Earnings release
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Press release - Regulated Information Melexis Q1 2025 results – First quarter sales of 198.2 million EUR Intermediate declaration by the Board of Directors Ieper, Belgium – April 30th, 2025, 07.00 hrs CET CONFORM IFRS Q1 2025 Q1 2024 YOY change Q4 2024 SEQ change in k EUR (%) (%) Sales 198,248 241,815 -18% 197,407 0% Gross result 75,680 106,783 -29% 77,560 -2% Gross Margin 38.2% 44.2% 39.3% EBIT 28,983 63,729 -55% 27,592 5% EBIT in % 14.6% 26.4% 14.0% EBITDA 41,257 74,970 -45% 39,974 3% EBITDA in % 20.8% 31.0% 20.2% Net result 24,598 52,947 -54% 18,279 35% Net result per share (EPS) 0.61 1.31 0.45 CAPEX 5,640 19,099 14,351 Sales for the first quarter of 2025 were 198.2 million EUR, a decrease of 18% compared to the same quarter of the previous year and stable compared to the previous quarter. The EUR/USD exchange rate evolution had a positive impact of 1% on sales compared to both the same quarter of last year and the previous quarter. The gross result was 75.7 million EUR or 38.2% of sales, a decrease of 29% compared to the same quarter of last year and a decrease of 2% compared to the previous quarter. R&D expenses were 14.3% of sales, G&A was at 6.8% of sales and Selling was at 2.4% of sales. The operating result was 29.0 million EUR or 14.6% of sales, a decrease of 55% compared to the same quarter of last year and an increase of 5% compared to the previous quarter. The net result was 24.6 million EUR or 0.61 EUR per share, a decrease of 54% compared to 52.9 million EUR or 1.31 EUR per share in the first quarter of 2024 and an increase of 35% compared to the previous quarter. 1 Melexis Financial Press Release Regulated Information
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Outlook Despite a weaker EUR/USD exchange rate of 1.09 (previously 1.03), Melexis confirms its outlook for sales to be around 400 million EUR for the first half of 2025. For the same reason, Melexis now expects a gross profit margin around 39% (previously around 40%) and an operating margin around 15% (previously around 16%) for the first half of 2025. For the full year 2025, Melexis expects CAPEX to be around 50 million EUR. Business update Sales of 198.2 million EUR in the first quarter of 2025 were within the guidance of 190 to 200 million EUR. The outperforming product lines were smart motor drivers, inductive position sensors and temperature sensors. Melexis launched 4 new products in Q1 2025. For automotive applications, we launched Melexis’ latest magnetic position sensing technology able to perform in a high-voltage environment, supporting the transition from internal combustion powered vehicles to hybrid powertrains. We also added a new driver that supports up to 500 RGB LEDs per MeLiBu® segment, a world premiere allowing automotive manufacturers to further differentiate their offerings. In Beyond Automotive, an infrared thermometer for improved cooking control and safety, and a new current sensor for smart energy monitoring were introduced. Sales for Beyond Automotive applications represented 12% of total sales in the first quarter of 2025, while 88% of Melexis sales were for automotive applications. Quote from CEO Marc Biron "Amid more volatile market conditions, we remain fully focused on the things within our control, managing the present and preparing the future. Sales in the first quarter of 2025 are in line with expectations as is our first half year outlook in spite of the recent weakening of the US dollar. Q1 2025 sales remained resilient in Asia-Pacific, as well as in Beyond Automotive applications, and I expect that we will progressively convert the increased number of new products and design wins into sales. We recently announced the next step in our China strategy, designed to stay at the forefront of innovation and to intensify customer collaboration while reducing lead times. Key elements include establishing a locally embedded logistics hub, and moving to end-to-end local manufacturing. Customer feedback is very positive as they appreciate our enhanced commitment to this growing market. I am convinced that the steps we are taking now are making Melexis stronger and will enable our customers to win in our target markets." 2 Melexis Financial Press Release Regulated Information
