Soitec reports full year results of fiscal year 2023

• Revenue reached €1.1bn, up 26% on a reported basis and up 19% at constant exchange rates and perimeter

• EBITDA^[1] margin^[2] reached 36% of revenue, as expected

• Current operating income increased by 37% year on year, to €267m

• Free Cash Flow at €34m with significant investments in capacity increase

• FY’24 guidance confirmed: revenue expected to be stable vs. FY23 at constant exchange rates and perimeter, and EBITDA¹ margin² to remain around 36%

• Soitec confirms managing its business to reach a revenue target of around $2.1 billion in FY’26 with an EBITDA¹ margin² target of around 40% (at a 1.10 Euro/ US Dollar exchange rate)

Bernin (Grenoble), France, June 7^th, 2023 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its full-year results for the fiscal year 2023 (ended on March 31^st, 2023). The financial statements^[3] were approved by the Board of Directors during its meeting today.

Pierre Barnabé, Soitec’s CEO, commented: “In a complex environment, we ended our fiscal year in line with our guidance both in terms of organic growth and EBITDA margin, which represents our highest EBITDA margin ever, at 36%. These great results are a true demonstration of both our commercial success and our capacity to leverage our strong industrial performance. I would like to congratulate Soitec’s teams for their tremendous job and unwavering commitment.

Strong dynamics in our Automotive & industrial and Smart Devices markets will allow us to compensate for the temporary slowdown in the smartphone one. In what is going to be a transition year on our way towards our ambitious growth targets for fiscal year 2026 and beyond, we will continue to increase our production capacity to support our future expansion and to invest in our innovation” added Pierre Barnabé.

[[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 a Capital Markets Day in Paris on June 8th, 2023, at 14:00pm CET. FY’23 results will be commented during this analyst and investor meeting, which will be held in English.

The live webcast and slide presentation will be available on:

https://channel.royalcast.com/landingpage/soitec/20230608_1/