Technoprobe Spa U/Adr (THNBY) Q3 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:03.034 Good evening and thank you for joining us. 00:00:03.034 -- 00:00:09.420 Together with Stefano Beretta, our CFO, I will go through 2024 nine-month 00:00:09.420 -- 00:00:13.244 results and guidance for the last quarter of this year. 00:00:13.244 -- 00:00:17.868 As usual, Q&A session will follow at the end of the presentation. 00:00:17.868 -- 00:00:23.294 Results achieved in the third quarter are in line with guidance shared in August confirming 00:00:23.294 -- 00:00:28.609 trends rose in our reference markets. Exposure 00:00:28.609 -- 00:00:33.755 to artificial intelligence has been the main driver of our revenue, partially 00:00:33.755 -- 00:00:38.660 offset by weakness in the automotive and industrial market. 00:00:38.660 -- 00:00:43.686 Looking at different segments, we have automotive industrial remains sluggish. 00:00:43.686 -- 00:00:49.512 Suffering of the ongoing inventory correction started in last quarter 2023, 00:00:49.512 -- 00:00:55.769 which is expected to last at least until the first half of next year. 00:00:55.769 -- 00:00:57.511 More consumer-exposed 00:00:57.511 -- 00:00:59.192 markets 00:00:59.192 -- 00:01:04.717 and related inventories are completing the process of normalization as expected 00:01:04.717 -- 00:01:06.759 in 2024. 00:01:06.759 -- 00:01:11.803 Moving to artificial intelligence, as said, it has been the biggest driver of 00:01:11.803 -- 00:01:17.188 this year and will remain the same in the short to mid-term, 00:01:17.188 -- 00:01:22.252 in the same space overall. It was powered by Edge AI and inference 00:01:22.252 -- 00:01:26.093 applications that boosted data centers. 00:01:26.093 -- 00:01:31.478 Looking at artificial intelligence devices, you see chips being split 00:01:31.478 -- 00:01:36.522 into ...