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Financial Calendar - Annual Shareholders Meeting: May 13, 2025 - Dividend pay date: May 22, 2025 (ex coupon on May 20, 2025) - Publication Q2 Results 2025: July 30, 2025 (at 7 hrs CET) - Publication Q3 Results 2025: October 29, 2025 (at 7 hrs CET) - Publication FY 2025 Results: February 4, 2026 (at 7 hrs CET) The company’s results will be discussed in a conference call and an audiocast on Wednesday, April 30th, 2025 at 10:30 hrs CET. To register for the conference call (possibility to ask questions) The conference call will be in English. You have to register for this conference call in advance. You can register by clicking here and filling out the requested information. After registration, you will receive the conference call number, a participant user pin, conference pin and instructions on how to join the conference call. For security purposes, all participants must register individually if they wish to join the call. To register for the audiocast (no possibility to ask questions) To register for the audiocast, click here. For more information: Investors Investor Relations Email: investor@melexis.com Journalists Brand & Communications Email: brandcomms@melexis.com About Melexis Melexis designs, develops, and delivers edge sensor and driver solutions with a heart for people and planet. Its mission is to empower engineers to turn their ideas into applications that support the best imaginable future, one that is safe, comfortable and sustainable. Melexis specializes in powertrain, thermal management, lighting, e-brake, e-steering and battery solutions for the automotive sector. It also expands its presence in the emerging markets of sustainable world, alternative mobility, robotics, and digital health. Founded in 1989 in Belgium, Melexis has grown to employ over 2,000 people in 12 countries, delivering cutting-edge technology to customers worldwide. For more information, visit www.melexis.com or follow Melexis on LinkedIn, and YouTube. 3 Melexis Financial Press Release Regulated Information
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Disclaimer Except for those statements that report the Company's historical results, the statements being made are forward looking statements. Actual results could differ materially from those projected in the forward- looking statements. Factors which could cause actual results to differ from expectations include the following: volatility in supply and demand affecting revenues and market prices, price and availability of silicon foundry, assembly and test prices, assembly and test subcontract capacity required to meet financial targets and/or meet backlog requirements, risks and delays associated with bringing up new production capabilities or with deliveries from subcontractors, timing and market acceptance of new products, increased expenses associated with new product acceptance of new products, increased expenses associated with new product introductions of process changes, delays in developing or achieving volume production of new products, which can result in delays or failure to contribute to revenues and profits, ability of the Company to maintain its customer and vendor base and delays in and/or inability in raising additional capital. 4 Melexis Financial Press Release Regulated Information
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Consolidated Income Statement CONFORM IFRS Quarter ended Quarter ended Year ended 31/3/2025 31/3/2024 31/12/2024 in k EUR audited Sales 198,248 241,815 932,808 Cost of sales -122,568 -135,031 -531,457 Gross result 75,680 106,783 401,351 R&D -28,394 -26,927 -110,252 G&A -13,512 -11,511 -51,367 Selling -4,791 -4,617 -19,842 Operating result (EBIT) 28,983 63,729 219,889 Financial result -462 -1,365 -14,568 Result before taxes 28,521 62,364 205,321 Income taxes -3,923 -9,417 -33,875 Net result 24,598 52,947 171,446 Net result per share in EUR 0.61 1.31 4.24 Consolidated Statement of Financial Position CONFORM IFRS Quarter ended Quarter ended Year ended 31/3/2025 31/3/2024 31/12/2024 in k EUR audited Current Assets : Cash and cash equivalents 34,842 35,655 32,681 A/R Trade 101,567 117,218 102,246 Assets for current tax 14,729 19,545 18,889 Other current assets 75,740 27,274 55,961 Inventories 281,787 257,734 262,815 Total current assets 508,666 457,426 472,593 Non-current assets : Property, plant and equipment 205,835 203,510 211,120 Leased assets 8,133 5,549 8,801 Intangible fixed assets 1,539 1,771 1,175 Other non-current assets 143,786 192,100 163,581 Deferred tax assets 36,908 33,218 36,985 Total non-current assets 396,201 436,148 421,662 Total assets 904,867 893,574 894,255 5 Melexis Financial Press Release Regulated Information
