Soitec reports full year results of fiscal year 2022
- Revenue reached for the first time $1 billion, at €863m, up 50% at constant exchange rates versus FY’21
- Current operating income more than doubled versus FY’21 to €195m
- Operating Cash Flow up 46% versus FY’21 to €255m
- Positive Free Cash flow at €42m while investments in capacity increased strongly
- FY’23 revenue expected up around 20% at constant exchange rates and perimeter and EBITDA1 margin2 expected around 36%
Bernin (Grenoble), France, June 8th, 2022 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its full-year results for fiscal year 2022 (ended on March 31st, 2022). The financial statements[3] were approved by the Board of Directors during its meeting today.
Paul Boudre, Soitec’s CEO, commented: “The sharp 50% revenue growth achieved in our fiscal year 2021-22, setting a new record above one billion US dollars in revenue, demonstrates our ability to leverage the decisive role that our substrates are playing in driving world’s transformation through our end markets, whether it will be mobile communications, automotive and industry, or smart devices. Our products enable more sustainable, and energy efficient solutions.
We also benefited from the unwavering commitment of our teams in delivering a strong operating performance, allowing us to gain more than five points in EBITDA margin.
In order to keep pace with our customers’ needs and support their increasing demand, we are confident in our ability to scale up our organization, further investing both in our human capital and in our industrial capacity for which our strong financial position is instrumental. We are very pleased to announce that we decided the extension of our Pasir Ris facility in Singapore that will be dedicated to 300mm SOI wafers,” added Paul Boudre.
[[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]] Audit procedures were completed and the audit report is in the process of being issued.
Soitec will host an analyst and investor meeting in Paris on June 9th, 2022, at 14:00pm CET to comment its FY’22 results. The meeting will be held in English.
The live webcast and slide presentation will be available on:
https://channel.royalcast.com/landingpage/soitec/20220609_1/