on MERSEN (EPA:MRN)
Mersen: A Record-Breaking 2024 First Quarter
Mersen announced a significant growth in sales for the first quarter of 2024, reaching €312.5 million, which marks an organic growth of nearly 7% compared to the same period in 2023. This growth includes a nearly 3% increase from price adjustments, with notable currency fluctuations involving the Chinese renminbi and the US dollar.
The sales increase was consistent across Mersen's two primary segments, Advanced Materials and Electrical Power, with respective growths of 8.9% and 4.2% organically. Geographical growth was also robust, spanning Europe, Asia-Pacific, and North America. CEO Luc Themelin highlighted the strong performance in SiC semiconductors and various transportation markets, affirming that the company is on track with its 2024 targets.
For 2024, Mersen remains confident in achieving its full-year objectives, projecting around 5% organic sales growth and aiming for an operating margin of approximately 11%. Capital expenditures are forecasted to be between €200 million and €240 million, aligning with the company's strategic growth plans.
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