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Schweiter Technologies: Significant revenue growth, rise in earnings

Schweiter Technologies / Schweiter Technologies: Significant revenue growth,
rise in earnings. Processed and transmitted by NASDAQ OMX Corporate
Solutions. The issuer is solely responsible for the content of this
Horgen, 20 August 2015 - Schweiter Technologies posted sharp growth in
revenues and earnings in the first half of 2015. The Group's net revenues
amounted to CHF 431.0 million in the first half of the year, an increase of
15% (in local currencies: +18%). This includes the results for three months
of the acquirees Polycasa and Plastwag, which both performed well. 3A
Composites achieved a notable increase of 22% in local currencies (organic
growth: 5%). SSM posted a cyclical decline of 9% compared with the high
prior-year figure. The appreciation of the Swiss franc and the costs
associated with the acquisition and integration of the acquirees reduced
operating income by around CHF 8 million. Nevertheless, the Group's EBITDA
rose by 9% to CHF 43.8 million and EBIT increased by 10% to CHF 31.5 million.
Net income declined by 10% to CHF 18.7 million due to currency movements.
After using CHF 115 million for acquisitions and distributing a dividend of
around CHF 57 million, the Group has cash holdings of CHF 120 million.

| Schweiter Technologies Group H1 H1 + / - |
|(in CHF m) |
| 2015 2014 |
| |
| Net revenues 431.0 375.5 +15% |
| EBITDA 43.8 40.3 +9% |
| as a 10.2% 10.7% |
|%of net revenues |
| EBIT 31.5 28.7 +10% |
| Net income 18.7 20.8 -10% |
3A Composites
recorded orders received of CHF 427.4 million (H1 2014: 349.9 million). Net
revenues rose by 18% to CHF 392.5 million (H1 2014: 333.1 million). This
resulted in EBITDA of CHF 40.6 million (H1 2014: 33.8 million), which
translates into a return on sales of over 10%. EBIT amounted to CHF 28.9
million (H1 2014: 22.8 million).
One notable contributor to growth was the strong demand in the core materials
business for wind energy, primarily in China. The architecture and display
business in Europe continued to perform well. Alongside a stable trend in
western European countries, revenues in southern Europe continued to recover
In the Middle East and the Asia-Pacific region, the architecture business
failed to sustain the gratifying growth of recent years in the first half of
2015. Political uncertainty and project postponements into the second half of
the year depressed revenue performance but do not cloud the positive
long-term outlook.
In the USA, the architecture business made a modest start in the first quarter
due to difficult weather conditions, although this was offset by a good
second quarter. The display business turned in a solid performance.
Business in the transportation segment was on a positive track - compared with
a weak prior-year period due to project postponements, revenues in the two
main lines of business, rail vehicles and buses, increased sharply. However,
margins were depressed by exchange rate effects.

The business and integration of Polycasa and Plastwag, the companies acquired
at the end of March 2015, proceeded in line with expectations. The
acquisition of PNG Balsa was completed on 30 June 2015. The costs associated
with the acquisition and integration of these acquirees depressed half-year
earnings by around CHF 2 million.

SSM Textile Machinery
posted an orders received figure of CHF 36.3 million (H1 2014: 41.4 million).
As expected, net revenues were down by 9% compared with the strong prior-year
period to CHF 38.3 million (-8% in local currency).
The markets in India and Bangladesh performed well, while the high prior-year
revenues in Turkey and the countries of South East Asia could not be matched.
China continued to experience lower-than-average investment activity.
EBITDA declined to CHF 4.5 million (H1 2014: 7.7 million), which translates
into a return on net revenues of 12% despite a fall in volumes and the
negative impact of currency movements.


Overall, business performance in the second half of the year is expected to be
at least on a par with the first six months. The measures initiated to offset
the negative impact of the appreciation of the Swiss franc will take full
effect in the second half of the year. In addition, the revenues and earnings
of all acquirees will be fully effective in the second half of the year.

The complete financial statements for the first half of 2015 can be viewed on

A media conference on the results for the first half of 2015 for analysts,
media representatives and investors will take place at 11.00 a.m. today at
the Marriott Hotel, Neumühlequai 42, 8035 Zurich.

For further information please contact:
Martin Klöti, CFO
Tel. +41 44 718 33 03, fax +41 44 718 34 51,

Schweiter Technologies AG, Neugasse 10, CH - 8812 Horgen, Switzerland
Tel. +41 1 718 33 11 Fax +41 1 718 34

The results for the first half of 2015 can be downloaded from the following

Semi-Annual Report 2015 (PDF)


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Schweiter Technologies via Globenewswire


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