(ABM FN) Melexis achieved its own outlook in the first quarter of 2024 and was not surprised with the expectations for the second quarter. This was evident from figures that the chip baker from Ypres announced on Wednesday morning.
Melexis’ turnover amounted to 241.8 million euros in the first quarter of 2024. That is an increase of 6 percent compared to the same quarter of the previous year and a decrease of 3 percent compared to the previous quarter.
This achieved its own outlook.
When publishing its fourth-quarter results, Melexis said it expected first-quarter sales of 240 to 245 million euros. The analyst consensus was on average 242 million euros.
Gross profit amounted to 106.8 million euros or 44.2 percent of turnover, an increase of 4 percent compared to the same quarter of the previous year and a decrease of 4 percent compared to the previous quarter.
Net profit amounted to 52.9 million euros or 1.31 euros per share. This is an increase of 4 percent compared to 50.9 million euros or 1.26 euros per share in the first quarter of 2023 and an increase of 6 percent compared to the previous quarter.
Outlook
Melexis expects turnover in a range of 242 to 247 million euros for the second quarter of 2024. The analyst consensus expects a turnover of 243 million euros for the current quarter with a gross margin of 44.2 percent.
For the full year 2024, Melexis expects sales of approximately 1 billion euros, a gross margin above 44 percent and an operating margin above 25 percent, taking into account a euro/dollar of 1.08.
The analysts expect an average annual turnover of 996 million euros with a gross margin of 44.4 percent and an operating margin of 25.1 percent.
Source: ABM Financial News
ABM Financial News is a supplier of stock market news, video and data, both for real-time trading platforms and dealing rooms and for online and offline media publications. The information in this article is not intended as professional investment advice or as a recommendation to make certain investments.
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