Soitec reports FY’21 third quarter revenues
- Q3’21 revenues reached €149m, up 15% at constant exchange rates and perimeter[1] versus Q3’20
- First nine months of FY’21 revenues are up by 5% at constant exchange rates and perimeter1 compared with the first nine months of FY’20, reaching €403m
- FY’21 guidance confirmed: sales expected to be stable at constant exchange rates[2] and perimeter1 and Electronics EBITDA[3] margin[4] expected around 30%
Bernin (Grenoble), France, January 20th, 2021 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenues of 148.7 million Euros for the third quarter of FY’21 (ended December 31st, 2020), up 9.9% compared with 135.3 million Euros achieved in the third quarter of FY’20. This is the result of a 14.7% increase at constant exchange rates and a negative currency impact of 4.8%.
On a sequential basis, third quarter sales were up by 7.2% at constant exchange rates compared with the second quarter of FY’21, confirming the quarter-over-quarter sales increase that was anticipated at the beginning of the fiscal year.
Paul Boudre, Soitec’s CEO, commented: “As expected, this quarter confirmed the rebound in sales we had already experienced in the previous quarter. We continue to be well on track to achieve flat organic full-year sales.
The deployment of 4G and 5G cellular generations continues to be our main growth driver especially for our products dedicated to radiofrequency applications, including filters. We also see traction coming from applications for automotive, Internet of Things, Artificial Intelligence on the Edge and Cloud computing. Thanks to our advanced technologies and products that are truly shaping connectivity and Edge computing, we are extremely well positioned to benefit from these trends.
In order to support the substantial growth that is ahead of us, we just launched a company-wide job creation program to attract a large variety of new talents. In the meantime, we are very keen to contribute to the objectives of the COP21 Paris Agreement on climate change through our highly performing and low-energy products as well as through the reduction of our own direct carbon footprint, hence our recent commitment to the Science Based Target initiative to set ourselves new ambitious climate and sustainability targets.”
[1] At constant exchange rates and comparable scope of consolidation; scope effect only applies to Q1; it is related to the acquisition of EpiGaN N.V. in May 2019; there was no scope effect in Q2 and in Q3; EpiGaN N.V. was renamed Soitec Belgium N.V. in July 2020; its revenues are included in the segment Royalties and other revenues.
[2] FY’21 net currency exposure at the EBITDA3 level is covered at an average €/$ rate of 1.13, with FY’21 revenue hedged at an average €/$ rate around 1.15
[3] The EBITDA represents the 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. 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.
[4] Electronics EBITDA margin = EBITDA from continuing operations / Sales.
Analysts conference call to be held in English on Thursday 21st January at 8:00 am CET
To listen this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20210121_1