Schweizer Electronic AG / Key word(s): Preliminary Results 01.04.2016 18:00 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Schramberg, April 1st, 2016 - In order to represent the significance of the Asian business more adequately in its financial reporting, SCHWEIZER for the first time has established a consolidated financial statement according to IFRS Standards for the fiscal year 2015. On the balance sheet, the adoption of IFRS Standards leads to the disclosure of hidden reserves in tangible assets. While balance sheet assets of the individual financial statement amount to 87.7 million euro, balance sheet assets of the consolidated financial statement according to IFRS come up to 119.1 million euro. The increase in assets is reflected by a higher IFRS consolidated equity of 67.5 million euro compared to an equity of 51.5 million euro in the individual financial statement. The IFRS consolidated equity ratio amounts to 56.6% (individual financial statement 58.7%). The higher value of tangible assets according to IFRS translates into higher yearly depreciations of 3.8 million euro in the income statement. Particularly due to this effect, the consolidated EBIT before special effects amounted to 5.9 million euro. One-time restructuring expenses of 1.1 million euro and negative exchange rate effects between the euro and the US dollar amounting to a total of 1.0 million euro burdened the result. The EBIT after special effects amounted to 3.8 million euro. Profit after tax is anticipated to be 1.5 million euro (individual financial statement 5.5 million euro). SCHWEIZER continues to expect a strong business with its automotive solutions to reduce CO2-emissions as well as with its solutions for high frequency applications, which form the precondition for autonomous driving. Thanks to these product solutions, the order book climbed to a record level of 149.1 million euro by the end of the year 2015 order, which is an increase of 25% according to the previous year.
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Information and Explanation of the Issuer to this News: About Schweizer: Schweizer Electronic AG stands for state-of-the-art technology and consultancy competence. SCHWEIZER's premium printed circuit boards and innovative solutions and services for automotive, solar, industry and aviation electronics address key challenges in the areas of Power Electronics, Embedding and System Cost Reduction. Its products are distinguished for their superior quality and their energy-saving and environmentally-friendly features. Together with its partners Elekonta Marek GmbH & Co. KG, Meiko Electronics Co. Ltd. and WUS Printed Circuit Co., Ltd., the company offers in its division electronics cost- and production-optimised solutions for small, medium and large series. Together with its partner Infineon Technologies AG, SCHWEIZER plans to jointly tap the chip embedding market in future. With about 760 employees SCHWEIZER achieved sales of 115.5 million euro in Fiscal Year 2015 (ending December). The company was founded in 1849, is managed by family members and listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol 'SCE', 'ISIN DE 000515623'). Elisabeth Trik Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg Phone: +49 7422 / 512 302 Fax: +49 7422 / 512 777 302 E-mail: ir@schweizer.ag Please visit our website: www.morethanPCBs.com 01.04.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg Germany Phone: 07422-512-301 Fax: 07422-512-397 E-mail: ir@schweizer.ag Internet: www.schweizer.ag ISIN: DE0005156236 WKN: 515623 Listed: Regulated Market in Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Berlin End of Announcement DGAP News-Service
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Schramberg, April 1st, 2016 - In order to represent the significance of the Asian business more adequately in its financial reporting, SCHWEIZER for the first time has established a consolidated financial statement according to IFRS Standards for the fiscal year 2015. On the balance sheet, the adoption of IFRS Standards leads to the disclosure of hidden reserves in tangible assets. While balance sheet assets of the individual financial statement amount to 87.7 million euro, balance sheet assets of the consolidated financial statement according to IFRS come up to 119.1 million euro. The increase in assets is reflected by a higher IFRS consolidated equity of 67.5 million euro compared to an equity of 51.5 million euro in the individual financial statement. The IFRS consolidated equity ratio amounts to 56.6% (individual financial statement 58.7%). The higher value of tangible assets according to IFRS translates into higher yearly depreciations of 3.8 million euro in the income statement. Particularly due to this effect, the consolidated EBIT before special effects amounted to 5.9 million euro. One-time restructuring expenses of 1.1 million euro and negative exchange rate effects between the euro and the US dollar amounting to a total of 1.0 million euro burdened the result. The EBIT after special effects amounted to 3.8 million euro. Profit after tax is anticipated to be 1.5 million euro (individual financial statement 5.5 million euro). SCHWEIZER continues to expect a strong business with its automotive solutions to reduce CO2-emissions as well as with its solutions for high frequency applications, which form the precondition for autonomous driving. Thanks to these product solutions, the order book climbed to a record level of 149.1 million euro by the end of the year 2015 order, which is an increase of 25% according to the previous year.
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Information and Explanation of the Issuer to this News: About Schweizer: Schweizer Electronic AG stands for state-of-the-art technology and consultancy competence. SCHWEIZER's premium printed circuit boards and innovative solutions and services for automotive, solar, industry and aviation electronics address key challenges in the areas of Power Electronics, Embedding and System Cost Reduction. Its products are distinguished for their superior quality and their energy-saving and environmentally-friendly features. Together with its partners Elekonta Marek GmbH & Co. KG, Meiko Electronics Co. Ltd. and WUS Printed Circuit Co., Ltd., the company offers in its division electronics cost- and production-optimised solutions for small, medium and large series. Together with its partner Infineon Technologies AG, SCHWEIZER plans to jointly tap the chip embedding market in future. With about 760 employees SCHWEIZER achieved sales of 115.5 million euro in Fiscal Year 2015 (ending December). The company was founded in 1849, is managed by family members and listed at the Stuttgart and Frankfurt Stock Exchanges (ticker symbol 'SCE', 'ISIN DE 000515623'). Elisabeth Trik Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg Phone: +49 7422 / 512 302 Fax: +49 7422 / 512 777 302 E-mail: ir@schweizer.ag Please visit our website: www.morethanPCBs.com 01.04.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English Company: Schweizer Electronic AG Einsteinstraße 10 78713 Schramberg Germany Phone: 07422-512-301 Fax: 07422-512-397 E-mail: ir@schweizer.ag Internet: www.schweizer.ag ISIN: DE0005156236 WKN: 515623 Listed: Regulated Market in Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Berlin End of Announcement DGAP News-Service
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