Schaffner Group aligns expectations for the current fiscal year

Media Release

Schaffner Group aligns expectations for the current fiscal year

Weak automotive sector and slowdown in China's economic growth dampen momentum

Luterbach, 22 March 2019 - The Schaffner Group expects net sales for the current fiscal year to be below last year's level, due to the changed economic environment. Furthermore, the medium-term target range for the Group's EBIT margin of 8 to 10% is unlikely to be achieved already in the current fiscal year.

The adjustment is mainly due to lower sales in the Automotive division due to the present weakness of the global automotive market and the overall slowdown in economic growth in China.

Schaffner will explain the current business development in detail when presenting the half-year results on 7 May 2019.

Contact

Marc Aeschlimann

Chief Executive Officer

T [phone]

[e-mail]

Financial calendar

7 May 2019 5 December 2019 14 January 2020

Publication of half-year report 2018/19 Publication of annual report 2018/19 24th Annual General Meeting

Schaffner - Shaping Electrical Power

The Schaffner Group is a global leader in solutions that ensure the efficient and reliable operation of power electronic systems by shaping electrical power. The Group's portfolio includes EMC filters, power magnetic components, power quality filters and the related services. For the automobile industry, Schaffner develops and manufactures components for antennas for keyless entry systems, and filter solutions for hybrid and electric vehicles and their charging infrastructure. Schaffner components are also deployed in electronic motor controls, rail technology applications, machine tools and robots, electrical infrastructure, power supplies for electronic devices, and wind power and photovoltaic systems. Headquartered in Switzerland, Schaffner serves its customers globally through its engineering and manufacturing centers in Asia, Europe and North America.

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