KISTA, Sweden, July 18,
2024 /PRNewswire/ -- Sivers Semiconductors AB (STO:
SIVE), a leading supplier of integrated chips and modules for
advanced communications and sensor solutions for AI Photonics,
SATCOM, and 5G/6G, today announced its second-quarter results for
the fiscal year 2024. The company demonstrated continued growth,
securing significant new orders and improving its financial
performance.
Financial Highlights:
- Q2 2024 revenue of SEK 52,3
million, a 14% increase from SEK 45,8
million in Q2 2023.
- Adjusted EBITDA improved by 25% to SEK
-12,4 million from SEK -16,6
million in Q2 2023.
- EBITDA improved by 28% to SEK -14,8
million from SEK -20,6 million
in Q2 2023.
Operational Highlights:
- Secured three important 5G design wins, including a major
global company. These three projects have a potential combined
sales of approximately one million units of 5G products over the
first three years of production, starting in 2026. We anticipate a
substantial upside to this projection depending on our customers'
success in their end markets.
- Product sales grew from 15% to 39% of total sales, representing
50% of the target of over 80% product sales by 2026.
- Strengthened the pipeline with substantial new orders,
positioning the company for accelerated growth in the second half
of the year.
CEO Comments: "The growth journey continues," said
Anders Storm, Group CEO of Sivers
Semiconductors. "Despite a planned pause in growth during the
first half of 2024, it is very gratifying that we managed to
achieve significant sales growth compared to the same period last
year. This stability lays a solid foundation for a robust full year
in 2024."
"Extra gratifying is that product sales have grown
significantly, making up 39 percent of our total sales, which
represents 50 percent of our 2026 target of over 80 percent. The
three 5G design wins, including a major global company, underscore
our leadership and innovation in this critical technology
area."
Strategic Outlook: Sivers Semiconductors continues to
focus on expanding its footprint in the 5G, SATCOM, and AI
Photonics markets. The company's participation in key industry
events and strategic partnerships positions it well for sustained
growth.
"The wireless business unit is leading the way in this growth
with 26 percent growth year-over-year, and winning three new design
awards in 5G since the last quarter shows that Sivers keeps our
great overall positive momentum. We expect clearly stronger growth
in the second half of 2024," added Storm. "Our strategic
initiatives and investments in cutting-edge technology are yielding
results, and we are confident in our ability to continue delivering
value to our stakeholders."
For more information, please contact:
Anders Storm, Group CEO of Sivers
Semiconductors
Tel: +46 (0)70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
This disclosure contains information that Sivers
Semiconductors is obliged to make public pursuant to the EU Market
Abuse Regulation (EU nr 596/2014). The information was submitted
for publication, through the contact person set out above, on
July 18, 2024 at 08:00 CET.
Sivers Semiconductors AB (SIVE.ST) is a
leader in SATCOM, 5G, 6G, Photonics, and Silicon Photonics that
drives innovation in global communications and sensor technology.
Our business units, Photonics and Wireless, supply cutting-edge,
integrated chips and modules critical for high-performance gigabit
wireless and optical networks. Catering to a broad spectrum of
industries from telecommunication to aerospace, we fulfill the
increasing demand for computational speed and AI application
performance, replacing electric with optical connections for a more
sustainable world. Our wireless solutions are forging paths in
advanced SATCOM/5G/6G systems, while our photonics expertise is
revolutionizing custom semiconductor photonic devices for optical
networks and optical sensing, making us a trusted partner to
Fortune 100 companies as well as emerging unicorns. With innovation
at our core, Sivers Semiconductors is committed to delivering
bespoke, high-performance solutions for a better-connected and
safer world. Discover our passion for perfection
at www.sivers-semiconductors.com.
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The following files are available for download:
https://mb.cision.com/Main/11695/4015875/2920404.pdf
|
Sivers Interim report
Q224_240718
|
https://mb.cision.com/Public/11695/4015875/9e5a9f429566cf09.pdf
|
Sivers Semiconductors
Q22024 PR EN 240718
|
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