Soitec reports FY'23 second quarter revenue

  • Q2’23 revenue reached €268m, up 39% on a reported basis and up 28% at constant exchange rates and perimeter
  • Strong growth was achieved across all divisions
  • H1’23 revenue is up 18% at constant exchange rates and perimeter compared with H1’22, reaching €471m
  • FY’23 guidance confirmed: revenue growth expected around 20% at constant exchange rates and perimeter, and EBITDA margin expected around 36%

Bernin (Grenoble), France, October 26th, 2022 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced consolidated revenue of 268 million Euros for the second quarter of FY’23 (ended September 30th, 2022), up 39% on a reported basis compared with 193 million Euros achieved in the second quarter of FY’22. This reflects the combination of a 28% growth at constant exchange rates and perimeter and a positive currency impact of 11%[1].

Pierre Barnabé, Soitec’s CEO, commented: “After several months in Soitec, I am thrilled and proud to announce this quarterly revenue. The Q2’23 performance reflects the strong dynamics in each of our three markets and a robust industrial execution. Mobile communications growth continued to be driven by radiofrequency applications that are supported by the growing 5G deployment. For the second consecutive quarter, we recorded a strong surge in FD-SOI wafer sales across our three end markets, confirming the solid momentum on its adoption. With this H1’23 performance, we do confirm our outlook for the full year.”

[1] 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.

Key events of the quarter

STMicroelectronics and GlobalFoundries to advance FD-SOI ecosystem with new 300mm manufacturing facility in France

On July 11th, 2022, STMicroelectronics and GlobalFoundries announced the creation of a new, jointly-operated 300-mm semiconductor manufacturing facility adjacent to ST’s existing site in Crolles, France. This new facility will support several technologies, in particular FD-SOI-based technologies, and will cover multiple variants. This includes GF’s market leading FDX technology and ST’s comprehensive technology roadmap down to 18nm, which are expected to remain in high demand for Automotive, IoT, and Mobile applications for the next few decades. The facility is targeted to ramp at full capacity by 2026, with up to 620,000 wafers per year production at full build-out.

Pierre Barnabé succeeds Paul Boudre as CEO

On July 26th, 2022, Soitec held its Annual Shareholders’ Meeting, during which Pierre Barnabé was appointed director of the Company. As planned, he succeeded Paul Boudre as Chief Executive Officer on the same day. Pierre Barnabé joined Soitec on May 1st, 2022, and he has been working closely with Paul Boudre and the Executive Committee during this period to ensure an effective transition.

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Analysts conference call to be held in English on Thursday 27th October at 8:00 am CET.

To listen this conference call, the audiocast is available live and in replay at the following address:!/soitec/20221027_1

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