoph Schweizer in 1849 and is listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol "SCE", "ISIN DE 000515623").
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22.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Schweizer Electronic AG
Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange
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