Sales at Schweizer in the first quarter 2012 exceed expectations
Article Type: Industry news From: Circuit World, Volume 38, Issue 3
Schweizer Electronic AG started into the current fiscal year with robust results, despite the continuous weak solar market. In the first quarter 2012 sales volume amounted to €28.4 million (previous year €29.1 million)and thus exceeded the company’s expectations by about 10 per cent. Earnings before interest and tax (EBIT) accounted for €2.2 million (previous year€2.7 million). EBIT margin was thus at 8 per cent (previous year 9 per cent).
Sales were mainly split up into three customer segments. With 65 per cent(previous year 55 per cent) the automotive segment achieved an outstanding share in total sales and therefore accounted for the biggest growth, followed by the industry segment with 19 per cent (previous year 16 per cent). Due to shifts in markets and further increasing price pressure the solar segment only had a share of 10 per cent (previous year 22 per cent).
During the reporting period SCHWEIZER invested €5.2 million. Thereof€4.3 million have been allotted to the capital payment for the division Energy into SCHWEIZER Pte. Ltd in Singapore and €0.9 million to tangible assets of the division Electronic. Funds that have been paid for setting-up the division Energy had been acquired in the context of a capital increase at the end of 2010.
