Melexis expects Q1 2020 sales at high end of guidance, withdraws full year guidance and reduces dividend
Intermediate declaration by the Board of Directors
Ieper, Belgium – April 1st, 2020, 18.00 hrs CET
Melexis announces today that it expects its first quarter 2020 sales to be around the level of 138 million EUR, at the high end of the 134-138 million EUR guidance provided in the beginning of the year.
Despite this solid start of the year, Melexis has decided to withdraw its full year 2020 outlook as the economic impact resulting from the COVID-19 pandemic cannot be quantified at this moment.
As a matter of prudence and in light of the extreme unpredictability of the current situation, the Board of Directors has decided to propose to the annual shareholders’ meeting to pay out over the result of 2019 a total dividend of 1.30 EUR gross per share, which was paid in October 2019 as interim dividend, meaning a final dividend would not be paid.
Melexis has a strong balance sheet. At the end of the first quarter, Melexis cash position amounted to around 50 million EUR and the outstanding bank debt to 62 million EUR. Unused committed credit lines equal 112 million EUR.Françoise Chombar, CEO, comments:
“We live and operate in unprecedented times, as COVID-19 continues to spread globally, impacting everyday life and work of our people, customers and suppliers. Melexis continues to closely monitor the situation. Supply chain and business contingency planning ensures that our manufacturing sites keep running under the best achievable circumstances. Part of Melexis products like temperature sensors are critical components to many of the equipment to overcome the pandemic, ranging from diagnostics, over fever measurement and respiratory devices. Likewise, we continue to serve our automotive customers in the best possible way.”
Melexis will publish its first quarter 2020 full results on April 29th, 2020 at 7 hrs CET.
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