SCHRAMBERG, GERMANY – Schweizer Electronic reported sales in the first three quarters of 2021 were €90.3 million (US$104.6 million), up 30.9% year-over-year and 2.9% sequentially, heavily influenced by the effects of the Covid-19 pandemic.

EBITDA was to €-6.9 million, compared to €-7.9 million in the same period last year. Excluding China, the group achieved EBITDA of €6 million, corresponding to an operating profit improvement of €6.2 million, excluding extraordinary expenses of €1.8 million, which impacted earnings in the same period of the previous year.

The Schramberg plant and the new China plant generated revenue from in-house production of €66 million, an increase of 33.9% year-over-year. Sales of products via the company’s Asian partner network rose 23.4% to €24.3 million.

New orders in the first three quarters of 2021 were significantly higher than in the same period last year and in the first three quarters of 2019, the firm says. Orders increased 3.3 times compared to the volume of the same period the previous year, amounting to €128.6 million. The book-to-bill ratio was 1.4, meaning €140 worth of orders were received for every €100 worth of boards shipped.

At the end of the third quarter, the order book was €164.6 million, up 50.7% compared to Dec. 31. The semiconductor shortage influenced orders of the company’s strongest customer group, the automotive industry, and contributed to a slightly lower order momentum in the third quarter.

The fourth quarter is expected to see a slowdown in the economy and therefore lower sales momentum. For 2021, the firm expects sales to increase 20% to 30%.

Ed.: €1 = US$1.16

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