(Boursier.com) — Soitec reported revenue of €203 million for the 1st quarter of fiscal year 2022-2023 (ended June 30, 2022), up 12% from revenue of €180 million completed in the 1st quarter of 2021-2022. This increase is the result of growth of 6% at constant scope and exchange rates combined with a positive exchange rate effect of 6%.
This performance is the result of sustained growth in Mobile Communications (+13%) and strong growth in Automotive & Industry revenue (+46%). Production at the Bernin site was affected from April 5 to 9 by a power cut following a fire in power lines which broke out outside the site, then, from June 10 to 16, by a social. Soitec should however be able to gradually make up for the loss of production (approximately 10 days) and does not expect these events to have an impact on its 2022-2023 objectives.
“We recorded the best first quarter in our history despite two production stoppages at Bernin, which gives us confidence in our ability to achieve the record objectives we have set for the year. Our performance was driven by a sustained growth in radio frequency applications, itself driven by the momentum of 5G adoption, by a strong increase in the field of automotive applications linked to the profound transformation at work in the automotive industry, as well as by strong growth in FD-SOI sales to each of our three end markets”, explains Paul Boudre, CEO of Soitec.
Soitec continues to anticipate revenue growth of around 20% at constant scope and exchange rates for the 2022-2023 financial year, and an EBITDA margin of around 36%.
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