Sensirion Holding Ag · SIX:SENS
Sensirion — FY2024 Earnings Presentation
26 slides from Sensirion's earnings presentation, Mar 11, 2025
Slide 1: Full-Year 2024 Results
FULL-YEAR 2024 RESULTS Sensirion Holding Marc von Waldkirch, CEO Martin Wirz, CFO 11 March 2025
Slide 2: Please note that this event will be recorded
Please note that this event will be recorded. Confidential
Slide 3: Disclaimer
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
Slide 4: Agenda
AGENDA Marc von Waldkirch Martin Wirz Marc von Waldkirch Q&A CEO CFO CEO Full-year 2024 highlights Full-year 2024 Outlook FY 2025 financial review Business review 01 02 03 04 4 © Copyright Sensirion, Switzerland Confidential
Slide 5: Full-year 2024 overview
Full-year 2024 overview Business Update • Broad-based return to organic growth • Growth mainly driven by new, innovative products, while the global market environment for our existing business remained challenging. • Our strategy of continuing to invest in growth projects and innovation, even during
Slide 6: Automotive market
Automotive market Sustained growth despite automotive head winds Main results Revenue development (CHFm) FY 2024 revenue increased by 11.3% year-on-year to CHF 80.6m 72.5 80.6 Growth was driven by a new business related to 39.8 40.8 34.8 37.6 vehicle interior air quality (VIAQ) module projects withi
Slide 7: Medical Markets
Medical Markets 2024 sales flat, Q4 2024 showed first sign of recovery in CPAP business Main results Revenue development (CHFm) FY 2024 revenue flat year-on-year decreasing -0.7% CPAP destocking to CHF 44.6m 44.9 44.6 H1/23 marked the end of an extraordinary demand cycle- 31.7 26.3 13.1 18.3 up stoc
Slide 8: Industrial Markets
Industrial Markets 2024 growth driven was driven by home appliances and A2L leakage sensors (US market, HVAC) Main results Revenue development (CHFm) 2024 revenue increased by +36.0% year-on-year to CHF 137.3m, growth was driven by appliances and A2L leakage sensors 137.3 100.9 63.5 73.8 Strong reco
Slide 9: Consumer market
Consumer market 2024 impacted by de-stocking and weak economic conditions – 2025 will bring product launches Main results Revenue development (CHFm) 2024 revenue decreased by -5.7% year-on-year to CHF 14.0 m Extraordinary (pandemic- and allocation-driven) demand 14.9 14.0 cycle ended in H1 2022, res
Slide 10: Revenue (CHFm)
Strong continuous growth based on innovation Revenue core Mobile business medical one-off business 350 CAGR: +15.4% 300 250 Revenue (CHFm) 200 330 150 293 265 277 184 233 100 175 171 100 131 148 115 113 50 87 63 64 29 39 24 0 Expectations for 2025 on the midpoint (330 MCHF) of the forward-looking gu
Slide 11: Strategic achievements FY 2024
Strategic achievements FY 2024 “We make a difference in sensing for a better world” Strategic Foci Strategic Achievements Focus 3 • We are working on advanced spectroscopic technologies based on low-cost IR laser systems Lay the technological foundation for long- term growth • For other early-stage
Slide 12: Agenda
AGENDA Marc von Waldkirch Martin Wirz Marc von Waldkirch Q&A CEO CFO CEO Full-year 2024 highlights Full-year 2024 Outlook FY 2025 financial review Business review 01 02 03 04 13 © Copyright Sensirion, Switzerland Confidential
Slide 13: Full year 2024 financials overview
Full year 2024 financials overview Key financials Revenue Gross margin adj. EBITDA margin adj. Operating cash flow CHF 276.5m 49.2% 10.5% CHF 37.2m +18.6% y-o-y Gross margin EBITDA margin Free cash flow (+22.1% organic, -3.5% 48.8% 0.1% CHF 3.5m FX) Confidential 14
Slide 14: Revenue development from 2023 to 2024
