Melexis Reports Q3 2018 Results

Melexis reports its third quarter 2018 results. Sales for the third quarter of 2018 were €146.7 million, an increase of 15% compared to the same quarter of the previous year and an increase of 3% compared to the previous quarter. The gross result was €68.1 million or 46.4% of sales, an increase of 17% compared to the same quarter of last year and an increase of 3% compared to the previous quarter.
 
The operating result was €36.9 million or 25.1% of sales, an increase of 15% compared to the same quarter of last year and an increase of 4% compared to the previous quarter.
 
Sales for the first nine months of 2018 were €427.7 million, an increase of 13% compared to the first nine months of 2017. The gross result was €197 million, an increase of 13% compared to the same period last year. The operating result was €106.6 million, an increase of 10%.
 
“The Melexis third quarter results are in line with our expectations,” said CEO Françoise Chombar. “Growth drivers for Melexis products continue to solidify as a consequence of the trends towards more electrification, assisted drive and interior differentiation in cars. Our adjusted sales guidance for the full year reflects a reduced short-term visibility and signs of upcoming inventory corrections at our customers. These inventory corrections are triggered by a mix of reasons, the main one being a more uncertain economic and geopolitical situation caused by global trade tensions.”