Melexis N.V.

Earnings Release • Jul 30, 2025

Press release - Regulated Information

Melexis Q2 2025 results – Second quarter sales of 211.6 million EUR

Intermediate declaration by the Board of Directors

Ieper, Belgium – July 30th, 2025, 07.00 hrs CET

CONFORM IFRS	Q2 2025	Q2 2024	YOY change	Q1 2025	SEQ change
in k EUR			(%)		(%)
Sales	211,589	245,729	-14%	198,248	7%
Gross result	82,602	108,766	-24%	75,680	9%
Gross Margin	39.0%	44.3%		38.2%
EBIT	35,650	64,358	-45%	28,983	23%
EBIT in %	16.8%	26.2%		14.6%
EBITDA	50,086	76,701	-35%	41,257	21%
EBITDA in %	23.7%	31.2%		20.8%
Net result	37,805	49,069	-23%	24,598	54%
Net result per share (EPS)	0.94	1.21		0.61
CAPEX	10,714	13,223		5,640

Sales for the second quarter of 2025 were 211.6 million EUR, a decrease of 14% compared to the same quarter of the previous year and an increase of 7% compared to the previous quarter. The EUR/USD exchange rate evolution had a negative impact of 2% on sales compared to the same quarter of last year and a negative impact of 3% on sales compared to the previous quarter.

The gross result was 82.6 million EUR or 39.0% of sales, a decrease of 24% compared to the same quarter of last year and an increase of 9% compared to the previous quarter.

R&D expenses were 13.6% of sales, G&A was at 6.3% of sales and Selling was at 2.3% of sales.

The operating result was 35.7 million EUR or 16.8% of sales, a decrease of 45% compared to the same quarter of last year and an increase of 23% compared to the previous quarter.

The net result was 37.8 million EUR or 0.94 EUR per share, a decrease of 23% compared to 49.1 million EUR or 1.21 EUR per share in the second quarter of 2024 and an increase of 54% compared to the previous quarter.

CONFORM IFRS	HY 2025	HY 2024	YOY change
in k EUR			(%)
Sales	409,837	487,543	-16%
Gross result	158,282	215,550	-27%
Gross Margin	38.6%	44.2%
EBIT	64,634	128,087	-50%
EBIT in %	15.8%	26.3%
EBITDA	91,343	151,671	-40%
EBITDA in %	22.3%	31.1%
Net result	62,403	102,015	-39%
Net result per share (EPS)	1.54	2.53
CAPEX	16,354	32,322

Sales for the first half year of 2025 were 409.8 million EUR, a decrease of 16% compared to the first half year of 2024. The EUR/USD exchange rate evolution had no impact on sales compared to the first half year of 2024.

The gross result was 158.3 million EUR or 38.6% of sales, a decrease of 27% compared to the same period last year. R&D expenses were 14.0% of sales, G&A was at 6.5% of sales and Selling was at 2.4% of sales.

The operating result was 64.6 million EUR or 15.8% of sales, a decrease of 50% compared to 128.1 million EUR in the same half year of 2024.

The net result was 62.4 million EUR or 1.54 EUR per share, a decrease of 39% compared to 102.0 million EUR or 2.53 EUR per share in the first half year of 2024.

Dividend

The Board of Directors decided to pay out an interim dividend of 1.30 EUR gross per share. The Melexis shares will start trading ex coupon on October 14, 2025 (opening of the market). The record date is October 15, 2025 (closing of the market) and the dividend will be payable as from October 16, 2025.

Outlook

Melexis expects sales in the third quarter of 2025 to be in the range of 210 to 215 million EUR. For the full year 2025, Melexis expects sales to be in the range of 835 to 845 million EUR, with a gross profit margin around 39% and an operating margin around 16%, all taking into account a EUR/USD exchange rate of 1.17 for the remainder of the year. For the full year 2025, Melexis expects CAPEX to be around 40 million EUR (previously around 50 million EUR).

Business update

Sales of 211.6 million EUR in the second quarter of 2025 resulted in sales of 409.8 million EUR for the first half of 2025, above the guidance of around 400 million EUR. The outperforming product lines in the second quarter were motor drivers, latch & switch and inductive position sensors.

Sales for Beyond Automotive applications represented 12% of total sales in the second quarter of 2025, while 88% of Melexis sales were for automotive applications.

In the second quarter Melexis added a new thermographic infrared sensor to help engineers with temperature monitoring to enhance safety and performance across household, industrial and AI-driven applications.

Additionally, Melexis continues to leverage its proven Triaxis® technology by launching a magnetic position sensor designed to broaden its use to joystick and Human-Machine Interface (HMI) applications in industrial, construction, agriculture and medical sectors.

Quote from CEO Marc Biron

"The second quarter of 2025 showed improvement versus the first quarter for sales and margins. Customers continued to deplete their inventories in the second quarter, and we are able to meet their increased short-term orders. Our Q2 sales were ahead of expectations thanks to sequential growth in China and EMEA, and from an application perspective there were good performances in powertrain and interior lighting for automotive, and in cooling fans for consumer appliances and data centers.

