June 15, 2020 / 5:42 AM / 20 days ago

Sensirion sales skyrocket on COVID-19 demand spike for ventilator sensors

ZURICH, June 15 (Reuters) - Swiss sensor maker Sensirion Holding has lifted its 2020 outlook, on Monday saying sales of gas sensors for medical ventilators needed to treat COVID-19 patients offset slowdowns in other markets like the automotive industry.

Sensirion now expects revenue of 200-240 million Swiss francs ($252 million) during its 2020 financial year, up from a previous target of 178-188 million francs. It also expects an improved adjusted operating margin along with a stable gross margin, the company based in Staefa, near Zurich, said in a statement.

First half sales should be around 113 million francs, up from 84 million francs last year, the company said, as sensors for ventilators bring in around 23 million francs, up from 3 million francs a year earlier.

“The spread of COVID-19 quickly resulted in a sharp increase in the worldwide demand for ventilators,” Sensirion said. “Delivery is expected to peak in the second and third quarters. The further development is currently uncertain and depends heavily on the future course of the pandemic.”

Sensirion currently sees demand normalizing at the beginning of next year. ($1 = 0.9509 Swiss francs) (Reporting by John Miller, editing by John Revill)

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