SCHWEIZER ELECTRONIC AG
DGAP-Ad-hoc: Schweizer Electronic AG / Key word(s): Half Year Results/Change in Forecast Schramberg, August 03, 2017 - The SCHWEIZER Group was able to boost its turnover by 6.8% to 61.9 million euro in the first half year 2017 (2016: 58.0 million euro). The turnover increase was achieved across all market regions, but Asia contributed to the largest extent with a 50% sales growth against previous year's period. The operating EBITDA (earnings before interest, taxes, depreciation and amortisation) before one-off special factors came up to 5.0 million euro, corresponding to an EBITDA margin of 8.1%. The result, however, was burdened by two one-off special factors. First of all, precautionary accruals of 1.0 million euro had to be created for covering litigation costs. Furthermore, exchange rate-related expenditure arose within the termination process of the energy business. Considering these one-off extraordinary effects, the Group EBITDA amounted to 3.6 million euro in the first half year 2017 (2016: 4.6 million euro). This corresponds to an EBITDA margin of 5.8%. The prospective Group EBIT (earnings before interest and taxes) amounts to -0.4 million euro (2016: 0.9 million euro). The prospective period result was additionally burdened by tax reserves of 0.6 million euro and amounted to -1.1 million euro against 0.5 million euro the year before. Despite these special factors, SCHWEIZER remains optimistic in view of its future business development. This is justified in view of an order book which amounts to 160 million euro based on the company's solutions in the fields of sensor applications and CO2 reduction. Therefore, we increase our turnover forecast for the business year 2017 to a growth of 3% to 5% (before 2% to 4%). Against the background of the one-off extraordinary expenses of the first half year 2017, we expect an EBITDA margin of 7% to 8% (before 8% to 9%). Final, audited figures for the first half year 2017 will be disclosed on August 14, 2017.
Explanations to Financial Figures are available at: https://www.schweizer.ag/en/investor-relations/company-key-figures/explanations-financial-figures.html
Contact: Information and Explanation of the Issuer to this News: About Schweizer With 787 employees SCHWEIZER achieved sales of 116.1 million euro in Fiscal Year 2016 (ending December). 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').
03-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Schweizer Electronic AG |
| Einsteinstraße 10 | |
| 78713 Schramberg | |
| Germany | |
| Phone: | 07422-512-301 |
| Fax: | 07422-512-397 |
| E-mail: | ir@schweizer.ag |
| Internet: | www.schweizer.ag |
| ISIN: | DE0005156236 |
| WKN: | 515623 |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| End of Announcement | DGAP News Service |
598605 03-Aug-2017 CET/CEST
