INFICON Holding AG Reports Moderate Q1 Performance and Improved Profit Margins

INFICON Holding AG disclosed its financial results for the first quarter of 2024, marking a minor organic sales decline of 2.1% year-over-year, settling at USD 154.2 million. This figure also falls 11.6% below the previous quarter. Despite the sales dip, the company showcased an enhanced gross profit margin of 47.8%, up from 45.8% in Q1 2023, and increased its operating income by 4.3% to USD 31.3 million.

The company has maintained its 2024 full-year guidance, anticipating sales between USD 650-700 million and aiming for an operating income margin of about 20%. This optimism is based on strong order intake and expected acceleration in market activities towards the second half of the year.

In its sector-wise performance, INFICON reported a variable impact across its markets. The Semiconductor & Vacuum Coating sector, which is INFICON’s major market segment, observed a 15% drop in sales compared to the first quarter of 2023. However, the Refrigeration, Air Conditioning, and Automotive and Security & Energy markets showed robust growth rates of 7.5% and 49.4% year-over-year, respectively.

The company further strengthened its profitability across all levels, enhancing its operating income margin to 20.3% from 19.0% in the same period last year. This increase has been supported by systematic cost management and operational adjustments. INFICON also improved its net cash position and reported a robust equity ratio of 69.8%.