First Sensor (SIS) Q4 2024 earnings summary

Executive summary

• Sales declined 9.8% year-over-year to €121.4 million, missing the original forecast but meeting the revised guidance amid a challenging economic environment and active product portfolio management.

• EBITDA dropped to €6.3 million from €12.0 million, with EBIT at €-18.2 million due to significant goodwill and intangible asset write-offs.

• Net loss reached €-17.7 million compared to a profit of €4.1 million in the prior year; EPS was €-1.72 versus €0.40.

• Investments were €5.6 million, below the original plan but within the adjusted range, focusing on process improvements and capacity expansion.

• Integration with TE Connectivity continues to provide operational and strategic benefits, including access to a global sales network and cash pool.

Financial highlights

• Revenue: €121.4 million (down 9.8% year-over-year); DACH region sales fell 16.5%, North America down 58.8%, while Asia and rest of Europe grew 21.2% and 25.0% respectively.

• EBITDA: €6.3 million (prior year: €12.0 million); EBITDA margin 5.2% (prior year: 8.9%).

• EBIT: €-18.2 million (prior year: €4.2 million), reflecting €16.0 million goodwill write-off and €1.5 million write-off of internally generated intangibles.

• Net loss: €-17.7 million (prior year: €4.1 million profit); EPS: €-1.72 (prior year: €0.40).

• Gross margin: 51.3% (prior year: 50.7%); cost of materials ratio improved to 48.6%.

• Free cash flow: €1.7 million (prior year: €6.5 million); operating cash flow positive at €0.6 million.

• Equity ratio: 82.9% (prior year: 75.1%); net cash position: €29.6 million.

Outlook and guidance

• 2025 sales expected between €110 million and €120 million, indicating a further slight decline due to continued weak market conditions and product phase-outs.

• Investment budget for 2025 set at €5–7 million, focused on capacity expansions and modernization.

• Management expects a challenging year but remains optimistic for medium- and long-term growth, leveraging TE Connectivity integration.