Soitec reports FY’22 fourth quarter revenue

• FY’22 revenue reached for the first time $1 billion, at €863m, up 50% at constant exchange rates, slightly above the guidance of around 45%

• Q4’22 revenue also reached the record level of €282m, up 53% at constant exchange rates versus Q4’21

• FY’22 EBITDA[1] margin[2] is now expected around 35.5%

• FY’23 revenue expected up around 20% at constant exchange rates and perimeter and EBITDA¹ margin² at least at the level of FY’22 EBITDA¹ margin²

• Soitec managing its business to reach by FY’26 a revenue target of around $2.3 billion and an EBITDA¹ margin² target of around 40% (at a 1.20 Euro/ US Dollar exchange rate)

Bernin (Grenoble), France, April 27^th, 2022 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 282 million Euros for the fourth quarter of FY’22 (ended March 31^st, 2022), up 56% compared with 181 million Euros achieved in the fourth quarter of FY’21. This reflects the combination of a 53% growth at constant exchange rates and a positive currency impact of 3%^[3].

On a sequential basis, fourth quarter revenue was up 35% at constant exchange rates compared with the third quarter of FY’22, representing a seventh consecutive quarter-over-quarter organic revenue growth since the first quarter of FY’21.

Paul Boudre, Soitec’s CEO, commented: “Thanks to another record quarter, we completed our fiscal year with a 50% annual organic growth, an even higher level than initially anticipated allowing us to pass the one billion US dollars revenue mark for the first time. We are very proud of such a strong performance and particularly pleased that significant growth was achieved by all our products, demonstrating the value that we bring to our customers on our three end markets: mobile communications, automotive and industrial, and smart devices.

“Among the key events of the quarter, in line with our FY’26 strategic roadmap, we announced the expansion of our manufacturing footprint in Bernin to ramp up overall production and manufacture innovative SmartSiC™ wafers. SmartSiC™ will primarily address the key challenges of the electric vehicle and industrial markets,” added Paul Boudre.

Fourth quarter FY’22 consolidated revenue (unaudited)

[1] 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 as an alternative to any other financial indicator.

[2] EBITDA margin = EBITDA from continuing operations / Revenue.

[3] The scope effect related to the acquisition of NOVASiC, the closing of which took place on December 29, 2021, had no material impact on Soitec’s revenue.

Analysts conference call to be held in English on Thursday 28^th April 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/20220428_1