Belgium · Delayed Price · Currency is EUR Melexis NV Earnings Call Transcripts
Fiscal Year 2025
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2025 saw a 10% sales decline but strong Q4 growth in China and APAC, with robust innovation and strategic expansion in China and India. 2026 is expected to be flat in H1 with growth in H2, gross margin improvement, and continued volatility, especially in China.
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The event outlined a strategy focused on innovation, diversification, and operational excellence, with a strong push into non-automotive markets like Robotics and Alternative Mobility. Financial targets include high single-digit growth, margin improvement, and a robust balance sheet, while China remains a key market for future expansion.
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Q3 2025 sales reached €215.3M, slightly above guidance but down 13% year-over-year, with sequential growth led by Europe and strong traction in Asia. Gross margin was 38.8%, impacted by resolved ramp-up issues, and full-year sales are expected at €840–€845M.
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Sequential sales growth in Q2 was driven by strong performance in China and EMEA, with automotive applications leading. Full-year guidance was reinstated amid limited visibility, and gross margin was impacted by nonrecurring costs and FX.
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Q1 2025 sales fell 18% year-over-year to €198.2M, with gross margin at 38.2% and net income down 54%. Strategic focus is on innovation and China, with inventory build-up to capture future demand. H1 2025 sales are guided at €400M amid ongoing market uncertainty.
Fiscal Year 2024
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2024 sales declined 3% to €932.8 million, with Q4 down sharply due to inventory corrections and order push-outs. Strong design wins, especially in China and robotics, position for growth, with recovery expected mid-2025 and a €3.7/share dividend proposed.
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Q3 2024 sales were stable year-over-year, but Q4 will be impacted by automotive inventory corrections in Europe and the US. Full-year guidance was lowered, while China and APAC showed strong growth and design wins. Gross margin pressure stems from lower yields, gold prices, and lower volumes.
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Q2 2024 sales rose 4% year-over-year to EUR 245.7 million, with strong automotive and comfort feature growth. Full-year sales are guided to EUR 1 billion, gross margin above 44%, and CapEx reduced due to investment timing. Portfolio diversity and global design wins support resilience.