SCHRAMBERG, GERMANY – Schweizer Group generated consolidated sales of €45.4 million (US$53.3 million) in the first half of 2020, down 24.6% year-over-year. The printed circuit fabricator cited the effects of Covid-19 for the lower sales.

Net loss before interest, taxes, depreciation, and amortization was €5.6 million, compared to EBITDA of €1 million in the prior year period. Net loss before interest and taxes was €9.5 million compared to net loss before interest and taxes of €2.3 million in the first half of 2019.

Production started on a new China plant in April. From this, Schweizer expects positive impulses from 2021. Nevertheless, the plant does not yet make a positive contribution to the consolidated result during the ramp-up phase. The company now expects a decline in fiscal year consolidated sales in a range of 23% to 28%, corresponding to sales of some €87 million to €93 million. Schweizer also expects a net loss before interest, taxes, depreciation, and amortization down between 8% and 12% (€7 million to €11 million).

Management plans to implement cost-savings measures for material and personnel costs. This involves further staff layoffs, adjustments to investment planning, and other measures. The ramp-up in China will take place according to the occupancy situation.

The final figures for the first half of 2020 will be published Aug. 7.

Ed.: €1 = US$1.17

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