Soitec reports FY'22 second quarter revenue

  • Q2’22 revenue reached €193m, up 40% at constant exchange rates versus Q2’21
  • H1’22 revenue is up 53% at constant exchange rates compared with H1’21, reaching €373m, the highest semester ever achieved by Soitec
  • FY’22 revenue guidance is now expected at around $975m (previously around $950m), up around 45% at constant exchange rates
  • FY’22 Electronics EBITDA[1] margin[2] is also upgraded, from around 32% to around 34%

[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 an alternative to any other financial indicator.

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

Bernin (Grenoble), France, October 20th, 2021 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 192.7 million Euros for the second quarter of FY’22 (ended September 30th, 2021), up 36.9% compared with 140.8 million Euros achieved in the second quarter of FY’21. This reflects the combination of a 40.0% growth at constant exchange rates and a negative currency impact of 3.2% (no change in perimeter).

On a sequential basis, second quarter revenue was up by 5.2% at constant exchange rates compared with the first quarter of FY’22, representing a fifth consecutive quarter-over-quarter organic revenue growth since the first quarter of FY’21.

Paul Boudre, Soitec’s CEO, commented: “With another solid growth achieved during the second quarter, we reached our best semester ever, supported by a robust performance in each one of our end-markets. Thanks to the strong value proposition brought by our products, we continue to benefit from the 5G deployment, from the recovery of the automotive industry as well as from sustained market trends for smart devices. On the back of this high level of activity as well as strong operating performance, we are upgrading both our revenue and EBITDA margin guidance for the full year.

In the past quarter, we also reached another significant step in adopting our corporate purpose, materializing our ambition to bring smart and energy efficient solutions to the world of electronics. Our goal is to foster the performance of our products while reducing both their energy consumption and our own carbon footprint.”

Key events of the quarter

Early redemption of the bonds convertible into and/or exchangeable for new or existing shares (OCEANEs) due June 28, 2023

On September 16th, 2021, Soitec announced its decision to redeem all outstanding OCEANEs due June 28th, 2023, at a price per OCEANE equal to par (i.e. €104.47). On October 8th, 2021, all bondholders had opted for the exercise of their conversion/exchange right at the conversion/exchange ratio of 1 Soitec share per OCEANE. Consequently, 1,319,318 new Soitec shares were issued, representing 3.90% of Soitec share capital. On October 18th, 2021, following the conversion of all OCEANEs 2023, share capital amounts to 70,275,148.00 euros and comprised 34,896,560 ordinary shares, and 241,014 preferred shares, all with a par value of €2.00.

Soitec’s shareholders approve the adoption of a corporate mission for the Company

At the Extraordinary General Meeting held on July 28th, 2021, the adoption of Soitec’s corporate mission was approved by the shareholders. The corporate mission of the Company is defined as follows: “We are the innovative soil from which smart and energy efficient electronics grow into amazing and sustainable life experiences”.

FY’22 Outlook

Soitec is now expecting FY’22 revenue to reach around 975 million US Dollars (as compared to around $950m previously) i.e. a growth of around 45% at constant exchange rates compared to FY’21 revenue.

Thanks to higher level of activity and strong operational performance, Soitec is also upgrading its FY’22 Electronics EBITDA1 margin2 guidance from “around 32%” to “around 34%”.

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Analysts conference call to be held in English on Thursday 21st October at 8:00 am CET.

To listen this conference call, the audiocast is available live and in replay at the following address:!/soitec/20211021_1

Download the release