Melexis Q1 2025 results – First quarter sales of 198.2 million EUR
Press release - Regulated Information
Intermediate declaration by the Board of Directors
Ieper, Belgium – April 30th, 2025, 07.00 hrs CET
Sales for the first quarter of 2025 were 198.2 million EUR, a decrease of 18% compared to the same quarter of the previous year and stable compared to the previous quarter. The EUR/USD exchange rate evolution had a positive impact of 1% on sales compared to both the same quarter of last year and the previous quarter. The gross result was 75.7 million EUR or 38.2% of sales, a decrease of 29% compared to the same quarter of last year and a decrease of 2% compared to the previous quarter. R&D expenses were 14.3% of sales, G&A was at 6.8% of sales and Selling was at 2.4% of sales. The operating result was 29.0 million EUR or 14.6% of sales, a decrease of 55% compared to the same quarter of last year and an increase of 5% compared to the previous quarter. The net result was 24.6 million EUR or 0.61 EUR per share, a decrease of 54% compared to 52.9 million EUR or 1.31 EUR per share in the first quarter of 2024 and an increase of 35% compared to the previous quarter.
Outlook
Despite a weaker EUR/USD exchange rate of 1.09 (previously 1.03), Melexis confirms its outlook for sales to be around 400 million EUR for the first half of 2025. For the same reason, Melexis now expects a gross profit margin around 39% (previously around 40%) and an operating margin around 15% (previously around 16%) for the first half of 2025. For the full year 2025, Melexis expects CAPEX to be around 50 million EUR.
Business update
Sales of 198.2 million EUR in the first quarter of 2025 were within the guidance of 190 to 200 million EUR. The outperforming product lines were smart motor drivers, inductive position sensors and temperature sensors.
Melexis launched 4 new products in Q1 2025. For automotive applications, we launched Melexis’ latest magnetic position sensing technology able to perform in a high-voltage environment, supporting the transition from internal combustion powered vehicles to hybrid powertrains. We also added a new driver that supports up to 500 RGB LEDs per MeLiBu® segment, a world premiere allowing automotive manufacturers to further differentiate their offerings. In Beyond Automotive, an infrared thermometer for improved cooking control and safety, and a new current sensor for smart energy monitoring were introduced.
Sales for Beyond Automotive applications represented 12% of total sales in the first quarter of 2025, while 88% of Melexis sales were for automotive applications.
Quote from CEO Marc Biron
"Amid more volatile market conditions, we remain fully focused on the things within our control, managing the present and preparing the future. Sales in the first quarter of 2025 are in line with expectations as is our first half year outlook in spite of the recent weakening of the US dollar. Q1 2025 sales remained resilient in Asia-Pacific, as well as in Beyond Automotive applications, and I expect that we will progressively convert the increased number of new products and design wins into sales.
We recently announced the next step in our China strategy, designed to stay at the forefront of innovation and to intensify customer collaboration while reducing lead times. Key elements include establishing a locally embedded logistics hub, and moving to end-to-end local manufacturing. Customer feedback is very positive as they appreciate our enhanced commitment to this growing market.
I am convinced that the steps we are taking now are making Melexis stronger and will enable our customers to win in our target markets."
Financial Calendar
- Annual Shareholders Meeting: May 13, 2025
- Dividend pay date: May 22, 2025 (ex coupon on May 20, 2025)
- Publication Q2 Results 2025: July 30, 2025 (at 7 hrs CET)
- Publication Q3 Results 2025: October 29, 2025 (at 7 hrs CET)
- Publication FY 2025 Results: February 4, 2026 (at 7 hrs CET)
The company’s results will be discussed in a conference call and an audiocast on Wednesday, April 30th, 2025 at 10:30 hrs CET.
To register for the conference call (possibility to ask questions)
The conference call will be in English. You have to register for this conference call in advance. You can register by clicking here and filling out the requested information. After registration, you will receive the conference call number, a participant user pin, conference pin and instructions on how to join the conference call. For security purposes, all participants must register individually if they wish to join the call.
To register for the audiocast (no possibility to ask questions)
To register for the audiocast, click here.
For more information:
Investors
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Journalists
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