Schweizer Electronic AG: Preliminary results for the first half of 2021 and adjustment of the forecast for the current financial year

- Order intake increased sixfold

- Sales increased by 31 percent

- EBITDA ratio at -8.8 percent below expectations requires adjustment of earnings forecast

Schramberg, July 23, 2021 - According to preliminary figures, the SCHWEIZER Group achieved consolidated sales of EUR 59.4 million in the first half of 2021 (first half of 2020: EUR 45.4 million). This corresponds to a sales growth of +30.9 percent compared to the same period last year. New orders increased sixfold and reached EUR 95.9 million (2020: 15.3 million), resulting in open orders of EUR 155.4 million.

The provisional EBITDA (earnings before interest, taxes and amortisation) amounted to EUR -5.2 million (first half of 2020: EUR -5.6 million). Although the EBITDA ratio improved compared to the same period in the previous year to -8.8 percent (first half of 2020: -12.4 percent), it was below the forecast range of 0 to -6 percent.

SCHWEIZER continues to expect sales growth of +20 to +30 percent for the 2021 financial year, which corresponds to sales of EUR 120 to 130 million.

On the other hand, the previous expectation for the EBITDA ratio cannot be fully maintained. We now expect an EBITDA ratio of -5 to -10 percent (previously 0% to -6%). This is due to the sustained unfavourable price development of raw materials and supplies and the strict travel restrictions to China, which are hampering the schedule for technology transfer and the qualification of the plant by major international customers.

The final figures for the first half of 2021 will be announced on 6 August 2021 at https://schweizer.ag/investoren-und-medien/finanzberichte/downloads-berichte.

Explanations to Financial Figures are available at: https://schweizer.ag/en/investors-media/company-key-figures/explanations-financial-figures.