PRESS RELEASE: Schweizer Electronic AG: AGM
02.07.2010
Schweizer Electronic AG / AGM/EGM
02.07.2010 17:12
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
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Shareholders' Meeting of Schweizer Electronic AG in Schramberg on
02/07/2010
Around 200 shareholders and guests attended this year's Shareholders'
Meeting of Schweizer Electronic AG. Approximately 78% of the stock capital
were represented. All resolutions proposed by the Management were adopted
unanimously or by a large majority of votes.
The Chairman of the Management Board, Dr. Marc Schweizer, first elaborated
on the development in the crisis year 2009 and the measures taken, in
particular, the strategic alliance with Meiko Electronics Ltd., as an
important milestone in the company's history. Then, Marc Bunz, Director of
Finance, explained the financial ratios. In 2009, sales amounted to EUR
65.8m, remaining 20% below previous year levels of EUR 81.8m. This decline
can be traced back to an extremely weak 1st half of 2009 resulting from the
financial and economic crunch. Accordingly, the EBIT (earnings before
interest and taxes) was EUR 3.4m (previous year: EUR -0.3m). However,
Schweizer Electronic achieved an impressive turnaround as of mid-2009. The
inflow of orders, which had amounted to only EUR 12.3m during the first six
months, increased by 475% to EUR 70.7m during the 2nd half of the year.
Sales revenues improved from EUR 28.2m during the first six months to EUR
37.6m during the second half, representing a 33% increase. Thus, the EBIT,
which had been EUR -5.7m as per 30/06/2009, increased to as much as EUR
+2.3m during the time from July to December 2009.
In his report on the current year, Dr. Schweizer explained, that the demand
for the company's products would continue to be at high levels. The most
obvious impetus was given by the solar and the automotive industries. The
Management Board was optimistic as regards the business development and
expected a sales volume of EUR 90 to EUR 100 million and an EBIT margin of
more than 8% for the whole year, even when taking material price increases
and the historically weak season during the 4th quarter into account.
Schweizer Electronic was able to win additional market shares, and
currently was the number 3 PCB manufacturer in Europe. This development
also benefited the company's stock price, which increased from less than
EUR 2 in spring 2009 to currently more than EUR 19.
In summary, Schweizer Electronic was beginning the second half of the
business year quite confidently, but certainly also with respect. But we
know: we are on the right track, Dr. Schweizer finally said.
The presentation shown by the Management Board at the Shareholders' Meeting
has been published at www.schweizerelectronic.ag section 'Investor
Relations / Shareholders' meeting'.
Schweizer Electronic AG (WKN 515623) is one of the Top 3 PCB manufacturers
in Europe with recognized technology and consulting expertise in the field
of automobile, solar and industrial electronics. The company was
established in 1849 and is currently managed by the sixth generation of the
family.
Schweizer Electronic is focused on complex multilayer and HDI circuits as
well as solutions for reducing the system cost and improving the
integration of active and passive components on the PC board. In addition,
Schweizer Electronic has many answers to the challenges of modern power
electronics. With its network of partners, Schweizer Electronic AG offers
optimal cost and manufacturing solutions for small, medium and large
series.
Furthermore, an extensive cooperation with SIEMENS AG Austria has been in
place since January 2010 for the manufacture and marketing of RFID
transponders with integrated sensor technology, known as 'SEAGsens'.
Schweizer Electronic operates the RFID business in the context of a
'Schweizer Tracking and Tracing Solutions' business unit.
Mr. Rigo Züfle
Investor Relations
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Tel. +49 7422 512 363
Fax +49 7422 512 414
E-mail: rigo.zuefle@schweizerelectronic.ag
02.07.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Schweizer Electronic AG
Einsteinstr. 10
78713 Schramberg
Deutschland
Phone: 07422-512-133
Fax: 07422-512-414
E-mail: ir@schweizerelectronic.ag
Internet: www.schweizerelectronic.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulierter Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in Berlin
End of News DGAP News-Service
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Schweizer Electronic AG / AGM/EGM
02.07.2010 17:12
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
Shareholders' Meeting of Schweizer Electronic AG in Schramberg on
02/07/2010
Around 200 shareholders and guests attended this year's Shareholders'
Meeting of Schweizer Electronic AG. Approximately 78% of the stock capital
were represented. All resolutions proposed by the Management were adopted
unanimously or by a large majority of votes.
