Belgium's Melexis forecasts Q3 sales in line with expectations (updated)
31/07/2024 07:10
(Adds Q2 results in paragraph 1-3, CEO quote paragraph 4-5,
full-year guidance confirmed paragraph 7, dividend paragraph 8)
By Nathan Vifflin
July 31 (Reuters) - Melexis MLXS.BR , Belgium's largest
semiconductor supplier, forecast third-quarter sales in line
with expectations on Wednesday after second-quarter sales
marginally beat estimates, driven by demand for premium
automotive equipment.
The company, which supplies mostly to automotive customers,
reported sales rose 4% year-on-year to 245.7 million euros ($266
million) in the second quarter, slightly ahead of the 244.2
million expected by analysts in a company-provided poll.
Its earnings before interest and taxes (EBIT) margin reached
26.2% in the period, also beating analysts' expectations of
24.7%, per the company-provided poll.
"Growth was mainly driven by applications outside the
powertrain," CEO Marc Biron said in a statement.
He added that the trend was set to continue, with
applications in the premium segment making their way faster into
smaller vehicles and features such as advanced climate control
and ambient lighting becoming more widespread.
Melexis expects current-quarter sales of 247 million to 252
million euros, while analysts had, on average, estimated 251.8
million euros, according to LSEG data.
The company confirmed its full-year guidance for sales at
around 1 billion euros.
It said it would pay an interim dividend of 1.3 euros per
share.
($1 = 0.9241 euros)
(Reporting by Nathan Vifflin; Editing by Himani Sarkar and
Savio D'Souza)
((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))