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28 August 2018

Schweizer Electronic AG

 SCHWEIZER lays cornerstone for new production site in Jintan

 Accompanied by a festive ground-breaking ceremony and in the presence of the Government of Jintan, Schweizer Electronic AG laid the cornerstone for its new high-technology production site in Jintan/Jiangsu Province (China) on August 08, 2018.

Covering a production area of in total 90,000 square metres, the new plant will start operation in 2020 focussing in particular on power electronic and embedding applications for the automotive sector. After completion of the construction phase which is scheduled to last 18 months, the set-up of the new production capacities will be carried out in three ramp-up phases, each with a capacity of 1,200 square metres PCBs per day. This is equivalent to the capacity of the Schramberg production site today. The total investment will amount to €150 million over the next ten years to enable group sales to jump to up to € 500 million.

In November 2017 SCHWEIZER had signed a corresponding investment agreement with the Government of Jintan and just one month later founded the new company Schweizer Electronic Jiangsu(China). The official approvals of the Chinese Environmental and Construction Authorities have been obtained and financing of the first two construction phases has already been secured. For the financing two bank consortia were set up in Germany and China, providing credit lines of $ 120 million.

Schweizer Electronic AG will continue to develop and manufacture high technology PCBs in its German production site in Schramberg. Using the additional capacities in Jintan, the company will further exploit the world-wide market potential for high-power and embedding applications by providing its customers with innovative, high-quality PCB and embedding solutions and address the the fast-growing Chinese market.

Those present were (L-R):-

  • Mr. Qi Li, Director of Jintan Jincheng Science and Technology Industrial Park Management Committee, Mayor of Jintan Jincheng people’s Government
  • Mr. Michael Kowalski, Chairman of the Supervisory Board of Schweizer Electronic AG           
  • Mr. Longqing Dong, Standing Committee of the Jintan District Committee of Changzhou, Secretary of the Party Working Committee of Jincheng science and Technology Industrial Park, Secretary of the Party Committee of Jintan Jincheng Town, Jintan District
  • Mr. Marc Bunz, Executive Board Schweizer Electronic AG               
  • Mr. Nicolas Schweizer, Executive Board Schweizer Electronic AG
  • Mr. Yibo Liang, Deputy Mayor of the Changzhou Municipal People’s Government
  • Mr. Dong Shen, Deputy Secretary of the District Committee of Jintan, Changzhou, Chief of the people’s Government of Jintan District, Changzhou
  • Mr. Alfred Pang, Vice President Operations Schweizer Electronic AG
  • Mr. Xinsheng Zhou, Deputy District Chief of Jintan District, Changzhou
  • Mr. Chris Wu, Board member and shareholder of Schweizer Electronic AG
  • Mr. Erik Greger, Vice President Technology & Business Development, Schweizer Electronic AG
  • Mr. Edwin Boeckeler, Director Operational Excellence, Schweizer Electronic AG

 

 

 

Schweizer Electronic confirms good figures for the 1st Half Year 2018

· EBITDA jumped by 83 percent to 6.6 million euro

  • · Incoming orders rose by almost 20 percent to 76.7 million euro
  • · EBITDA forecast was revised upwards to between 11 and 12 million euro

 The SCHWEIZER Group closed the first half year 2018with a turnover growth to 63.9 million euro (2017: 61.9 million euro). The EBITDA (earnings before interest, taxes, depreciation and amortisation) jumped to 6.6 million euro (2017: 3.6 million euro), and the EBITDA ratio increased to 10.3 percent (2017: 5.8 percent) in the first

half year 2018. The Group EBIT (earnings before interest and taxes) amounted to 2.8 million euro (2017: -0.4 million euro) and thus improved by 3.2 million euro against last year’s period. The group result rose to 1.9 million euro after a loss of 1.1 million euro in the first half year 2017.

 

The worldwide demand for passive components increased significantly over the last

months and has already led to delayed customer call-offs also by SCHWEIZER customers. Despite these bottlenecks concerning passive components, our sales with automotive customers increased by 0.8 million euro to 44.1 million euro. Sales with industry customers grew by 7.7 percent or 1.1 million euro to 15.3 million euro. Total turnover in the second quarter 2018 was particularly strong at SCHWEIZER with a plus of 8.8 percent compared to the previous year’s quarter. We expect further growth in the second half year so that the turnover forecast of slightly below 130 million euro for the fiscal year 2018 is realistic.

SCHWEIZER has established itself as indispensable specialist for power electronics and sensors and thus is a vital partner for its automotive customers when it comes to a cost optimised and reliable implementation of solutions in the field of electro mobility and CO2 efficiency as well as autonomous driving. Also for customers from industry electronics our technologies play an increasingly important role, so we could benefit from the favourable development in these market segments as well in the first half year 2018. This is impressively reflected by our order income which boosted by almost 20 percent against previous year’s level to 76.7 million euro. Therefore, our order book increased to 185.1 million euro by June 30, 2018 (2017: 160.5 million euro). Orders amounting to about 60 million euro are still to be delivered in 2018, while the order book for 2019 already amounts to more than

100 million euro. The strong demand of customers from the automotive sector followed by applications form industry electronics continues unabated.

Marc Bunz, Chief Financial Officer of Schweizer Electronic AG, comments: ”The current delay of customer call-offs triggered by the bottleneck concerning passive components certainly dampens the outlook. However, SCHWEIZER’s actual order book shows that our turnover target of slightly below 130 million euro for 2018 is realistic, so that we continue to expect the turnover growth of 6 to 8 percent. Based on the good outcome of the first half year in combination with the forecasted burdens triggered by the setting up of the production site in China, we also confirm our expectation for the EBITDA of 11 to 12 million euro

for the fiscal year 2018 (prior expectation: 10 million euro). The EBITDA ratio is expected at between 7 and 9 percent, whereby the upper end of the range is rather achievable. “

Explanations to Financial Figures are available at:

https://www.schweizer.ag/en/investor-relations/company-key-figures/explanations-financialfigures

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