Soitec reports first half results of fiscal year 2023

  • Revenue reached €471m in H1’23, up 26% on a reported basis and up 18% at constant exchange rates and perimeter
  • EBITDA[1] margin[2] reached 35.5% of revenue
  • Current operating income increased by 46% to €110m
  • Free Cash Flow was positive at €7m while capacity investments increased further
  • FY’23 guidance confirmed: revenue growth expected around 20% at constant exchange rates and perimeter and EBITDA1 margin2 expected around 36%

Bernin (Grenoble), France, November 23rd, 2022 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its results for the first half of fiscal year 2023 (ended on September 30th, 2022). The financial statements[3] were approved by the Board of Directors during its meeting today.

Pierre Barnabé, Soitec’s CEO, commented: “We achieved another strong performance in the first half of our fiscal year 2023, delivering sustained revenue growth across our three end markets and a robust EBITDA margin. This allowed us to generate a positive free cash flow after having further increased our capacity investments in order to fuel our FY26 Strategic Plan ambitions. We also maintained a very healthy financial position. Soitec is on track to achieve its full-year guidance.

“The first half of the year has also seen great progress on executing on our strategic initiatives, including the release of our first 200-mm silicon carbide SmartSiC wafer or the decision to extend our Singapore-based 300-mm facility. In Bernin, we are on schedule in preparing the building of our future production facility that will be primarily dedicated to SmartSiC engineered wafers and therefore be instrumental in capturing the silicon carbide opportunity for electric vehicles and industrial applications. We are also very pleased with the launch of manufacturing collaboration between GlobalFoundries and STMicroelectronics further enhancing FD-SOI technology adoption,” added Pierre Barnabé.

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H1’23 results will be commented during an analyst and investor conference call to be held in English on November 24th, 2022, at 8:00am CET.

The live webcast and slide presentation will be available on:

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Q3’23 revenue is due to be published on January 25th, 2023, after market close.

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[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.

[3] Review procedures were completed and the review report is in the process of being issued.

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