SCHRAMBERG, GERMANY -- Schweizer Group reported improved fourth quarter operating results on group sales of 32.4 million euros.

The gross loss improved 300,000 euros, in part due to measures implemented in the new plant in China to reduce local losses.

For the year, Schweizer reported sales of 122.7 million euros, up 25% from 98.3 million euros the year before on significant gains in market share.

Orders rose more than doubled to 175.2 million euros over the period, the printed circuit board fabricators added. EBITDA was -8.5 million euros, an improvement of 1 million euros year-over-year. EBITDA ratio improved to -6.9% from -9.7%. Excluding China, the company EBITDA was 9.1 million euros in 2021.

Schweizer Electronic in Schramberg reported sales of 90.6 million euros, up 19% from a year ago. Operating profits rose to 2 million euros, up 9.5 million euros.

Schweizer said financial visibility for 2022 is difficult to assess due to geopolitical situations and intensified pandemic measures in China.

"Despite the very high order backlog, there is a great deal of uncertainty. Taking into account the currently known opportunities and risks, the Executive Board expects further sales growth of 10 to 20% for 2022. The start of series production of embedding technology will contribute to this, among other things. It is expected that rising energy and commodity prices will make it more difficult to improve operating results. The EBITDA ratio is expected to be between -4 and 1%. Ongoing measures to improve earnings will continue unabated. The expectation for the equity ratio is between 6 and 11%. Further capital measures are planned for this purpose."

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