Melexis NV (MLXSF) Q2 2023 Earnings Call Transcript


Melexis NV (OTCPK:MLXSF) Q2 2023 Earnings Conference Call August 2, 2023 4:30 AM ET

Company Participants

Marc Biron – Chief Executive Officer

Karen Van Griensven – Chief Financial Officer

Conference Call Participants

Marcel Achterberg – Degroof Petercam

Ruben Devos – KBC Securities

Marc Hesselink – ING

Robert Sanders – Deutsche Bank

Nikos Kolokotronis – Van Lanschot Kempen

Janardan Menon – Jefferies

Operator

Hello, and welcome to the Melexis NV Quarter Two 2023 Results. My name is Carolyn, and I will be your coordinator for today’s event. Please note, this call is being recorded and for the duration of the call, your lines will be on listen only. However, you will have the opportunity to ask questions at the end of the call. [Operator Instructions]

I will now hand over the call to your host, Mr. Marc Biron, the CEO, to begin today’s conference. Thank you.

Marc Biron

Hello, good morning. Thank you for joining the Melexis earnings call regarding the second quarter of 2023. As always, I will start with the business update, after which, our CFO, Karen Van Griensven, will comment on the financials. We will answer your questions afterwards. Sales in the second quarter of 2023 came out with an increase of 14% compared to the same quarter of last year. Given that we have realized a steady growth over the last quarter, we are increasing our full year of sales and profit guidance. During the second quarter, we observed stable inventory levels at our distributors as well as our direct customer.

The best-performing products were once again our current sensor, magnetic sensors, embedded motor drivers and embedded lighting product. It’s a trend clearly driven by the electrification and this trend is set to continue. The common denominator of the success of this product line is electrification. The obvious beneficiary are our current



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