Citation
(2013), "Schweizer AG announce trading figures for 2012", Circuit World, Vol. 39 No. 2. https://doi.org/10.1108/cw.2013.21739baa.002
Publisher
:Emerald Group Publishing Limited
Copyright © 2013, Emerald Group Publishing Limited
Schweizer AG announce trading figures for 2012
Article Type: Industry news From: Circuit World, Volume 39, Issue 2
The annual sales of €100.2 Mio. exceeded Schweizer Electronic AG’s expectation. This was caused by the improved sales in the fourth quarter. Sales with customers in the automotive industry were €65.3 Mio. (previous year €58.7 Mio.), the highest in the company’s history yet.
In the year 2012 Schweizer achieved an operating result before interest and taxes (EBIT) of €5.2 Mio. (previous year €8.3 Mio.). The growing share of innovative products has a positive impact on the added value. However, expenses for material as well for manufacturing and quality assurance processes rose, caused by an increased complexity of produced PCBs. The result of the fiscal year 2011 was favoured by the reversal of various accruals for contingent liabilities of about €1.2 Mio. This special effect did not occur in the reporting period. This fact alone explains nearly 40 percent of the decline in results compared to the previous year.
The annual result of €0.7 Mio. Was below the results of the previous year (€6.5 Mio.). A devaluation of the share in Meiko Electronics by €2.8 Mio. burdened the financial result. In the meantime, PCB industry experienced a significant and sustained reduction of its evaluation on the capital market. This has led to the fact that the share in Meiko Electronics had to be adjusted to the year-end price of the Meiko share. Thus, the share in Meiko has been evaluated with €1.8 Mio. (previously €4.6 Mio.) in our financial assets.