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CONFORM IFRS Quarter ended Quarter ended Year ended 31/3/2025 31/3/2024 31/12/2024 in k EUR audited Current liabilities : Derivative financial instruments 16 46 228 Current portion of LT debt 12,252 5,797 Lease liabilities 1,596 1,369 2,143 A/P trade 56,727 66,511 63,203 Accrued taxes 3,853 3,845 3,220 Short-term employee benefits accruals 21,665 26,064 18,222 Other current liabilities 9,198 8,822 9,320 Deferred income 3,070 2,920 2,076 Total current liabilities 108,378 109,577 104,210 Non current liabilities : LT debt less current portion 205,421 173,483 207,525 Lease liabilities 6,631 4,172 6,714 Deferred tax liabilities 3,660 710 3,737 Other non-current liabilities 4,563 3,627 4,567 Total non current liabilities 220,276 181,992 222,544 Shareholders' equity : Shareholders' capital 565 565 565 Treasury shares -19,387 — -4,410 Legal reserve 57 57 57 Retained earnings 574,606 553,305 403,160 Current period's profit 24,598 52,947 171,446 Cumulative translation adjustment -4,226 -4,868 -3,316 Equity attributable to company owners 576,213 602,004 567,501 Non controlling interests — — — Total shareholders equity 576,213 602,005 567,501 Total liabilities, shareholders' equity and minority interests 904,867 893,574 894,255 6 Melexis Financial Press Release Regulated Information
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Consolidated Statement of Cash Flows CONFORM IFRS Quarter ended Quarter ended Year ended 31/3/2025 31/3/2024 31/12/2024 in k EUR audited Cash flow from operating activities Net income 24,598 52,947 171,446 Adjustments for : Operating activities 16,068 22,046 95,602 Depreciation and amortisation 11,691 10,792 45,639 Depreciation leased assets 583 449 2,102 Other provisions -4 1 54 Deferred income 994 -6 -849 Unrealized financial result -1,678 -976 3,679 Financial result 560 2,369 11,103 Income tax expense/income 3,923 9,417 33,875 Operating profit before working capital changes 40,666 74,993 267,049 A/R, Trade 679 2,988 17,961 Other current assets -19,779 5,155 -23,532 Other non current assets 19,796 -10,867 17,652 Inventories -20,187 -4,901 -15,335 A/P -6,475 -13,520 -16,828 Employee benefit liabilities 3,459 2,400 -5,471 Other current liabilities -122 -4,142 -3,644 Cash generated from operations 18,036 52,106 237,852 Interest paid -2,377 -2,333 -10,750 Income tax paid 874 -23,861 -48,913 Cash flow from operating activities 16,533 25,912 178,190 Cash flow from investing activities Acquisition of subsidiary, net of cash acquired — Purchase of PPE and intangible assets (netted) -5,555 -16,598 -53,107 Interest received 74 77 357 Investments/proceeds/ from current investments — Cash provided from investing activities -5,481 -16,521 -52,750 Cash flows from financing activities Proceeds/Repayment of long-and short-term debt 4,351 -11,177 28,663 Repayment leasings -545 -476 -2,065 Impact of exchange results on financing items 2,507 -1,415 -4,963 Dividend payment — -149,480 Acquisition own shares -14,977 -4,410 Cash provided from financing activities -8,664 -13,067 -132,255 Effect of exchange rate changes on cash and cash equivalents -227 -18 148 Increase/decrease in cash and cash equivalents 2,161 -3,694 -6,668 Cash at beginning of the period 32,681 39,349 39,349 Cash at the end of the period 34,842 35,655 32,681 7 Melexis Financial Press Release Regulated Information
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Sales per Geography Q1 2025 Q1 2024 FY 2024 APAC 64% 59% 60% Asia Pacific EMEA 28% 32% 31% Europe - Middle-East - Africa NALA 8% 9% 9% North America - Latin America TOTAL 100% 100% 100% 8 Melexis Financial Press Release Regulated Information