Innovation remains the driver of our success. Design wins in the second quarter showed that Melexis continues to capture opportunities in China and Europe. The top 10 design wins featured 4 in the powertrain split equally over internal combustion and electric motors, and 6 outside the powertrain ranging from braking to lighting applications.

We launched another two new products for Beyond Automotive applications, and among our design wins in the quarter we secured new business for inductive position sensing in sophisticated service robots. The robotics market has a lot of potential for Melexis in the next 5 to 10 years."

The statutory auditor, PwC Bedrijfsrevisoren BV / Reviseurs d'Entreprises SRL represented by Griet Helsen, acting on behalf of Griet Helsen BV, has confirmed that the review of the Condensed consolidated interim income statement, the Condensed consolidated interim statement of financial position and the Condensed consolidated interim statement of cash flows as per June 30, 2025, is substantially completed and concluded that to date, based on the review, nothing has come to the attention that causes them to believe that the Condensed consolidated interim income statement, the Condensed consolidated interim statement of financial position and the Condensed consolidated interim statement of cash flows are not prepared, in all material respects, in accordance with IAS 34, as adopted by the European Union.

Financial Calendar

• Dividend pay date: October 16, 2025 (ex coupon on October 14, 2025)
• Publication Q3 Results 2025: October 29, 2025 (at 7 hrs CET)
• Capital Markets Day: November 5, 2025
• Publication FY 2025 Results: February 4, 2026 (at 7 hrs CET)

The company's results will be discussed in a conference call and an audio webcast on Wednesday, July 30th , 2025 at 10:30 hrs CET.

To register for the conference call (possibility to ask questions)

The conference call will be in English. You have to register for this conference call in advance. You can register by clicking here and filling out the requested information. After registration, you will receive the conference call number, a participant user pin, conference pin and instructions on how to join the conference call. For security purposes, all participants must register individually if they wish to join the call.

To register for the audio webcast (no possibility to ask questions)

You can register for the audio webcast by clicking here.

For more information: Investors Investor Relations Email: investor@melexis.com

Journalists Brand & Communications Email: brandcomms@melexis.com

About Melexis

Melexis designs, develops, and delivers edge sensor and driver solutions with a heart for people and planet. Its mission is to empower engineers to turn their ideas into applications that support the best imaginable future, one that is safe, comfortable and sustainable.

Melexis specializes in powertrain, thermal management, lighting, e-brake, e-steering and battery solutions for the automotive sector. It also expands its presence in the emerging markets of sustainable world, alternative mobility, robotics, and digital health.

Founded in 1989 in Belgium, Melexis has grown to employ over 2,000 people in 12 countries, delivering cutting-edge technology to customers worldwide.

For more information, visit www.melexis.com or follow Melexis on LinkedIn, and YouTube.

Disclaimer

Except for those statements that report the Company's historical results, the statements being made are forward looking statements. Actual results could differ materially from those projected in the forwardlooking statements. Factors which could cause actual results to differ from expectations include the following: volatility in supply and demand affecting revenues and market prices, price and availability of silicon foundry, assembly and test prices, assembly and test subcontract capacity required to meet financial targets and/or meet backlog requirements, risks and delays associated with bringing up new production capabilities or with deliveries from subcontractors, timing and market acceptance of new products, increased expenses associated with new product acceptance of new products, increased expenses associated with new product introductions of process changes, delays in developing or achieving volume production of new products, which can result in delays or failure to contribute to revenues and profits, ability of the Company to maintain its customer and vendor base and delays in and/or inability in raising additional capital.

Condensed consolidated interim income statement

CONFORM IFRS	Quarter	Quarter	Half Year	Half Year	Year ended
	ended 30/6/2025	ended 30/6/2024	ended 30/6/2025	ended 30/6/2024	31/12/2024
in k EUR					audited
Sales	211,589	245,729	409,837	487,543	932,808
Cost of sales	-128,987	-136,962	-251,555	-271,993	-531,457
Gross result	82,602	108,766	158,282	215,550	401,351
R&D	-28,842	-26,533	-57,236	-53,460	-110,252
G&A	-13,261	-13,007	-26,773	-24,517	-51,367
Selling	-4,848	-4,869	-9,639	-9,486	-19,842
Operating result (EBIT)	35,650	64,358	64,634	128,087	219,889
Financial result	8,376	-3,365	7,913	-4,730	-14,568
Result before taxes	44,026	60,993	72,547	123,357	205,321
Income taxes	-6,221	-11,924	-10,144	-21,341	-33,875
Net result	37,805	49,069	62,403	102,015	171,446
Net result per share in EUR	0.94	1.21	1.54	2.53	4.24

