Schweizer Electronic AG Reports Growth in Q1 2024

Schweizer Electronic AG has experienced a 5.5% sales increase in the first quarter of 2024, achieving EUR 39.2 million, compared to EUR 37.1 million in the same period last year. This gain is attributed to a significant 25.7% rise in sales to Automotive customers, which now represent 80% of the total revenue.

The sales through the Asian partner network also grew by 14.8%, contributing 37.9% to the total sales. However, sales from in-house production were relatively flat. Earnings before interest, taxes, depreciation, and amortization (EBITDA) improved markedly, reaching EUR 2.1 million, up from EUR 0.4 million in the first quarter of 2023.

Despite the positive performance, the order backlog decreased to EUR 224.9 million from EUR 251.3 million at the end of the previous year. Moreover, the company reaffirmed its 2024 revenue target of EUR 140 to 150 million and an EBITDA of between EUR 10 and 11 million, considering structural revenue shifts toward products from the Asian partner.