Soitec reports full year '19 results

  • Sales: up 42% at constant exchange rates and perimeter1 to €443.9m
  • Current operating income up 61% to €108.4m
  • Electronics EBITDA2 margin3 at 34.3% of sales, up from 29.2% in FY’18
  • Net profit at €90.2m
  • Electronics net operating cash flow at €59.3m
  • Electronics capex at €120.7m, mainly allocated to capacity expansion
  • €150m convertible bonds (2023 OCEANEs) issued at zero coupon
  • FY’20 guidance: sales growth expected around 30% at constant exchange rates and perimeter1 and Electronics EBITDA2 margin3 expected around 30%

[1] At constant exchange rates and comparable scope of consolidation; scope effects relate to the acquisitions of Frec|n|sys in October 2017 and Dolphin Integration assets in August 2018, both included in the segment Royalties and other revenues.

[2] The EBITDA represents the current operating income (EBIT) before depreciation, amortization, non-monetary items related to share-based payments, and changes in provisions on current assets and provisions for risks and contingencies, excluding income on asset disposals. The impact in equity of the first time application of IFRS 15 is included in EBITDA. 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.

[3] Electronics EBITDA margin = EBITDA from continuing operations / Sales.

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