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There’s more bad news for Melexis, as the Ypres-based company encountered a rough Q4 and FY 2019. While the Belgian automotive semiconductor expert realized a modest, 3 percent increase in sales, sequentially, that’s where the good news ended. Overall, sales for 2019 amounted to just under 487 million euros, down 14 percent from FY 2018, with the gross result down 25 percent, year on year.
Despite the challenging market in 2019, Melexis is remaining optimistic as it looks forward. “Based on the latest data points, worldwide car sales dropped by around 5 percent in 2019, while Melexis’ sales were impacted almost threefold. This was fully attributable to inventory corrections at customers and triggered by an uncertain economic and geopolitical situation caused by global trade tensions,” explains Françoise Chombar, CEO. “For 2020, Melexis is confident to provide a sales growth guidance of around 10 percent, based on continued weak global car sales – potentially below the 2019 level – on the negative side, but normalized order behavior and automotive semiconductor content growth on the positive.”