Condensed consolidated interim statement of financial position

CONFORM IFRS	Half Year ended 30/6/2025	Half Year ended 30/6/2024	Year ended 31/12/2024
in k EUR			audited
Current Assets :
Cash and cash equivalents	33,912	38,551	32,681
Current investments	300	138	—
A/R Trade	104,820	119,498	102,246
Assets for current tax	31,245	11,130	18,889
Other current assets	99,509	24,770	55,961
Inventories	287,170	256,847	262,815
Total current assets	556,956	450,933	472,593
Non-current assets :
Property, plant and equipment	202,977	204,788	211,120
Leased assets	7,633	7,726	8,801
Intangible fixed assets	1,384	1,480	1,175
Other non-current assets	121,369	192,863	163,581
Deferred tax assets	37,800	33,309	36,985
Total non-current assets	371,162	440,165	421,662
Total assets	928,118	891,098	894,255

CONFORM IFRS	Half Year ended	Half Year ended	Year ended
	30/6/2025	30/6/2024	31/12/2024
in k EUR			audited
Current liabilities : Derivative financial instruments	—	—	228
Current portion of LT debt	5,294		5,797
Lease liabilities	2,024	1,043	2,143
A/P trade	59,074	62,284	63,203
Accrued taxes	4,865	3,817	3,220
Short-term employee benefits accruals	20,721	15,253	18,222
Other current liabilities	4,568	9,049	9,320
Deferred income	3,072	4,417	2,076
Total current liabilities	99,617	95,863	104,210
Non current liabilities :
LT debt less current portion	308,687	229,819	207,525
Lease liabilities	5,716	6,787	6,714
Deferred tax liabilities	2,318	564	3,737
Other non-current liabilities	3,474	4,479	4,567
Total non current liabilities	320,195	241,649	222,544
Shareholders' equity :
Shareholders' capital	565	565	565
Treasury shares	-27,720	—	-4,410
Legal reserve	57	57	57
Retained earnings	478,630	455,810	403,160
Current period's profit	62,403	102,015	171,446
Cumulative translation adjustment	-5,628	-4,861	-3,316
Equity attributable to company owners	508,305	553,586	567,501
Non controlling interests	—	—	—
Total shareholders equity	508,306	553,586	567,501
Total liabilities, shareholders' equity and minority interests	928,118	891,098	894,255

Condensed consolidated interim statement of cash flows

CONFORM IFRS		Quarter ended Quarter ended	Half Year	Half Year	Year ended
	30/6/2025	30/6/2024	ended 30/6/2025	ended 30/6/2024	31/12/2024
in k EUR					audited
Cash flow from operating activities
Net income	37,805	49,069	62,403	102,015	171,446
Adjustments for :
Operating activities	20,508	28,327	39,083	48,958	90,640
Depreciation and amortisation	13,887	11,747	25,577	22,539	45,639
Depreciation leased assets	549	596	1,132	1,045	2,102
Other provisions	-1,089	138	-1,093	139	54
Deferred income	2	1,497	995	1,492	-849
Financial result	938	2,424	2,327	2,402	9,819
Income tax expense/income	6,221	11,924	10,144	21,341	33,875
Operating profit before working capital changes	58,313	77,395	101,486	150,973	262,086
A/R, Trade	-3,721	-2,280	-3,041	709	17,961
Other current assets	-23,769	2,505	-43,548	7,660	-23,532
Other non current assets	22,416	-762	42,212	-11,629	17,652
Inventories	-7,901	-1,317	-28,088	-6,218	-15,335
A/P	2,347	-4,227	-4,129	-17,746	-16,828
Employee benefit liabilities	-981	-10,862	2,478	-8,462	-5,471
Other current liabilities	-4,630	227	-4,753	-3,916	-3,644
Cash generated from operations	42,074	60,681	62,617	111,370	232,890
Interest paid	-2,485	-2,687	-4,862	-5,020	-10,750
Income tax paid	-23,843	-3,582	-22,969	-27,443	-48,913
Cash flow from operating activities	15,746	54,411	34,786	78,907	173,227
Cash flow from investing activities
Purchase of PPE and intangible assets (netted)	-7,887	-10,529	-13,442	-27,128	-53,107
Interest received	42	111	115	188	357
Cash provided from investing activities	-7,845	-10,418	-13,327	-26,940	-52,750
Cash flows from financing activities
Proceeds/Repayment of long-and short-term debt	96,307	56,336	100,659	45,159	28,663
Repayment leasings	-537	-485	-1,081	-961	-2,065
Dividend payment	-95,976	-96,960	-95,976	-96,960	-149,480
Acquisition own shares	-8,333		-23,310		-4,410
Cash provided from financing activities	-8,539	-41,109	-19,709	-52,762	-127,293
Effect of exchange rate changes on cash and cash equivalents	-292	14	-519	-4	148
Increase/decrease in cash and cash equivalents	-931	2,896	1,231	-798	-6,668
Cash at beginning of the period	34,842	35,655	32,681	39,349	39,349
Cash at the end of the period	33,912	38,551	33,912	38,551	32,681

Sales per Geography

	Q2 2025	Q2 2024	HY 2025	HY 2024	FY 2024
APAC	63%	59%	63%	59%	60%
Asia Pacific
EMEA Europe - Middle-East - Africa	29%	31%	28%	32%	31%
NALA	8%	10%	8%	9%	9%
North America - Latin America
TOTAL	100%	100%	100%	100%	100%