Melexis’ Q3 marks a roller-coaster 2020

After a stellar start to 2020 and a Covid-crushed Q2, it seems that Melexis is getting back on track. For Q3, the Ypres-based automotive semiconductor expert brought in just over 121.5 million euros in sales. While year on year this was a marginal drop of 1 percent, it was a marked increase of 21 percent, sequentially. Similarly, the net result was down 3 percent when compared to the same quarter last year, coming in at 14.9 million euros. But in comparison to Q2 2020, this represented a 54 percent increase, from just over 9.5 million.

Going forward, Melexis expects more good news to come in 2020. “Sales in the third quarter of 2020, up 21 percent versus the previous quarter, came out higher than anticipated. During the quarter, we noticed an improvement of customer sentiment and, in the course of September, a substantial uptick in orders. Thanks to proactive supply chain and inventory management, we were able to meet increased customer demand,” says Melexis CEO Françoise Chombar. “Based on the current order book, and provided that the current Covid-19 wave won’t trigger a significant adverse impact on supply and demand in our industry, we expect a sequential sales growth of around 15 percent in the fourth quarter.”