Strong Revenue Growth in First Half-Year 2018
Highlights of first half-year 2018
- Revenue CHF 90.2 million
- 30% growth compared to previous year's period, of which 18% organic, 11% inorganic, 1% foreign currency effects
- Double-digit organic growth in all end markets
- Adjusted EBITDA CHF 15.0 million (17% of revenue), adjusted by IPO-related one-off costs of CHF 8.8 million
- For the full year 2018, Sensirion expects revenue of CHF 175-180 million (18-22% growth YoY), a gross margin of 52-54%, and an adjusted EBITDA margin of 15-16%.
Sensirion Holding AG (SIX Swiss Exchange: SENS) has experienced a good first half-year 2018: Consolidated revenue reached CHF 90.2 million, +30% compared to the previous year's period, of which 18% was organic, 11% inorganic growth, and 1% due to movements of foreign currencies. Organic growth was above expectations thanks to the robust global macroeconomic conditions and increased demand from some main customers. The gross margin of 52% lies within the expected range. After adjustment for IPO-related one-off costs, adjusted EBITDA and adjusted EBITDA margin results were CHF 15.0 million and 17%, respectively. These results lie slightly above expectations due to higher revenues. The influence of the one-off effects of IPO-related costs and the IPO loyalty share program for employees, in total CHF 8.8 million, resulted in an operating loss of CHF 0.8 million and a net loss of CHF 2.0 million. Generated free cash flow amounted to CHF 12.6 million. IPO proceeds resulted in net cash of CHF 32.9 million.
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