(BFM Bourse) – The Grenoble-based designer of innovative semiconductor materials reported record turnover of 208 million euros in the 3rd quarter of its staggered financial year ended at the end of December, which corresponds to an increase of 40 % over one year. EBITDA revenue and margin targets are reaffirmed.
On the rebound this Wednesday (+4.11%) after having been particularly heckled since last Thursday and the revelation of an open crisis at its peak against a backdrop of the unilateral appointment of a new CEO, Soitec unveils a robust point of activity quarterly this Wednesday after the close.
The semiconductor materials champion from Isère announces record consolidated revenue of 207.6 million euros for the 3rd quarter (ended at the end of September) of the 2021-2022 financial year, up 39.6% over a year. Over the first nine months, the group’s revenues thus reached 581 million euros, corresponding to organic growth of 48%. This is also, specifies Soitec, the 6th consecutive sequential increase in its quarterly reports, since the 1st quarter of 2020-2021.
Confirmed goals
“With another record quarter, we are perfectly on track to achieve both our revenue growth and EBITDA margin growth objectives for the full year,” rejoices Paul Boudre, quoted in the press release – he should hand over his post to Pierre Barnabé next July. “Our performance continues to be supported by the deployment of 5G in mobile communications as well as the continued recovery of the automotive industry, while we benefit from an acceleration in smart devices” notes the leader.
Soitec therefore confirms its revenue target for the full fiscal year 2021-2022 at a level of around 975 million dollars (!), which represents a growth of around 45% at constant exchange rates. The electronics EBITDA margin target (equal to the ratio of EBITDA from continuing operations to sales) is maintained at “around 34%, with potential to reach around 35%”.
The executive committee met the future general manager
The group also takes stock of the succession plan for its CEO Paul Boudre, indicating that its board of directors – including CEO Paul Boudre – “met for constructive discussions on governance issues”. “Soitec’s Executive Committee expressed to the Board of Directors its commitment to work closely with Paul Boudre’s designated successor, Pierre Barnabé, to ensure an effective leadership transition. To this end, Pierre Barnabé met with the executive committee of Soitec on Monday January 24, 2022” can we read in this quarterly activity update, which seems to end the conflict between the two governance bodies of the group (board of directors and executive committee).
Quentin Soubranne – ©2022 BFM Bourse
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