First Sensor AG Announces Revised Guidance for 2024 Financial Year

First Sensor AG, a technology company based in Berlin, has made a significant adjustment to its financial outlook for the 2024 fiscal year. This revision comes after a thorough analysis of the preliminary figures for the first half of the year, covering the period from October 1, 2023, to September 30, 2024. The company's Executive Board cites the industrial market's overarching weakness and a delayed recovery scenario as primary factors for this adjustment.

Originally, First Sensor projected sales to be within the range of EUR 135 to 145 million for the fiscal year. However, due to the aforementioned challenges, the company now anticipates revenue to fall between EUR 115 to 125 million. Despite this setback in sales expectations, the planned investment for the year, earmarked at EUR 8 to 10 million, remains unaffected by the revised guidance.

The full details of First Sensor's performance and strategic adjustments will be available in their half-year report, scheduled for publication on May 15, 2024. This adjustment aims to realign the company's financial expectations with the current market conditions, looking ahead to a recovery in fiscal year 2025.