Sensirion Holding AG: Forecast for full-year 2020 raised based on stronger than expected COVID-19 related business
Sensirion raises its forecast for the financial year 2020. As a result of continuing high demand for gas flow sensors in connection with the COVID-19 pandemic the sensor manufacturer expects now revenue for the full year of approximately CHF 254 million and an adjusted EBITDA margin in the mid-twenties percentage range.
One-time COVID-19 related demand for gas flow sensors stronger than expected
Based on the stronger than in August 2020 expected development of the medical ventilator-related business year to date, Sensirion Holding AG (Sensirion) raises its outlook for the full-year 2020 again. Revenue is now expected to approximately be CHF 254 million (previously CHF 210-230 million), of which approximately CHF 77 million stem from the ventilator projects (previous year CHF 7 million). The gross margin is projected to improve slightly through economies of scale, while the adjusted EBITDA margin is expected in the mid-twenties percentage range.
Despite increased sales in the second half of the year, Sensirion continues to expect demand from the one-time business in connection with the COVID-19 pandemic to normalize from the beginning of 2021. Regular business, not related to ventilator applications, developed as expected in August 2020. More detailed information will be provided when the annual report is published on 16 March 2021.
Sensirion to nominate Anja König for election to the Board of Directors
The Board of Directors of Sensirion will nominate Anja König for election to the previous six-member body at the upcoming Annual General Meeting 2021. As part of its long-term planning, the Board of Directors has decided to increase the number of members for one year. The nomination of Anja König will achieve this goal, while Heinrich Fischer will reach the extended age limit for members of the Board of Directors in 2022. The Board is convinced that Anja König is a very suitable candidate for recommendation to the Annual General Meeting. Because of her experience and broad knowledge of strategic investments and acquisitions, as well as her insight into the Swiss startup scene, she will provide Sensirion with significant support in its further development of strategic collaborations. A resume of Anja König can be found at the end of this press release.
16 March 2021: Financial year 2020 results and annual report
18 May 2021: Annual General Meeting 2021
Resume of Anja König, Swiss and German citizen, born in 1970
Anja König has been serving as Global Head of the Novartis Venture Fund since 2017, and between 2007 and 2017, she held the position of Managing Director. She currently serves on the boards of Forendo Pharma in Finland, Ribon Therapeutics in the USA and Arctos Medical in Switzerland. From 2006 until 2007, Anja König was Assistant to the Chairman and CEO of Novartis Inc. Prior to that, Anja König worked for McKinsey & Company as Associate Partner in New York between 2000 and 2006. Anja König received her PhD in Theoretical Physics from Cornell University, and her master’s degree (Diploma) in Physics from the University of Munich.
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