Melexis NV (MLXSF) Q3 2023 Earnings Call Transcript


Melexis NV (OTCPK:MLXSF) Q3 2023 Results Conference Call October 25, 2023 4:30 AM ET

Company Participants

Marc Biron – Chief Executive Officer

Karen Van Griensven – Chief Financial Officer

Conference Call Participants

Marc Hesselink – ING

Robert Sanders – Deutsche Bank

Francois-Xavier Bouvignies – UBS

Janardan Menon – Jefferies

Ruben Devos – Kepler Cheuvreux

Guy Sips – KBC Securities

Operator

Hello, and welcome to the Melexis Q3 2023 Results Call. My name is Natalie, and I’ll be your coordinator for today’s event. Please note that this call is being recorded. [Operator Instructions]

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

Marc Biron

Thank you. Dear audience, thank you for joining the Melexis Earnings Call regarding the third 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 third quarter of ’23 came out with an increase of 5% compared to the previous quarter. During the third quarter, we observed that the order behavior of customers is coming back to a more historical pattern, converging into a normalized order book.

For the last quarter of the year, we expect limited growth because of the usual end of year inventory adjustments.

The best-performing product during Q3 were our motor drivers, our magnetic sensor and our pressure sensor product, a trend clearly driven by electrification and the need for more comfort and more safety.

The embedded motor drivers benefit from the gradual decarbonization of the car because they contribute to extend the range of the car. They are extensively used in thermal management application in cabin and also in the powertrain.

The other outperforming products are used in application increasing the



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