Media Release
7 July 2021, Sensirion Holding AG, 8712 Stäfa, Switzerland
Ad hoc announcement pursuant to Art. 53 LR
Sensirion: Raised outlook for full-year 2021
Sensirion Holding AG, a leading manufacturer of digital microsensors and systems, raises its outlook for financial year 2021 based on strong demand in the first half of the year.
High demand in first half of the year results in strong revenue and profitability development
In the first half of 2021, a broad and stronger than anticipated recovery from the COVID-19 pandemic across all end markets led to high demand for Sensirion's sensor solutions. Sensirion now expects revenue of approximately CHF 144 million (prior-year period CHF 114 million) and an EBITDA margin in the low thirties for the first half-year 2021. Profitability increased over-proportionally to the revenues because of the relatively low ratio of variable to fixed costs, due to the high operating leverage of the business model as well as delayed ramp-up of costs relative to revenues.
Sensirion interprets this demand increase on the one hand as signs of an above-average recovery and on the other hand as build-ups of inventory levels at customers because of the tight situation and shortages in the global supply chains. In addition to the overall demand increase, the business performance is supported by strong growth contributions from new product families in environmental monitoring developed in recent years and recently launched on the market. As foreseen, the COVID-19-related one-time ventilator business contributed approximately CHF 17 million. Sensirion expects a normalization of the COVID-19-related business from now on and no further extra sales in the second half of the year.
Raised outlook for full-year 2021
As a consequence of this strong first semester, Sensirion raises its outlook for the full-year 2021 and now expects approximately 15% more revenue compared to its initial guidance of CHF 226-245 million, a gross margin in the high fifties, and an EBITDA margin in the high twenties. Uncertainties, however, remain high also in the second half of 2021 because currently it is unclear how long the challenging supply chain situation and concomitant inventory effects will remain. More details on the half-year results as well as the updated full-year guidance will be presented on 25 August 2021.
Financial Calendar
25 August 2021 Half-year 2021 results and interim report
Contact
Andrea Wüest
Director Investor Relations
Tel: +41 44 927 11 40
E-Mail: andrea.wueest@sensirion.com
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.
Disclaimer
Certain statements in this document are forward-looking statements, including, but not limited to, those using words such as "believe", "assume", "expect" and other similar expressions. Such forward-looking statements are based on assumptions and expectations and, by their nature, involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to, future global economic conditions, changed market conditions, competition from other companies, effects and risks of new technologies, costs of compliance with applicable laws, regulations and standards, diverse political, legal, economic and other conditions affecting markets in which Sensirion operates, and other factors beyond the control of Sensirion. In view of these uncertainties, you should not place undue reliance on forward-looking statements. Sensirion disclaims any intention or obligation to update any forward-looking statements, or to adapt them to future events or developments.
Sensirion uses certain key figures to measure its performance that are not defined by Swiss GAAP FER. These alternative performance measures may not be comparable to similarly titled measures presented by other companies.
This document is not an offer to sell, or a solicitation of offers to purchase, any securities.
