Mersen's First Quarter 2025 Performance Aligns with Expectations

Mersen reported first-quarter 2025 sales of €305 million, a decrease of 6.4% organically and 2.5% reported, aligning with the group's projections. Sales excluding solar and SiC semiconductor markets showed organic growth. Currency fluctuations involved the US dollar and the Chinese renminbi, while recent acquisitions, such as GMI, KTK, and Bar-Lo, contributed positively to the scope effect. Pricing adjustments contributed a 1% annual increase.

Advanced Materials sales dropped by 11.4% on a like-for-like basis, particularly impacted by reduced solar and semiconductor demands but compensated somewhat by gains in aeronautics and rail sectors. Electrical Power sales rose 2% as reported, driven by transportation and electric vehicles, yet faced declines in electrical distribution.

Regional performance varied, with Europe down 1.4% due to semiconductor market declines, while North America grew 5.1% aided by acquisitions. The group maintains its 2025 guidance, anticipating better second-quarter organic growth.