The Chairman of the Management Board, Dr. Marc Schweizer, first elaborated
on the development in the crisis year 2009 and the measures taken, in
particular, the strategic alliance with Meiko Electronics Ltd., as an
important milestone in the company's history. Then, Marc Bunz, Director of
Finance, explained the financial ratios. In 2009, sales amounted to EUR
65.8m, remaining 20% below previous year levels of EUR 81.8m. This decline
can be traced back to an extremely weak 1st half of 2009 resulting from the
financial and economic crunch. Accordingly, the EBIT (earnings before
interest and taxes) was EUR 3.4m (previous year: EUR -0.3m). However,
Schweizer Electronic achieved an impressive turnaround as of mid-2009. The
inflow of orders, which had amounted to only EUR 12.3m during the first six
months, increased by 475% to EUR 70.7m during the 2nd half of the year.
Sales revenues improved from EUR 28.2m during the first six months to EUR
37.6m during the second half, representing a 33% increase. Thus, the EBIT,
which had been EUR -5.7m as per 30/06/2009, increased to as much as EUR
+2.3m during the time from July to December 2009.
In his report on the current year, Dr. Schweizer explained, that the demand
for the company's products would continue to be at high levels. The most
obvious impetus was given by the solar and the automotive industries. The
Management Board was optimistic as regards the business development and
expected a sales volume of EUR 90 to EUR 100 million and an EBIT margin of
more than 8% for the whole year, even when taking material price increases
and the historically weak season during the 4th quarter into account.
Schweizer Electronic was able to win additional market shares, and
currently was the number 3 PCB manufacturer in Europe. This development
also benefited the company's stock price, which increased from less than
EUR 2 in spring 2009 to currently more than EUR 19.
In summary, Schweizer Electronic was beginning the second half of the
business year quite confidently, but certainly also with respect. But we
know: we are on the right track, Dr. Schweizer finally said.
The presentation shown by the Management Board at the Shareholders' Meeting
has been published at www.schweizerelectronic.ag section 'Investor
Relations / Shareholders' meeting'.
Schweizer Electronic AG (WKN 515623) is one of the Top 3 PCB manufacturers
in Europe with recognized technology and consulting expertise in the field
of automobile, solar and industrial electronics. The company was
established in 1849 and is currently managed by the sixth generation of the
family.
Schweizer Electronic is focused on complex multilayer and HDI circuits as
well as solutions for reducing the system cost and improving the
integration of active and passive components on the PC board. In addition,
Schweizer Electronic has many answers to the challenges of modern power
electronics. With its network of partners, Schweizer Electronic AG offers
optimal cost and manufacturing solutions for small, medium and large
series.
Furthermore, an extensive cooperation with SIEMENS AG Austria has been in
place since January 2010 for the manufacture and marketing of RFID
transponders with integrated sensor technology, known as 'SEAGsens'.
Schweizer Electronic operates the RFID business in the context of a
'Schweizer Tracking and Tracing Solutions' business unit.
Mr. Rigo Züfle
Investor Relations
Schweizer Electronic AG
Einsteinstraße 10
78713 Schramberg
Tel. +49 7422 512 363
Fax +49 7422 512 414
E-mail: rigo.zuefle@schweizerelectronic.ag
02.07.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Schweizer Electronic AG
Einsteinstr. 10
78713 Schramberg
Deutschland
Phone: 07422-512-133
Fax: 07422-512-414
E-mail: ir@schweizerelectronic.ag
Internet: www.schweizerelectronic.ag
ISIN: DE0005156236
WKN: 515623
Listed: Regulierter Markt in Frankfurt (General Standard), Stuttgart;
Freiverkehr in Berlin
End of News DGAP News-Service
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