Brief: Schweizer Electronic FY Group EBIT Turns To Loss Of EUR 6.5 Million

Schweizer Electronic AG

18/03/2020 13:30

March 18 (Reuters) - SCHWEIZER ELECTRONIC AG  SWEGn.DE :
    * TURNOVER OF 120.7 MILLION EURO FOR FISCAL YEAR 2019 WHICH
IS AT
LOWER END OF PROJECTED RANGE OF 120 - 125 MILLION EURO
    * FY EBITDA (EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION
AND
AMORTISATION) OF 0.1 MILLION EURO (PREVIOUS YEAR: 9.2 MILLION
EURO)
    * FY GROUP EBIT (EARNINGS BEFORE INTEREST AND TAXES)
AMOUNTED TO
-6.5 MILLION EURO (PREVIOUS YEAR: 1.6 MILLION EURO)
    * CONSTRUCTION OF PRODUCTION AND ADMINISTRATIVE BUILDING
COULD BE
FINALISED IN YEAR 2019 ACCORDING TO PLAN
    * DESPITE OUTBREAK OF CORONA VIRUS, ALL EMPLOYEES COULD HAVE
RETURNED TO THEIR WORKPLACE IN MEANTIME
    * POSITIVE EFFECTS FROM 2019 COST SAVINGS WILL HAVE THEIR
FULL
IMPACT IN YEAR 2020

Source text for Eikon:  ID:nEQ7jmNpZa 
Further company coverage:  SWEGn.DE 

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