Grenoble, France and Dallas, TX, USA – April 25, 2019 - Tronics, a TDK Group Company that manufactures custom MEMS products and standard inertial sensors, has announced its revenue for the fiscal year 2019 (from April 1, 2018 to March 31, 2019). Consolidated revenue increased by 23%, mainly driven by the growth of the manufacturing activities recorded in Crolles, France.
Consolidated revenue for the fiscal year 2019
|in €K (IFRS) - unaudited||Fiscal year
|From April 1, 2018 to March 31, 2019||From April 1, 2017 to
March 31, 2018
|From January 1, 2017,
to March 31, 2018
|12 months||12 months||15 months|
Consolidated revenue for the fiscal year 2019 totalled nearly €6.6M, an increase of 23% compared to the same period of the previous pro forma fiscal year (April 1, 2017 to March 31, 2018).
The Group's manufacturing activities recorded revenue of €3.7M, an increase of 42% over the same period of the previous fiscal year. This development is in line with the Company's strategy to continuously enhance its production activities, which now account for 56% of Tronics' overall revenue. This momentum was sustained by the increasing demand for Tronics' high-performance MEMS inertial sensors as well as the activities related to custom MEMS products for optical and industrial applications.
Engineering activities, dedicated to the development and the industrialization of future custom MEMS products at Group level, accounted for €2.9M in the fiscal year 2019 (versus nearly €2.8M in the fiscal year 2018).
Following the bankruptcy of a start-up customer with high potential, the level of the activity in the US subsidiary is currently below the Group's expectations, and now accounts for 8% of the consolidated revenue (compared to 5% during the last fiscal year).
As a result, the Group should announce significant losses for the period ending on March 31, 2019, given the continued investments and the expenses in sustaining both production units, in compliance with the pursued strategy.
About Tronics Microsystems
Tronics Microsystems is a division of TDK's Temperature & Pressure Sensors Business Group that manufactures custom MEMS products and standard inertial sensors. Addressing high-growth markets relying on increasing miniaturization of electronic devices, the company provides custom and standard products especially to the industrial, aeronautics, security, and medical markets. Founded in 1997, Tronics is located in Crolles, near Grenoble (France) and in Dallas, Texas (United States), and has around 100 employees, most of them engineers and scientists. Following a tender offer ending January 2017, TDK Electronics AG (formerly EPCOS AG) now holds 74 percent of Tronics' shares.
* ISIN code: FR0004175099 ALTRO
About TDK Corporation
TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's comprehensive portfolio features passive components, such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in the areas of information and communication technology and automotive, industrial and consumer electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2018, TDK posted total sales of USD 12 billion and employed about 103,000 people worldwide.
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For more information: www.tronicsgroup-bourse.com/en/