(Oslo, Norway, September 26, 2024) Nordic Semiconductor this afternoon hosts a Capital Markets Day in Oslo, where the company will present strategic priorities and roadmaps designed to drive revenue growth and restore profitability in the years to come.
Nordic’s ambition is to deliver average annual revenue growth above 20% throughout the current decade, enabling the company to achieve the profitability target of its operating model of around 25% EBITDA-margin within five years.
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-Our upcoming product launches offer unique growth opportunities, and we look forward to capitalizing on our innovations. These products will fortify our position as a market leader in wireless connectivity solutions, although the market adoption and commercial ramp-up will take time, says CEO Vegard Wollan in Nordic Semiconductor.
Nordic Semiconductor launches the first products in its next-generation nRF54 Series multiprotocol SoCs (System-on-Chip) later in 2024, bringing unprecedented processing power, energy efficiency, and security to the Bluetooth low energy market.
-The introduction of the groundbreaking nRF54 Series will enable us to launch 2-4 new product families every year and revitalize our broad product portfolio in the short-range market. These products are developed in collaboration with our key customers and made available to the broad market as standard products, says Wollan.
Earlier in September, the company established a new standard in the long-range cellular market with the launch of the nRF9151 SiP (System-in-Package).
On the CMD, Nordic will also present certain financial ambitions for its established business in Short-range, its scale-up business in Long-range, and its early-stage businesses in Wi-Fi and Power Management (PMIC):
• Nordic’s ambition for the Short-range business is to grow faster than its serviceable market over time, driven by product launches. The company sees modest growth with only limited effect of the new nRF54 Series in 2025 and expects accelerating growth from 2026 onwards.
• Nordic expects this to enable an EBITDA of 25% for the established business in Short-range in 2027, including the Group’s SG&A costs.
• Nordic plans for scaling of its Long-range business towards profitability in 2028. This will require establishing a revenue base of more than USD 100 million through penetration of selected target markets within asset tracking, metering, and industrial IoT with new products.
• Nordic also plans to move its early-stage businesses in Wi-Fi and PMIC towards profitability in 2028, which will require establishing revenue bases of more than USD 50 million in each of the business areas.
-We continue to move forward with clear and ambitious action plans, and each of our business areas will be held accountable to our overarching goal to restore profitability. We need to drive growth and maintain or improve gross margins but we also we need to grow without adding too much cost. As a first step to show our operational leverage, we are looking to grow our revenue in 2025 with a flat cost base compared to 2024, adds Vegard Wollan.
Practical information:
Please find enclosed CEO Vegard Wollan’s presentation for today’s CMD. The other presentations will be made available at the start of the event at 12:30 CEST on Nordic’s web page.
The CMD event is a physical and virtual event open to investors, analysts, media and other stakeholders. Please register for the physical, virtual, or combined events at Capital Markets Day 2024 - Nordic Semiconductor.
Location: Sjølyst Møtesenter, Drammensveien 165, Oslo, Norway. Live Webcast available at www.nordicsemi.com/IR.
Please note that virtual attendees will not be able to ask questions during the Q&A session.
However, the company will host separate Post-Capital Markets Day group Q&A calls on Friday, September 27th. For details on how to sign up in your region, please visit our IR calendar at www.nordicsemi.com/IR.
Agenda (CEST):
12:30-13:00: Registration and refreshments
13:00-16:45: Presentations by Nordic management, including a panel session hosted by Rob Sanders (Deutsche Bank) and Christoffer Wang Bjørnsen (DNB).
17:00-19:00: Social gathering with refreshments at Nordic’s offices in Drammensveien 126, Oslo.
We encourage everyone to visit https://www.nordicsemi.com/Investor-Relations#IRCalendar to stay informed with the latest updates regarding the event.
For further information, please contact:
Ståle “Steel” Ytterdal, SVP IR, Nordic Semiconductor ASA
Phone: +47 930 37 430
About Nordic Semiconductor:
Nordic Semiconductor has been a pioneer in ultra-low power wireless solutions, from proprietary technologies for PC accessories to today’s Bluetooth low energy and multiprotocol products and long-range cellular IoT solutions. Nordic Semiconductor is the clear market leader in the ultra-low power wireless segment, serving a growing market in consumer electronics, wearables, building and retail, healthcare and an increasing number of other verticals and applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway.
This information is subject to the disclosure requirements according to §5-12 in the Norwegian Securities Trading Act.
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