March 18, 2020 / 1:34 PM / 16 days ago

BRIEF-Schweizer Electronic FY Group EBIT Turns To Loss Of EUR 6.5 Million

March 18 (Reuters) - SCHWEIZER ELECTRONIC AG:

* TURNOVER OF 120.7 MILLION EURO FOR FISCAL YEAR 2019 WHICH IS AT LOWER END OF PROJECTED RANGE OF 120 - 125 MILLION EURO

* FY EBITDA (EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION) OF 0.1 MILLION EURO (PREVIOUS YEAR: 9.2 MILLION EURO)

* FY GROUP EBIT (EARNINGS BEFORE INTEREST AND TAXES) AMOUNTED TO -6.5 MILLION EURO (PREVIOUS YEAR: 1.6 MILLION EURO)

* CONSTRUCTION OF PRODUCTION AND ADMINISTRATIVE BUILDING COULD BE FINALISED IN YEAR 2019 ACCORDING TO PLAN

* DESPITE OUTBREAK OF CORONA VIRUS, ALL EMPLOYEES COULD HAVE RETURNED TO THEIR WORKPLACE IN MEANTIME

* POSITIVE EFFECTS FROM 2019 COST SAVINGS WILL HAVE THEIR FULL IMPACT IN YEAR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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