MEMSCAP – Q1 2024
Double-Digit Growth in Aerospace and Medical Sales - Seite 2
The optical communications segment continued to exhibit significant volatility due to the Asian context and investments dedicated to optical fiber. Sales for the first quarter of 2024 amounted to EUR 341 thousand compared to EUR 558 thousand for the first quarter of 2023. Thanks to its fabless organization, this business remains a profitability support factor for the Group, regardless of the activity levels in this market.
Analysis of consolidated income statement
MEMSCAP’s consolidated earnings (non-audited) for the first quarter of 2024 are given within the following table:
In thousands of euros – Non-audited |
Q1 2023 |
Q1 2024 |
Revenue from continuing operations |
3,668 |
3,832 |
Cost of revenue |
(2,146) |
(2,298) |
Gross margin |
1,522 |
1,534 |
% of revenue |
41.5% |
40.0% |
Operating expenses* |
(1,017) |
(1,026) |
Operating profit / (loss) |
505 |
508 |
Financial profit / (loss) |
(1) |
109 |
Income tax expense |
(34) |
(9) |
Net profit / (loss) |
470 |
608 |
* Net of research & development grants. |
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The gross margin rate stood at 40.0% of consolidated revenue compared to 41.5% in the first quarter of 2023. This rate is notably impacted for the quarter by the integration and training of new hires in the production department. The gross margin thus amounted to EUR 1,534 thousand compared to EUR 1,522 thousand for the first quarter of 2023.