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 (
Second quarter FY’23 consolidated revenue (unaudited)
As indicated during the presentation of its full-year results in
Q2’22 | Q2’23 | Q2’23/Q2’22 | ||
(Euros millions) | change reported | chg. at const. exch. rates & perimeter | ||
Mobile communications | 142 | 189 | +32% | +22% |
Automotive & Industrial | 17 | 34 | +96% | +80% |
Smart devices | 33 | 45 | +37% | +28% |
Total revenue | 193 | 268 | +39% | +28% |
Mobile communications
Growth in Mobile communications continues to be supported by the adoption of 5G smartphones and WiFi6, as well as the deployment of 5G infrastructure.
In the second quarter of FY’23, Mobile communications revenue reached 189 million Euros, a 22% growth at constant exchange rates and perimeter compared to the second quarter of FY’22, mainly reflecting an increase in volumes.
RF-SOI wafer sales continue to be boosted by the increase in RF content in every 5G smartphone and higher penetration of high-end phones. In the second quarter of FY’23,
FD-SOI wafer sales continue to demonstrate the value for 5G front end modules both on mmWaves and Sub 6 GHz.
Regarding POI (Piezoelectric-on-Insulator) wafers dedicated to RF filters for 5G smartphones, while several customers are confirming the value of POI products, they are going through the adoption phase, a process that will continue in the coming quarters.
Automotive & Industrial
Demand from the automotive industry is increasingly supported by the growing needs for multimedia content (infotainment), by the trends towards more autonomous driving and functional safety, as well as by the shift to greener vehicles powered by electric and hybrid engines.
Automotive & Industrial revenue reached
In the second quarter of FY’23, growth in Automotive & Industrial revenue mostly came from FD-SOI wafers dedicated to automotive applications. Sales of Power-SOI wafers also recorded a significant increase.
Smart devices
The demand from the smart devices market is driven by the need for more complex sensors, higher connectivity functionalities and embedded intelligence, leading to more powerful and efficient edge artificial intelligence chips.
Smart devices revenue reached
Sales of both Imager-SOI wafers, which allow improved imager performance in 3D Imaging Applications, and Photonics-SOI wafers for data transceivers, recorded strong growth compared to the second quarter of FY’22.
The increase in sales of FD-SOI wafers was also very strong, confirming structural demand for Internet of Things (IoT) and Edge Computing devices across consumer and industrial sectors.
First half FY’23 consolidated revenue (unaudited)
H1’22 | H1’23 | H1’23/H1’22 | ||
(Euros millions) | change reported | chg. at const. exch. rates & perimeter | ||
Mobile communications | 277 | 341 | +23% | +14% |
Automotive & Industrial | 33 | 57 | +72% | +59% |
Smart devices | 63 | 73 | +17% | +10% |
Total revenue | 373 | 471 | +26% | +18% |
In the first quarter of FY’23, production at Bernin site was affected during a few days in April by a power outage, then by a strike action during another few days in June. As expected,
Overall, consolidated revenue reached
Confirmed FY’23 outlook
Key events of the quarter
STMicroelectronics and GlobalFoundries to advance FD-SOI ecosystem with new 300mm manufacturing facility in
On
Pierre Barnabé succeeds Paul Boudre as CEO
On
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Analysts conference call to be held in English on Thursday 27th October at
To listen this conference call, the audiocast is available live and in replay at the following address: https://channel.royalcast.com/soitec/#!/soitec/20221027_1
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Agenda
First-half FY’23 results are due to be published on
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Disclaimer
This document is provided by
The Company’s business operations and financial position are described in the Company’s 2021-2022 Universal Registration Document (which notably includes the 2021-2022 Annual Financial Report) which was filed on
Your attention is drawn to the risk factors described in Chapter 2.1 of the Company’s 2021-2022 Universal Registration Document.
This document contains summary information and should be read in conjunction with the 2021-2022 Universal Registration Document.
This document contains certain forward-looking statements. These forward-looking statements relate to the Company’s future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company’s future performance. The occurrence of any of the risks described in Chapter 2.1 of the Universal Registration Document may have an impact on these forward-looking statements. In addition, the future consequences of geopolitical conflicts, in particular the
The Company’s actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company’s financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company’s future results or developments.
The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document. In addition, the occurrence of any of the risks described in Chapter 2.1 of the Universal Registration Document may have an impact on these forward-looking statements.
This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company’s securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.
Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in
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About
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For more information, please visit www.soitec.com and follow us on Twitter: @Soitec_EN
Investor Relations: investors@soitec.com | Media contacts: +33 6 42 37 54 17 isabelle.laurent@oprgfinancial.fr +33 6 14 08 29 81 fabrice.baron@oprgfinancial.fr |
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Appendix
Consolidated revenue (Q1’23 and Q2’23 unaudited)
Revenue | Q1’22 | Q2’22 | Q3’22 | Q4’22 | Q1’23 | Q2’23 | H1’22 | H1’23 | |
(Euros thousands) | |||||||||
Mobile communications | 135,121 | 142,282 | 145,709 | 200,031 | 152,105 | 277,403 | 340,610 | ||
Automotive & Industrial | 15,917 | 17,212 | 18,815 | 22,461 | 23,160 | 33,785 | 33,129 | ||
Smart devices | 29,390 | 33,174 | 43,045 | 59,587 | 27,604 | 62,564 | 73,026 | ||
Total revenue | 180,427 | 192,668 | 207,569 | 282,079 | 202,869 | 267,712 | 373,095 | 470,581 |
Change in revenue | Q1’23/Q1’22 | Q2’23/Q2’22 | H1’23/H1’22 | ||||
(vs. previous year) | change reported | chg. at const. exch. rates and perimeter1 | change reported | chg. at const. exch. rates and perimeter1 | change reported | chg. at const. exch. rates and perimeter1 | |
Mobile communications | +12.6% | +6.2% | +32.5% | +22.1% | +22.8% | +14.3% | |
Automotive & Industrial | +45.5% | +36.7% | +96.3% | +79.7% | +71.9% | +59.1% | |
Smart devices | -6.1% | -10.9% | +36.9% | +27.9% | +16.7% | +9.7% | |
Total revenue | +12.4% | +6.1% | +38.9% | +28.3% | +26.1% | +17.5% |
1 At constant exchange rates and comparable scope of consolidation:
- There was no scope effect in Q1’22, Q2’22, Q3’22.
- In Q4’22, Q1’23 and Q2’23 the scope effect relating to the acquisition of NOVASiC, finalized on
December 29, 2021 , had no material impact onSoitec's revenue.
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1 The scope effect related to the acquisition of NOVASiC, the closing of which took place on
2
Attachment
- Soitec_Revenue PR Q2'23_
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