EQS Group-Ad-hoc: Sensirion Holding AG / Key word(s): Profit Warning
Sensirion reduces its outlook for 2019 as a result of the current crisis in the automotive industry and the continuing trade disputes. In spite of the currently difficult market conditions the long-term market trends, the technology and the product pipeline remain strong. Sensirion consequently confirms its mid- and long-term growth perspectives.
Reduced outlook for financial year 2019, gross margin stable
The current crisis in the automotive industry, the significantly weaker than expected global industrial production as well as the continuing global trade disputes negatively impact demand in all end markets. In contrast to the assessment at the beginning of the year, we do not see any signals from our customers pointing to the originally expected recovery in the second half of 2019. Furthermore, the start of production of an important customer project was postponed by the customer by a few months into the first half of 2020, which additionally impacts revenue in 2019. EBITDA margin suffers disproportionately under reduced revenue because of the low variable costs of our products. Newly won business cannot yet fully compensate for this demand reduction because typically two to three years pass from project win to start of mass production.
Half-year revenue at approximately CHF 83.5 million
Strategy and mid-term growth perspectives confirmed
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About Sensirion Holding AG
Sensirion Holding AG (SIX Swiss Exchange: SENS), headquartered in Stäfa, Switzerland, is a leading manufacturer of digital microsensors and systems. The product range includes gas and liquid flow sensors, differential pressure sensors and environmental sensors for the measurement of humidity and temperature, volatile organic compounds (VOC), carbon dioxide (CO2), and particulate matter (PM2.5). An international network with sales offices in China, Europe, Japan, South Korea, Taiwan, and the US supplies international customers with standard and custom sensor system solutions for a vast range of applications. Sensirion sensors can commonly be found in the automotive, medical, industrial, and consumer end markets. For further information, visit www.sensirion.com.
Certain financial data included in this document consists of "non-IFRS financial measures". These non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. As a result, you are cautioned not to place undue reliance on any non-IFRS financial measures and ratios included herein.
This document is not an offer to sell, or a solicitation of offers to purchase, any securities.
End of ad hoc announcement
|Company:||Sensirion Holding AG|
|Phone:||+41 44 306 40 00|
|Fax:||+41 44 306 49 06|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; SIX Swiss Exchange|
|EQS News ID:||839609|
|End of Announcement||EQS Group News Service|
839609 11-Jul-2019 CET/CEST