Schweizer Electronic AG Reports Sales Growth in First Half of 2024

Schweizer Electronic AG reported an 8.1% increase in sales for the first half of 2024, reaching EUR 74.3 million despite challenging market conditions. This growth is driven by a 26.2% rise in sales through the Asian partner network and the successful deployment of embedding technology for automotive clients.

The company's order backlog stands at EUR 213.0 million, a decrease from EUR 251.3 million at the end of 2023. This includes EUR 82.6 million due for delivery in the next two quarters. Profitability was impacted by structural shifts, with EBITDA falling to EUR 0.1 million from EUR 5.7 million in the previous year.

Automotive sector sales surged 28.9% to EUR 59.4 million. However, industrial and other customer sales declined to EUR 14.9 million. Geographically, European markets outside Germany saw a 50.4% increase, whereas sales in Germany dropped by 7.7%. Asia showed a 14% rise, while American exports fell by 8.5%.

The equity ratio stood at 18.7%, down from 24.3% at the end of 2023. The company expects full-year sales between EUR 140 and 150 million but forecasts EBITDA to range from EUR 2 to 5 million, down from an earlier expectation of EUR 10 to 11 million.