Soitec reports FY’23 fourth quarter revenue

  • Q4’23 revenue reached the record level of €344m, up 22% on a reported basis and up 16% at constant exchange rates and perimeter versus Q4’22
  • FY’23 annual revenue reached the strong level of €1,089m, up 26% on a reported basis compared with FY’22, or up 19% at constant exchange rates and perimeter, in line with guidance
  • FY’23 EBITDA[1] margin[2] expected around 36% in line with the guidance
  • FY’24 annual revenue expected to be stable at constant exchange rates and perimeter compared with FY’23 and FY’24 EBITDA1 margin2 expected to remain at around 36%
  • Soitec is 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, April 26th, 2023 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 344 million Euros for the fourth quarter of FY’23 (ended March 31st, 2023), up 22% on a reported basis compared with 282 million Euros achieved in the fourth quarter of FY’22. This results from the combination of a 16% growth at constant exchange rates and perimeter[3] and a positive currency impact of 6% compared with the fourth quarter of FY’22.

FY’23 annual revenue reached 1,089 million Euros, up 26% on a reported basis against 863 million Euros achieved in FY’22. At constant exchange rates and perimeter[4], FY’23 revenue grew by 19% compared with FY’22, in line with the guidance of “around 20%” announced one year ago.

Soitec also announced today that Chief Operating Officer Bernard Aspar will leave the company in August to take up new challenges, after 17 years at Soitec. Bernard Aspar joined Soitec upon its 2006 acquisition of Tracit Technologies, the company he founded as a spin-off from CEA-Leti, and subsequently helped to lead the development and deployment of Smart CutTM technology.

Pierre Barnabé, Soitec’s CEO, commented:

“We delivered another record quarter and finished the year with an annual organic growth of 19%, in line with our guidance. In the context of a global smartphone market slowdown, we continued to benefit from the penetration of high-end 5G handsets and the growth of Soitec content within smartphones. The automotive market, where we leverage increasing demand for digitalization and electrification, remained robust. Sustained growth across our product portfolio developed for Smart devices completed this strong performance.”

“Going forward, we will face inventory clearing in the smartphone market supply chain and we expect it to last two quarters, resulting in lower performance in the mobile communications business. For the year as a whole, we expect to offset this by taking advantage of continuous strong demand for both Automotive & Industrial and Smart devices. Overall, after a stable revenue anticipated in the fiscal year 2024 on an organic basis, we expect strong growth momentum to resume as we manage our business to reach a target revenue of around $2.1 billion in fiscal year 2026.”

“I would also like to take this opportunity, on behalf of Soitec, to thank Bernard for the valuable support he has provided during the leadership transition of the past 15 months, and for his extensive contribution to the company’s success over the years.”

Fourth quarter FY’23 consolidated revenue (unaudited)




(Euros millions)

change reported

chg. at const. exch. rates & perimeter

Mobile communications





Automotive & Industrial





Smart devices





Total revenue





Soitec achieved its highest quarter ever in the fourth quarter of FY’23, with total revenue reaching 344 million Euros. This represents a 16% growth at constant exchange rates and perimeter3 compared to the fourth quarter of FY’22, reflecting a continuously strong momentum in Automotive & Industrial, a sustained growth in Smart devices and a slower one in Mobile communications.

[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] There was no scope effect in Q4’23

[4] 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 27th April at 8:00 am CET.

To listen this conference call, the audiocast is available live and in replay at the following address:!/soitec/20230427_1

Download the release