Schweizer Electronic AG: Adjusted Outlook for 2024

Schramberg, July 12, 2024 – Schweizer Electronic AG has revised its forecast for the 2024 financial year based on preliminary results for the first half. While the sales forecast remains stable at EUR 140 to 150 million, EBITDA expectations have been significantly reduced from EUR 10-11 million to EUR 2-5 million.

The company's embedding technology for hybrid drive vehicles is performing well, benefiting from the lower demand for battery electric vehicles. However, the overall economic situation in Germany, particularly in the automotive industry, has negatively impacted capacity utilization at the Schramberg plant.

The weaker earnings forecast also affects the equity ratio, now expected to be between 20-25%, down from 25-28%. Despite positive developments in trading with Asian partners, these gains are insufficient to offset losses in Germany. Management has initiated an earnings improvement program to address these challenges.

For the first half of 2024, the company anticipates sales revenue of EUR 74 million, compared to EUR 68.7 million in H1 2023. EBITDA for this period is expected to be EUR 0-1 million.