Soitec Reports FY'24 First Quarter Revenue

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Bernin (Grenoble), France, July 25th, 2023 – Soitec (Euronext Paris), a world leader in the design and manufacture of innovative semiconductor materials, today announces consolidated revenue of 157 million Euros for the first quarter of FY'24 (ended June 30th, 2023), down 23% on a reported basis compared with 203 million Euros achieved in the first quarter of FY'23.

Jul. 25, 2023 – 

Pierre Barnabé, Soitec's CEO, commented: "As expected, in the first fiscal quarter, we faced a global smartphone market slowdown, combined with significant customer inventories absorption. Q1'24 marks the bottom, and we are anticipating a strong H2'24 recovery.

In Mobile Communications, we continue to benefit from the growing penetration of 5G handsets and the growth of RF-SOI content into smartphones. Additionally, we are excited with the increasing adoption of FD-SOI and POI in the wireless market.

Meanwhile, in the Automotive & Industrial markets, our Power-SOI and FD-SOI product lines continue to perform very well, driven by the increasing demand for digitalization and electrification.

Our Smart devices revenue also shows a positive trend, thanks to the increased adoption of our product portfolio, for low power MCUs, edge AI, etc.

We remain confident that FY'24 will show continuous quarter on quarter growth, and maintain both our revenue and EBITDA margin guidance for FY'24."

[1] The EBITDA represents operating income (EBIT) before depreciation, amortization, impairment of non-current assets, non-cash items relating to share-based payments, provisions for impairment of current assets and for contingencies and expenses, and disposals gains and losses. This alternative indicator of performance is a non-IFRS quantitative measure used to measure the company's ability to generate cash from its operating activities. EBITDA is not defined by an IFRS standard and must not be considered an alternative to any other financial indicator

[2] EBITDA margin = EBITDA from continuing operations / Revenue

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