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Schweizer Posts H1 Revenue Down 6%

Published: 30 July 2019
 by Chelsey Drysdale

SCHRAMBERG, GERMANY – Schweizer Group reported revenue of $67.1 million in the first half, down 5.7% year-over-year. First quarter revenue was down 8.5%.

EBITDA for the first half was $1.1 million, a decrease of 84.8% compared to the first six months of 2018. The firm recorded a loss before interest and taxes of $2.6 million, compared to EBIT of $3.1 million in the same period last year.

Schweizer continues to invest in chip embedding and a technology plant in China, and the board has started a program for cost-reduction.

The company expects 2019 revenue of $133.8 million to $139.4 million.

Final first-half results will be published on Aug. 9.

 

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