The semiconductor producer Melexis reported that its net profit halved in the first quarter compared to the same period last year, according to its quarterly results published on Wednesday.
The company's revenue also dropped to €198.2 million in the first three months of the year, an annual decrease of 18%. However, revenue remained stable compared to the last quarter of 2024 and aligned with the chip manufacturer's forecasts for the automotive sector.
Net profit amounted to €24.6 million, which is only half of what was earned a year earlier.
Melexis CEO Marc Biron cited "volatile market conditions" as a reason for these results. "Sales in the first quarter are in line with expectations," he stated. Despite the recent weakening of the US dollar, the company has not changed its outlook for the first half of the year and anticipates revenue of €400 million.
In mid-April, Melexis announced a collaboration with a Chinese semiconductor manufacturer. The aim is to produce fully finished products in China for the local market by 2026.
