Sensirion: Raised outlook for full-year 2021

High demand in first half of the year results in strong revenue and profitability development In the first half of 2021, a broad and stronger than anticipated recovery from the COVID-19 pandemic across all end markets led to high demand for Sensirion’s sensor solutions. Sensirion now expects revenue of approximately CHF 144 million (prioryear period CHF 114 million) and an EBITDA margin in the low thirties for the first half-year 2021. Profitability increased overproportionally to the revenues because of the relatively low ratio of variable to fixed costs, due to the high operating leverage of the business model as well as delayed ramp-up of costs relative to revenues. Sensirion interprets this demand increase on the one hand as signs of an above-average recovery and on the other hand as build-ups of inventory levels at customers because of the tight situation and shortages in the global supply chains. In addition to the overall demand increase, the business performance is supported by strong growth contributions from new product families in environmental monitoring developed in recent years and recently launched on the market. As foreseen, the COVID19-related one-time ventilator business contributed approximately CHF 17 million. Sensirion expects a normalization of the COVID-19-related business from now on and no further extra sales in the second half of the year. Raised outlook for full-year 2021 As a consequence of this strong first semester, Sensirion raises its outlook for the full-year 2021 and now expects approximately 15% more revenue compared to its initial guidance of CHF 226-245 million, a gross margin in the high fifties, and an EBITDA margin in the high twenties. Uncertainties, however, remain high also in the second half of 2021 because currently it is unclear how long the challenging supply chain situation and concomitant inventory effects will remain. More details on the half-year results as well as the updated full-year guidance will be presented on 25 August 2021. Financial Calendar 25 August 2021 Half-year 2021 results and interim report