By Andrea Figueras
Sensirion Holding has made the decision to reduce its temporary staff as it adapts to weaker demand from end customers, resulting in a significant decline in earnings for the first half of the year.
The Swiss sensor manufacturer, on Wednesday, reported a net profit of 1.4 million Swiss francs ($1.6 million) for the first half, compared to CHF35.0 million in the same period last year. Furthermore, revenue experienced a 25% decrease to CHF123.2 million, while earnings before interest, taxes, depreciation, and amortization plummeted to CHF10.7 million from CHF48.9 million.
According to the company, “The sluggish global economy and pandemic-related overconsumption in recent years led to generally weak demand from end consumers in the first half of the year, particularly in the appliances and consumer markets.”
In light of its first-half results and considering a weaker dollar, Sensirion is more cautious about its outlook than it was in July when it revised its sales forecast to a range between CHF235 million and CHF255 million. The company anticipates a gross margin in the mid-50s and an Ebitda margin ranging between 5% and 10%, depending on the development of top-line performance.
