Sensirion raises its outlook for full-year 2021
The Swiss manufacturer of digital microsensors and systems raises its outlook for financial year 2021 based on strong demand in the first half of the year.
In the first half of 2021, a broad and stronger than anticipated recovery from the COVID-19 pandemic across all end markets led to high demand for Sensirion’s sensor solutions. The company says that it now expects revenues of approximately CHF 144 million (EUR 133 million), compared with CHF 114 million (EUR105 million) the same period a year before, and an EBITDA margin in the low thirties for the first half-year 2021. Sensirion interprets this demand increase on the one hand as signs of an above-average recovery and on the other hand as build-ups of inventory levels at customers because of the tight situation and shortages in the global supply chains. In addition to the overall demand increase, the business performance is supported by strong growth contributions from new product families in environmental monitoring developed in recent years and recently launched on the market. As foreseen, the COVID19-related one-time ventilator business contributed approximately CHF 17 million (EUR 15.6 million). Sensirion expects a normalisation of the COVID-19-related business from now on and no further extra sales in the second half of the year. As a consequence of this strong first semester, Sensirion raises its outlook for the full-year 2021 and now expects approximately 15% more revenue compared to its initial guidance of CHF 226-245 million (EUR 208-226 million), a gross margin in the high fifties, and an EBITDA margin in the high twenties. Uncertainties, however, remain high also in the second half of 2021 because currently it is unclear how long the challenging supply chain situation and concomitant inventory effects will remain.