Brief: Schweizer Electronic Adjusts FY Forecast

Schweizer Electronic AG

23/07/2021 14:59

July 23 (Reuters) - SCHWEIZER ELECTRONIC AG  SWEGn.DE :
    * PRELIMINARY RESULTS FOR THE FIRST HALF OF 2021 AND
ADJUSTMENT OF
THE FORECAST FOR THE CURRENT FINANCIAL YEAR
    * H1 EBITDA LOSS -5.2 MILLION EUR VERSUS -5.6 MILLION EUR
LOSS
YEAR AGO
    * H1 SALES 59.4 MILLION EUR
    * H1 CONSOLIDATED SALES OF EUR 59.4 MILLION IN FIRST HALF OF
2021
(FIRST HALF OF 2020: EUR 45.4 MILLION)
    * H1 NEW ORDERS INCREASED SIXFOLD AND REACHED EUR 95.9
MILLION
(2020: 15.3 MILLION), RESULTING IN OPEN ORDERS OF EUR 155.4
MILLION
    * H1 PROVISIONAL EBITDA (EARNINGS BEFORE INTEREST, TAXES AND
AMORTISATION) AMOUNTED TO EUR -5.2 MILLION (FIRST HALF OF 2020:
EUR -5.6 MILLION)
    * CONTINUES TO EXPECT SALES GROWTH OF +20 TO +30 PERCENT FOR
2021,
WHICH CORRESPONDS TO SALES OF EUR 120 TO 130 MILLION
    * PREVIOUS EXPECTATION FOR EBITDA RATIO CANNOT BE FULLY
MAINTAINED
    * OUTLOOK 2021: NOW EXPECTS AN EBITDA RATIO OF -5 TO -10
PERCENT
(PREVIOUSLY 0% TO -6%)
    * NEW EBITDA RATIO OUTLOOK DUE TO SUSTAINED UNFAVOURABLE
PRICE
DEVELOPMENT OF RAW MATERIALS AND SUPPLIES AND STRICT TRAVEL
RESTRICTIONS TO CHINA

Source text for Eikon:  ID:nEQ9KP66na 
Further company coverage:  SWEGn.DE 

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