EQS-News

Schweizer Electronic AG: Business development in the first quarter

EQS-News: Schweizer Electronic AG / Key word(s): Quarter Results Schweizer Electronic AG: Business development in the first quarter 08.05.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Schweizer Electronic AG: Business development in the first quarter

• Sales increase by 5.5 percent in the first quarter
• Sustained positive EBITDA
• Forecast for 2024 confirmed

Schramberg, May 8, 2024 – The sales of the SCHWEIZER Group amounted to EUR 39.2 million in the first quarter of 2024 (Q1 2023: EUR 37.1 million). This corresponds to an increase of +5.5 percent compared to the same quarter of the previous year. The first quarter of 2023 still included a revenue of EUR 1.8 million from the associated company Schweizer Electronic (Jiangsu) Co, Ltd, China (“SEC”). Thus the increase of sales without SEC corresponds to 11.0%. Sales from own production amounted to EUR 24.3 million and thus were slightly higher than in the same quarter of the previous year (Q1 2023: EUR 24.2 million). The sales of products via our Asian partner network increased by 14.8% year-on-year to EUR 14.9 million, accounting for 37.9% of sales (Q1 2023: 34.9%). The share of revenue generated by in-house production amounted to 62.1% (Q1 2023: 65.1%). Sales to Automotive customers amounted to EUR 31.3 million (Q1 2023: EUR 24.9 million), which corresponds to an increase of +25.7% compared to the first quarter of 2023. Automotive customers accounted for 80.0% of revenue in the first quarter of 2024 (Q1 2023: 67.1%).

The order backlog was EUR 224.9 million at the end of the quarter (December 31, 2023: EUR 251.3 million).

Earnings before interest, taxes, depreciation and amortization (EBITDA) grew to EUR +2.1 million (Q1 2023: EUR +0.4 million). The EBITDA ratio amounted to +5.2% and was therefore 4.2 percentage points higher than in Q1 2023. Adjusted for the negative EBITDA contribution from SEC in Q1 2023, EBITDA fell by EUR -1.4 million in Q1 2024.