INFICON with solid start and improved margins

INFICON Holding AG / Key word(s): Quarter Results INFICON with solid start and improved margins 25-Apr-2024 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Corporate Contact Matthias Tröndle Chief Financial Officer [phone] [e-mail]

'Ad hoc announcement pursuant to Art. 53 LR'

Announcement of INFICON Holding AG
 Bad Ragaz/Switzerland, April 25, 2024 

• First quarter 2024 sales of USD 154.2 million nearly flat compared with
  first quarter of last year (-2.5%) and 11.6% below record-high fourth quarter of 2023
• Stronger gross profit margin of 47.8% (Q1 2023: 45.8%), operating income up 4.3%
  to USD 31.3 million (Q1 2023: 30.0 million), margin of 20.3% (Q1 2023: 19.0%)
• Unchanged Guidance 2024: Sales of USD 650-700 million; Operating income margin around 20%

INFICON (SIX Swiss Exchange: IFCN) reports solid first quarter 2024 sales of USD 154.2 million. This equals organically a decline of 2.1% or – including negative currency effects of 0.4 percentage points – a minus of 2.5% over the same period of last year. It is 11.6% below the record-high last quarter of 2023. The gross profit margin increased to 47.8%, up from 45.8% a year ago, and the operating income margin improved to 20.3% after 19.0% recorded for the same period of last year. Sales generated in the first three months of the year softened compared with the prior-year period and the strong and record-high preceding quarter due to the short-term weaker market dynamic. This reflects in particular the slower momentum in the semiconductor related business, and in Asia at the beginning of the year. Based on the situation in the four target markets, a solid order intake, and an expected acceleration in the second half of the year, INFICON maintains its guidance for 2024 with sales of USD 650-700 million and an operating income margin of around 20%.