SCHRAMBERG, GERMANY – In the third quarter, Schweizer Electronic had sales of €34.1 million ($37.7 million), an increase of 4% year-over-year.
For the first nine months of 2019, sales were €94.3 million, down 2.5% compared to the same period in 2018.
The firm says growth can be attributed to the automotive sector in the past two quarters. Automotive sales were up 5.3% year-over-year in the third quarter to €71.2 million, representing 75.5% of total sales.
Europe accounted for 79% of sales. Revenue through the firm’s Asian partner network increased 59.7% to €27.9 million in the first three quarters. Sales from production in Schramberg were €66.4 million, down 16.2%.
New orders in the third quarter were €30.3 million, as high as in the entire first half of the year. Order backlog at the end of the third quarter was €140.2 million, compared to €169.2 million in the same quarter of 2018.
EBITDA in the third quarter was €1.9 million, a decrease of 29.6% year-over-year. EBITDA for the first three quarters was €2.9 million.
Schweizer expects a slightly better second half of the year in terms of sales and EBITDA compared to the first six months, with revenues between €120 million and €125 million.
Ed.: €1 = US$1.10