Memscap, a manufacturer of high-precision sensors, reported above-expectation results for the first quarter on Thursday, boosted in particular by the dynamism of its aerospace business.
The Grenoble-based group's share price rose by 10% following this publication, bringing its year-to-date increase to over 130%.
Its consolidated sales from continuing operations came to 3.7 million euros in the first three months of the year, compared with 2.3 million a year earlier, an increase of 60.8%.
Its quarterly EBITDA came to 741,000 euros, compared with 266,000 euros in Q1 2022, for an operating profit of 505 thousand euros, compared with a profit of 31.000 euros a year earlier.
In a reaction note, Euroland analysts refer to "spectacular" growth and figures well above their expectations.
The brokerage firm, which reiterates its buy recommendation on the stock, indicates that it has raised its target price on the stock from 4.15 to 5.10 euros.
Despite the sharp rise in its share price, Euroland says it considers current levels to be an attractive entry point in view of the company's growth and profitability prospects.
Memscap manufactures high-precision, high-stability pressure sensors for the aerospace and medical sectors, as well as variable attenuators (VOA) for optical communications.
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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.
MEMSCAP 
