SCHWEITER TECHNOLOGIES
Full-year 2020 profits soar / Record high in EBITDA / Record sales of 2020 not expected in 2021
Despite the Covid-19 pandemic challenges and the strong Swiss currency, Schweiter Technologies (Steinhausen / Switzerland; www.schweiter.com) achieved in 2020 a staggering 43% gain in core profit EBITDA at CHF 175.7m (EUR 193m), which is a new record high. With sales down 2% at CHF 1.16 bn, Schweiter had a disproportionately large increase in profitability through capacity utilisation cuts, lower raw material costs and selective price adjustments. EBIT at CHF 137.5m advanced 61% while net income rose 73% to CHF 103.6m. The company said a change at the top of the management board is planned for 2022.

Through its 3A composites business, the group regards itself as the global market leader in core materials for sandwich constructions, particularly for wind-farm applications. The business – whose four segments comprise display, core materials, architecture and transport/industry – had a strong start in 2021, but a repeat of last year’s result would be difficult, it said.

The display segment’s sales – accounting for nearly half of the group’s revenues – were flat. The American display operations were hit especially hard by a demand drop in advertising and retailing sectors. The European branch, however, benefited from the clear sheet capacity acquired in recent years.

In a bid to boost US display activities, Schweiter acquired the foam board assets of Newell Brands (Atlanta, Georgia / USA; www.newellbrands.com) in September 2020. The business generated around USD 39m (EUR 32m) sales in 2019.

In Europe, Schweiter recently bought a 40% stake in JMB Wind Engineering (Goleniow / Poland; www.jmbwind.com), a specialist in core materials kit design and production, mainly for wind turbines, with operations in Poland and Portugal. JMB will continue to operate as a standalone entity with its existing management team. After Schweiter’s successful start of a PET production line in China in 2020, a satellite PET production site is being planned at the site of JMB. This would then expand Schweiter’s capacities in Europe.
20.04.2021 Plasteurope.com [247427-0]
Published on 20.04.2021
Schweiter: Beteiligung an Windkraft-Spezialisten in PolenGerman version of this article...

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