In This Article:
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Sales: EUR245.7 million in Q2 2024, a 4% increase year-over-year and 2% increase from the previous quarter.
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Gross Result: EUR108.8 million, representing 44.3% of sales, a 2% decrease year-over-year and a 2% increase from the previous quarter.
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R&D Expenses: 10.8% of sales.
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G&A Expenses: 5.3% of sales.
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Selling Expenses: 2% of sales.
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Operating Result: EUR64.4 million, 26.2% of sales, a 5% decrease year-over-year and a 1% increase from the previous quarter.
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Net Result: EUR49.1 million or EUR1.21 per share, a 5% decrease year-over-year and a 7% decrease from the previous quarter.
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Interim Dividend: EUR1.3 per share, payable after October 17.
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Q3 2024 Sales Outlook: Expected to be in the range of EUR247 million to EUR252 million.
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Full Year 2024 Sales Outlook: Expected to be around EUR1 billion.
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Full Year 2024 Gross Profit Margin Outlook: Above 44%.
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Full Year 2024 Operating Margin Outlook: Above 25%.
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Full Year 2024 CapEx Outlook: Around EUR50 million, reduced from a previous estimate of EUR60 million.
Release Date: July 31, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Melexis NV (XBRU:MELE) reported Q2 2024 sales of EUR245.7 million, a 4% increase year-over-year, reaching the higher end of their guidance.
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The company has successfully expanded its product portfolio, including new magnetic position sensors and LIN RGB family, highlighting growth in e-steering technology and ambient lighting solutions.
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Melexis NV achieved five major design wins in Q2 across various regions and applications, demonstrating global success in both EV and combustion engine markets.
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The company expects full-year 2024 sales to reach around EUR1 billion, with a gross profit margin above 44% and an operating margin above 25%.
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Melexis NV's product portfolio is resilient to fluctuations in global car demand, covering all types of powertrains and benefiting from increased demand for comfort and safety features in vehicles.
Negative Points
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The gross result for Q2 2024 was EUR108.8 million, a decrease of 2% compared to the same quarter last year.
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Operating result decreased by 5% compared to the same quarter last year, despite a 1% increase from the previous quarter.
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Net result for Q2 2024 was EUR49.1 million, a 5% decrease compared to the same quarter in 2023.
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There is concern about potential inventory buildup, as the company maintains higher inventory levels to be ready for demand fluctuations.
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Pricing discussions for the next year are anticipated to return to pre-crisis norms, which may involve regular price declines.