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SCHWEIZER Announces Preliminary Group Figures for 2023 Financial Year
March 27, 2024 | Schweizer Electronic AGEstimated reading time: 1 minute
The preliminary and unaudited results of the SCHWEIZER Group confirm the major and successfully completed turnaround in 2023. Sales rose to a record of EUR 139.4 million, exceeding expectations with an increase of 6.4 percent. This growth was made possible by a strong fourth quarter.
Gains from the deconsolidation of Schweizer Electronic (Jiangsu) Co., Ltd., China and an operational turnaround in business results led to an EBITDA of EUR 47.4 million (forecast: around EUR 50 million). This confirmed the high profits from the sale of the majority stake in the Chinese unit to WUS Printed Circuit (Kunshan) Co., Ltd., China. Excluding the positive one-off effects of the deconsolidation, EBITDA amounted to EUR 8.9 million (6.4% of sales). This was slightly below the EBITDA forecast of 7 to 9 percent.
Net gearing improved significantly to 64.2% (expectation 50 to 70%), as did the equity ratio, which amounted to 24.3% (previous year -5.5%)
Contrary to the market, SCHWEIZER also expects growth in 2024. We anticipate sales in a range of EUR 140 to 150 million (up to plus 10%), which will be made possible primarily by the start of large-scale production of the embedding technology for applications in automotive hybrid drive systems. This is a market segment that is currently developing very promisingly.
The audited figures as well as a comprehensive overview of the Group's development in the past financial year 2023 and a detailed forecast for the current financial year will be announced in the context of the publication of the annual report on 29 April 2024.
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04/29/2024 | Alun Morgan, EIPCAlun Morgan, president of EIPC, issued a letter last week in an effort to raise awareness of the state of PCB manufacturing in Europe. He writes, "The European PCB manufacturing industry and its supply base has been steadily shrinking since the dot com crash at the start of the millennium. European demand for PCBs and assemblies has, however, continued to grow, thus creating an ever-widening gap between European domestic capacity and consumption. The risks posed by this imbalanced supply and demand pattern came into sharp focus during the Covid-19 pandemic which caused chaos in extended supply chains across the world and resulted in widespread shortages."
SCHWEIZER Confirms Group Figures and Outlook for 2024
04/29/2024 | SCHWEIZERSCHWEIZER announces the publication of the annual report for 2023 and confirms the preliminary figures. The SCHWEIZER-Group (according to IFRS) generated sales of EUR 139.4 million in 2023 (previous year: EUR 131.0 million).
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SMT Prospects and Perspectives: AI Opportunities, Challenges, and Possibilities, Part 1
04/17/2024 | Dr. Jennie Hwang -- Column: SMT Perspectives and ProspectsIn this installment of my artificial intelligence (AI) series, I will touch on the key foundational technologies that propel and drive the development and deployment of AI, with special consideration of electronics packaging and assembly.