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Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited
SCHWEIZER successfully started into the fiscal year 2011
Article Type: Industry news From: Circuit World, Volume 37, Issue 3
In the first quarter 2011 Schweizer Electronic AG continued the dynamic growth they began with in the past year. With the last financial year showing record figures, sales in the first quarter of 2011 have significantly exceeded expectations. With sales of 29.1 (previous year 23.9) mio. Euro, a plus of 22 per cent compared to the corresponding quarter of the previous year, the company impressively underlines this.
Sales generated via the partner network could also be significantly increased and were, with 2.7 mio. Euro, fourfold higher compared to the corresponding quarter of the previous year. This is particularly impressive against the background of the catastrophe in Japan as the strategic partner Meiko Electronics Co., Ltd had been affected by the impacts of the Tsunami and the nuclear catastrophe. As SCHWEIZER is exclusively being served by the Chinese factories of MEIKO, this does not have any effect on the operational cooperation between both companies.
Following temporary supply shortages in the previous year, SCHWEIZER’s Management strongly focused on the improvement of delivery reliability for customers in the past months. Investments in bottleneck areas as well as the introduction of an optimized production planning system significantly improved delivery reliability. For orders which are extremely urgent the company introduced a Fast Path Lane.
In the meantime, SCHWEIZER comes up with an excellent structure of the balance sheet. The ongoing profit situation is accompanied by an enhanced debt relief of the company. Net gearing only amounted to 7 per cent of own capital. Equity ratio is at 50 per cent (previous year 30 per cent). Total property of SCHWEIZER has grown to 78.8 (previous year 54.2) mio. Euro. Despite pending challenges the company looks positively at the development of the current fiscal year. SCHWEIZER encounters possible uncertainties with regards to a truly self-supporting global upswing, recent incidents in North Africa and Japan and further cost pressure through increasing prices on the procurement side with a continuously low fixed cost base and flexible cost structures.
“We are in good shape and have the skills as well as the expertise to also continue our successful journey in a slowed-down growth environment.“, says Dr Marc Schweizer, CEO of Schweizer Electronic AG.
Against this background, the company expects a sales increase to up to 110-120 mio. Euro with an EBIT margin of 9-10 per cent (Q1/2011: 9 per cent) for fiscal year 2011. Thus, the predicted sales correspond to a growth of 5-15 per cent compared to the previous year. Last week SCHWEIZER published their annual report for the fiscal year 2010.
Schweizer Electronic AG (WKN 515623) is one of the top three PCB manufacturers in Europe with recognized technology and consulting expertise in the field of automobile, solar and industrial electronics. The company was established in 1849 and is currently managed by the sixth generation of the family (www.morethanPCBs.com).