EQS-News

Schweizer Electronic AG confirms Group figures and outlook for 2024 - Seite 2

The sale of the majority stake in Schweizer Electronic (Jiangsu) Co., Ltd., China, significantly improved the Group's equity ratio to 24.3% (31.12.2022: -5.5%) and the net gearing ratio fell to 64.2%.

Compared to the previous year, total assets decreased by EUR -54.2 million to EUR 106.1 million. This change is mainly due to the fact that the sale of the majority stake in the Chinese subsidiary had not yet been completed as at 31 December 2022 and the resulting balance sheet item ‘Assets held for sale’ totalling the resulting balance sheet item ‘Assets held for sale’ totalling EUR 78.8 million.

Nicolas-Fabian Schweizer, CEO of Schweizer Electronic AG: ‘The successful realisation of the sale of shares in Schweizer Electronic (Jiangsu) and the operational handover of the plant to our partner WUS Printed Circuit (Kunshan) Co., Ltd. has been completed. The production ramp-up of our embedding products in Jintan, which was planned from the outset, has been successfully completed.  At the same time, our strategy was adapted in 2023 in line with the new company structure and changing market conditions. The increased focus on technology, diversification of customer groups and addressing new market regions - in particular North America - are in full swing and already showed the first signs of success in 2023.’

Marc Bunz, CFO, added on the outlook: ‘After 2023 was strongly characterised by the sale of the majority stake in Schweizer Electronic (Jiangsu) Co, Ltd, China, 2024 will only be slightly influenced by special effects from this transaction. Thanks to the strategic realignment, we achieved a remarkable turnaround in earnings and in the cash and balance sheet ratios in 2023. The adjusted strategy can be consistently pursued and realised from 2024. The fab-light strategy will lead to a reduced use of financial resources for capacity investments. Investments will be focussed on the Schramberg site, while the partnerships in Asia will enable broad-based growth to be achieved without the company having to invest in its own facilities.’