Schweizer Electronic AG with record year: expectations exceeded

Citation

(2011), "Schweizer Electronic AG with record year: expectations exceeded", Circuit World, Vol. 37 No. 2. https://doi.org/10.1108/cw.2011.21737bab.008

Schweizer Electronic AG with record year: expectations exceeded

Article Type: Industry news From: Circuit World, Volume 37, Issue 2

Schweizer Electronic AG, No. 3 of Europe’s PCB manufacturers, will close the Financial Year 2010 with the highest sales in its 161 year-old company history. Based on preliminary figures, the technology company achieved sales of 105.4 Mio. Euro (previous year 65.8 Mio. Euro) in 2010, thus sales were 60 per cent above those in 2009.

CEO Dr Marc Schweizer considers the chosen company strategy confirmed: “Our innovation focus meets with high interest on our customers’ side. Schweizer Electronic is a High-Tech-House residing on a very solid base”.

The profit situation of Schweizer Electronic, too, has significantly improved. earnings before interest and tax (EBIT) were with 16.9 Mio. Euro and a margin of 16 per cent clearly above target. Adjusted by special items, EBIT was at 13.1 Mio. Euro, respectively, at 12.5 per cent. “Based on the excellent results in 2010, we will propose to the Supervisory Board to distribute a dividend of 0.42 Euro per share”, says Marc Bunz, CFO of Schweizer Electronic. The final figures will be published on April 27, 2011 and explained during an investor and press conference on May 4, 2011.

The company profits from its strategic positioning and the growth in Asia which creates and secures jobs in Germany. Consequently, Schweizer’s number of employees increased – compared to a low in mid-2009 – within about one-and-a-half years by 103 to 741 persons employed. Following the very positive development, employees – who made concessions in the past years – will participate in the company’s success. This includes the reactivation of various income components. Furthermore, a salary increase of 3 per cent, originally planned for spring 2011, has been pulled forward to January 1, 2011. For the staff, this is the highest income improvement in the past eight years.

Furthermore, Schweizer Electronic has increased its expenditure for research, development and investments by 56 per cent. Spending was at about 4.1 Mio. Euro (previous year 2.6 Mio. Euro) and will serve the enlargement of the product portfolio, the optimization of production and the strengthening of the site Schramberg.

For 2011 the company anticipates a continuation of the global upswing which might, however, lose is dynamics. With a view to the market segments, an increase of sales revenues of between 5 and 15 per cent is expected for Fiscal-Year 2011. This forecast also draws on the fact that Schweizer starts the Fiscal-Year 2011 with orders in hand of more than 120 Mio Euro.

Schweizer’s management does, however, not intend to rest on their last year’s successes. The “Turnarounder of the Year 2010” is currently reviewing options to diversify into new business areas.

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