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Soitec announces consolidated sales of 281.0 million Euros for the full year 2010-2011
• Full year sales up by 34.4% in Euros
• Positive current operating result anticipated for the full year despite unfavourable sequential exchange impact in H2
Bernin, France, 18th April 2011 – Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials at the frontier of the most exciting challenges for energy and electronics, today announced consolidated sales of 78.6 million Euros for the fourth quarter up by 20.8% on a sequential basis and 25.6% on a yearly basis. For the full year 2010-2011 sales totalled 281.0 million Euros having benefited from a strong rebound in demand in the fourth quarter.
| Sales (Euros millions) | 2010-2011 | 2009-2010 | Change |
| 1st quarter | 68.6 | 43.8 | 56.5% |
| 2nd quarter | 68.7 | 50.4 | 36.3% |
| 3rd quarter | 65.1 | 52.3 | 24.4% |
| 4th quarter | 78.6 | 62.6 | 25.6% |
| TOTAL | 281.0 | 209.1 | 34.4% |
Q4 activity confirms positive momentum for overall Soitec semiconductor markets
Reported fourth-quarter sales confirm strong rebound in semiconductor demand on computing, consumer electronics and automotive or industrial applications. Sequentially fourth-quarter wafer sales of 70.2 million Euros recorded a growth of 21.4% at constant exchange or 20.5% on a reported basis. 300mm wafers sales increased by 23.5% at constant exchange and 22.6% in Euros and other diameters by 15.1% at constant exchange and 14.3% on a reported basis. Picogiga reported Q4 sales of 2.7 million Euros representing sequential increase of 34.5% and Tracit sales were at 2.3 million Euros. Royalties were 0.9 million Euros. Solar sales totalled 2.5 million Euros.
For the full year, total wafer sales were 253.1 million Euros, up over the prior year by 30.7% or 22.4% at constant exchange. 300mm wafer sales (77.3% of all wafer sales) growth narrowed to 15.0% at constant exchange. All other diameter wafer sales were up by 57.1% at constant exchange reflecting the successful ramp up in the automotive market and other more recent contributions from RF markets or lighting markets. Picogiga sales grew by 18.6% to 9.3 million Euros. Tracit sales doubled to 9.6 million Euros. Royalties were down by 8.5% at 3.2 million Euros. Solar sales totalled 5.8 million Euros.
Positive current operating result anticipated for the full year despite unfavourable sequential exchange impact in H2
Despite sequential increase in Euro/Dollar parity in H2 (1.37 vs 1.28 in H1) and sequential sales growth of 4.7%, current operating result in H2 anticipated to be almost breakeven. Including Solar Energy activity, reported current operating income for the full year is expected to be slightly positive.
Business forecast for medium term drives strong sales growth
Business demand for semiconductors remains well oriented in the beginning of the new financial year with short term demand still increasing in coming quarters. Benefiting also from a strong momentum for its solar technology the company will implement industrial investment to meet the circa 180 MW solar power contracts already released.
Agenda
The annual results for the financial year 2010-2011 will be published on 18th May 2011 after the closure of the Paris Bourse.
About Soitec
Soitec (Euronext Paris) is an international manufacturing company, a world leader in generating and manufacturing revolutionary semiconductor materials, at the frontier of the most exciting energy and electronic challenges. Soitec’s products encompass substrates for micro and nanoelectronics (most notably SOI : Silicon-On-Insulator) and concentrating photovoltaic systems (CPV). The company's core technologies are Smart Cut™, Smart Stacking™ and Concentrix™, as well as expertise in epitaxy. Soitec delivers enhanced performance and energy efficiency to a broad range of applications including consumer and mobile electronics, microelectronics-driven IT, telecommunications, automotive electronics, lighting products and solar power plants for large scale utilities. Soitec has manufacturing plants and R&D centers in France, Singapore, Germany, and the United States.
For more information, visit www.soitec.com.
For all information, please contact:
Investor Relations Contact
Olivier Brice
+33 (0)4 76 92 93 80
olivier.brice@soitec.com
International Media Contact
Camille Darnaud-Dufour
+33 (0)6 79 49 51 43
camille.darnaud-dufour@soitec.com
French Media Contact
Marie-Caroline Saro
H&B Communication
+33 (0)1 58 18 32 44
mc.saro@hbcommunication.fr