Brief: Schweizer Electronic 9-month EBITDA Loss Narrows To EUR 6.9 Mln

Schweizer Electronic AG

05/11/2021 07:08

Nov 5 (Reuters) - SCHWEIZER ELECTRONIC AG  SWEGn.DE :
    * BUSINESS DEVELOPMENT IN THE THIRD QUARTER 2021
    * SALES IN FIRST THREE QUARTERS OF 2021 AMOUNTED TO 90.3
MILLION
(9M 2020: EUR 69.0 MILLION)
    * INCOMING ORDERS IN FIRST THREE QUARTERS OF 2021 INCREASED
BY 3.3
TIMES COMPARED TO VOLUME OF SAME PERIOD PREVIOUS YEAR AND
AMOUNTED TO EUR 128.6 MILLION (9M 2020: EUR 38.7 MILLION)
    * 9-MONTH EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND
AMORTISATION (EBITDA) AMOUNTED TO EUR -6.9 MILLION (9M 2020: EUR
-7.9 MILLION)
    * EXECUTIVE BOARD THEREFORE EXPECTS LOWER SALES MOMENTUM IN
Q4.
DUE TO SALES TREND IN FIRST NINE MONTHS, EXECUTIVE BOARD
NEVERTHELESS CONFIRMS FORECAST FOR FINANCIAL YEAR AND EXPECTS A
SALES INCREASE IN LOWER RANGE OF +20 TO +30 PERCENT
    * EXECUTIVE BOARD CONFIRMS FORECAST FOR EBITDA RATIO OF -5
TO -10
PERCENT. RATIO IS LIKELY TO BE IN MIDDLE OF RANGE
    * EXECUTIVE BOARD CAN CONFIRM PREVIOUS FORECAST OF EQUITY
RATIO
BETWEEN 10 AND 15 PERCENT FOR GROUP IF SALE OF SHARES IN CHINESE
SUBSIDIARY TO AN INVESTOR CAN BE CARRIED OUT IN THIS FINANCIAL
YEAR. FROM TODAY'S PERSPECTIVE OF STATUS OF NEGOTIATIONS,
CONCLUSION OF A CORRESPONDING TRANSACTION IS CONSIDERED MORE
LIKELY

Source text for Eikon:  ID:nEQ2MFfNGa 
Further company coverage:  SWEGn.DE 

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