Soitec reports second quarter revenue and half-year of fiscal year 2025

● H1’25 revenue amounted to €338m, down 15% at constant exchange rates and perimeter year-on-year, in line with guidance, and down 16% on a reported basis

● Q2’25 revenue reached €217m, down 9% at constant exchange rates and perimeter compared to Q2’24 and up 89% sequentially at constant exchange rates and perimeter

● H1’25 EBITDA margin at 33.4%, up 40bps compared to H1’24

● H1’25 Free Cash Flow increased by €120m year on year to +€35m while maintaining strong R&D and industrial investments

● H1’25 current EBITDA reached €28m

● FY’25 revenue and EBITDA guidance confirmed: revenue expected to be stable year-on-year at constant exchange rates and perimeter, and EBITDA margin expected at around 35%

● FY’25 planned capex slightly reduced from €250m to €230m

Bernin (Grenoble), France, November 20th, 2024 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its revenue for the second quarter of fiscal year 2025 and its half-year results of fiscal year 2025 (ended on September 30th, 2024). The interim consolidated financial statements were approved by the Board of Directors during its meeting today.

Pierre Barnabé, Soitec’s CEO, commented: “As announced, after reaching the bottom in the first quarter, the rebound of second quarter revenue enabled the first half of the fiscal year to be in line with our expectations. Although sales continued to be impacted by the RF-SOI inventory correction, and the weak Automotive market, we have benefited from the increasing POI penetration and from the fast-growing data center market. The product portfolio diversification provided strong resilience of business strength and enabled the company to continue its growth in diversified end markets. Despite lower revenue, our cash generation proved solid, allowing us to keep investing both in industrial capacity and in R&D to be ready to capture future growth, while maintaining a healthy balance sheet. We are confident in our ability to extend our rebound in the second part of our fiscal year, notably in the fourth quarter, as the situation of RF-SOI inventory level started to improve, allowing us to achieve our stable full-year revenue guidance together with around 35% EBITDA margin. For calendar year 2025, we anticipate different dynamics across our three end markets, with Mobile Communications market expected to continue to slightly improve, Automotive & Industrial market weakness persisting through the first half of the year, and Cloud AI investments to remain at elevated levels. Thereafter, our mid-term ambition to reach 2 billion dollars revenue will continue to be supported by the increasing adoption of engineered substrates, to deliver more powerful and energy-efficient solutions to a higher number of customers across our three end markets.”