Revenue development from 2023 to 2024 Components of revenue growth (CHFm) Revenue Full year 2024 • 18.6% year-on-year sales increase driven by 300.0 22.1 % (3.5%) 18.6% • Broad based return to organic growth driven by Auto and 51.5 (8.2) Industrial 250.0 • Medical business returned to growth path in
Slide 15: Strong Revenue Development Across our major End Markets
Strong Revenue Development Across our major End Markets Revenue development (CHFm) FY 2024 (FY 2023) revenue distribution YoY Change % +11.9% 321.7 +18.6% +13.3% +48.3% 287.5 26.7 -27.5% 276.5 49.6% 5.1% 253.7 (6.4%) Automotive 27.0 14.0 (43.3%) 233.2 Medical 14.9 153.8 14.9 Industrial 71.2 131.4 13
Slide 16: Adjusted Gross margin and opex development
Adjusted Gross margin and opex development Adjusted - Gross profit and gross margin (CHFm / % of revenue) Gross profit and margin 2024 • YoY Margin decrease due to the combination of two effects: 59.2% 52.2% 49.2% -Underutilization in component mfg. in H1/24 -Higher sales portion of lower-margin mod
Slide 17: Adjusted EBITDA development
Adjusted EBITDA development Adjusted EBITDA1 and EBITDA margin (CHFm / % of revenue) EBITDA 2024 27.8% • Strong sales growth +18.6% drives gross 4.3% 10.5% profit expansion resulting in adjusted EBITDA 89.6 of CHF 29.0m 10.1 29.0 2022 2023 2024 • Optimization of our productivity in Operations, R&D a
Slide 18: Income statement, adjusted
Income statement, adjusted 2024: Extraordinary impairment of CHF 28.6 million at the EBITDA level and CHF 33.4 million at the net profit level (CHFm / % of revenue) FY 2024 reported FY 2024 adjusted FY 2023 Revenue 276.5 276.5 233.2 Cost of sales (141.6) (140.4) (111.4) Gross profit 134.9 48.8% 136.
Slide 19: Net working capital and capital expenditures 2024
Net working capital and capital expenditures 2024 Net working capital1 Net working capital 41.8% 38.6% 26.9% • Overall inventory decrease by CHF 11m; targeted safety level for wafer (assurance service policy) in place 86.5 97.5 106.8 • Receivables show high balance per year end driven by strong Q4 s
Slide 20: Statement of cash flows
Statement of cash flows Condensed consolidated statement of cash flows CFO FY 2024 (CHFm) FY 2024 FY 2023 FY 2022 Cash flow from operating activities (CFO) 37.2 (10.9) 49.5 Cash flow from investing activities (CFI) (53.4) (35.6) (34.3) Trade receivables increase (vs. HY 24) driven by strong Q4 sal
Slide 21: Continuing strong balance sheet
Continuing strong balance sheet As of 31 December 2023 As of 31 December 2024 Equity / total assets 88.7% Equity / total assets 84.1% Net cash1 CHF 73.1m Net cash1 CHF 54.4m Net cash / LTM EBITDA 7.2 Net cash / LTM EBITDA adj. 1.9 Assets Liabilities and equity Assets Liabilities and equity Trade pay
Slide 22: Agenda
AGENDA Marc von Waldkirch Martin Wirz Marc von Waldkirch Q&A CEO CFO CEO Full-year 2024 highlights Full-year 2024 Outlook 2025 financial review Business review 01 02 03 04 © Copyright Sensirion AG, Switzerland Confidential 23
Slide 23: Outlook 2025
Outlook 2025 Strong top line growth and normalization of EBITDA profitability expected Assuming unchanged foreign currency exchange rates, we expect for FY 2025 We expect further strong sales growth, mainly driven by the continued ramp-up of A2L sensors for the US HVAC market. Mid-term (CHFm) FY 2
Slide 24: Agenda
AGENDA Marc von Waldkirch Martin Wirz Marc von Waldkirch Q&A CEO CFO CEO Full-year 2024 highlights Full-year 2024 Outlook 2025 financial review Business review 01 02 03 04 25 © Copyright Sensirion, Switzerland Confidential
Slide 25: Thank you
THANK YOU 26 © Copyright Sensirion, Switzerland Confidential
Slide 26: Sensirion
SENSIRION