Sivers Semis announces Q2 results
Swedish comms chip and module company Sivers Semiconductors has announced its second-quarter results for the fiscal year 2024, with continued growth.
Q2 2024 revenue was €4.5 M (SEK 52.3M), a 14 percent increase from €3.97 (SEK 45.8M) in Q2 2023. Adjusted EBITDA improved by 25 percent to -€1.07M (SEK -12.4M) from -€1.44M (SEK -16.6M) in Q2 2023. EBITDA improved by 28 percent to -€1.28M (SEK -14.8M) from -€1.79M (SEK -20.6M) in Q2 2023.
Operational highlights during the quarter included 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. Sivers says it anticipates a substantial upside to this projection "depending on our customers' success in their end markets."
"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."
Outlook
Commenting on the outlook, Storm said: "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."
