SCHRAMBERG, GERMANY – Schweizer Electronic reported first-half sales rose 8.3% year-over-year to 59.9 million euros ($65.7 million) on rising demand for higher tech products.

Sales of innovative technology products grew 24.8% to 30.2 million euros during the period.

EBIT (earnings before interest and tax) fell 21.3% to to 3.7 million euros, a margin of 6.2%. EBIT before special items was 5.4 million euros, a margin of 9%, up 50 basis points year-over-year.

Sales at its plant in Schramberg rose 6.1% to 53.7 million euros, while sales related to its partner network in Asia jumped 31.9% to 6.2 million euros. Germany remained the company's largest market, with a share of 61.4%. Business in America doubled to 5.7 million euros during the period.

Schweizer announced its withdrawal from photovoltaic cells and modules manufacturing due to "the continuously critical overall situation" of the PV market. It will continue to fabricate printed circuit boards with power inverters for the solar industry.

“We are very happy with the business development during the first six months of this fiscal year,” says Dr. Maren Schweizer, CEO. “Besides the stable automotive business, order income rose in particular in the industry and communication sectors. Our additional production capacities in Asia are undergoing the last phase of their customer qualification process, meaning we will be able to access further capacities for series productions from 2016 onwards. Having withdrawn from the business field energy, we will now dedicate ourselves with even more emphasis to the expansion of our business field Electronic and the building up of the business field Systems together with Infineon.“

The company upped its sales forecast for 2015 to 5 to 7% growth, from its prior estimate of 3 to 5% growth. Operating EBIT margin before special items will be 8 to 9%, or 9.2 million to 10.6 million euros.

1 EUR = 1.09692 USD

• Prev
• Next