Memscap: profit-taking on the stock market after results
January 24, 2024 at 06:13 am EST
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Memscap shares were down late Wednesday morning, the victim of some profit-taking the day after the publication of its annual results, marked by "profitable hyper-growth" in the words of the group itself.
Shortly before 12:00, the share price of the manufacturer of high-precision pressure sensors for the aerospace and medical markets fell by 1.4%, while the Paris market gained an average of 0.8%.
The specialist in miniaturized MEMS component technology said that last year it recorded 50.7% growth in sales, which exceeded 14 million euros, for fiscal year 2023.
Operating profit increased tenfold, to 2.5 million euros, while net income stood at 2.1 million.
In a press release, the Group states that this performance confirms its forecast trajectory to 2026, based on an average annual growth rate of 20% combined with high levels of profitability.
While Euroland's analysts hailed the results as "spectacular figures", the market seemed to feel that it was now time for the stock to take a breather, after a surge of almost 380% over the last 12 months.
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Memscap is the leader in designing, manufacturing and marketing components, modules, systems and solutions based on micro electro-mechanical systems (MEMS). MEMS combine semiconductor micro-electronics with micro-manufacturing technology to make entire systems contained on one chip. The group organizes its activity around 3 core sectors:
- standard products: integrating the design and manufacture of sensors and multifunctional measurement systems for the areas of medicine, biomedicine, aerospace industry and defense;
- customized products: including the design and manufacture of MEMS components, the intellectual property licenses granting and customers cooperation projects for the custom-made development and production;
- dermo-cosmetic pole: integrating the operations and management of the group's assets related to the areas of dermatology and cosmetology, including the Ioma brand.
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