Sivers Semiconductors Announces Q2 Results: Strategic Growth and Key 5G Design Wins, Including a Major Global Company
KISTA,
Financial Highlights:
- Q2 2024 revenue of
SEK 52,3 million , a 14% increase fromSEK 45,8 million in Q2 2023. - Adjusted EBITDA improved by 25% to
SEK -12,4 million fromSEK -16,6 million in Q2 2023. - EBITDA improved by 28% to
SEK -14,8 million fromSEK -20,6 million in Q2 2023.
Operational Highlights:
- Secured 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. We anticipate a substantial upside to this projection depending on our customers' success in their end markets.
- Product sales grew from 15% to 39% of total sales, representing 50% of the target of over 80% product sales by 2026.
- Strengthened the pipeline with substantial new orders, positioning the company for accelerated growth in the second half of the year.
CEO Comments:
"The growth journey continues," said
"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."
Strategic Outlook:
"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."
For more information, please contact:
Tel: +46 (0)70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
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The following files are available for download:
Sivers Interim report Q224_240718 |
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https://mb.cision.com/Public/11695/4015875/9e5a9f429566cf09.pdf |
Sivers Semiconductors Q22024 PR EN 240718 |
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