Research Dynamics
7
Dec

2016

Schaffner – FY15/16 results

Mixed FY 2015/16 results; Automotive the bright spot

– Revenue above guidance, EBIT tops our estimate
– Segmental performance
– Unchanged mid-term targets
– Regional diversification
– Impact of changeover to Swiss GAAP FER
– Board recommends zero dividend
– New board and management composition
– Discount to peers on 2017 estimates