(AOF) – Soitec has appointed Caroline Sasia as senior vice president, head of Communications & Chief of Staff to the CEO. As such, Caroline Sasia will be a member of the Soitec executive committee. The appointment of Caroline Sasia is part of the strengthening of Soitec’s organization initiated at the beginning of the year. Structured around three divisions, this new organization aims to support Soitec’s growth ambitions, in accordance with the expectations of its various stakeholders.
With more than 20 years of professional experience, Caroline Sasia has expertise in developing and implementing communication strategies in extremely complex and dynamic international environments.
Technology, innovation, mobility and sustainable development are his areas of expertise.
Before joining Soitec, Caroline spent a large part of her career within the Renault group and the Renault-Nissan-Mitsubishi Alliance where she held various positions in the fields of communication, strategy and public affairs. Caroline Sasia is a graduate of Sciences Po Paris.
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Key points
– World leader with 2/3 of the market for the production of semiconductors using SOI (silicon wafer) technology, recognized by all the major energy and electronics players and granting a virtual monopoly;
– Turnover of $1 billion split between sales of 200mm wafers for 33%, 300mm wafers for 62% and licenses;
– Business model based on 2 areas of expertise – Epitaxy and compound materials – serving 4 mass markets: smartphones, automotive, cloud and mobile telecommunications infrastructure and the Internet of Things;
– Three reference shareholders in the capital -BPI (10.35%), the Chinese NSIG Sunrise (10.35%) and CEA Investissement (7.32%)-, Eric Meurice chairing the 12-member board of directors and Paul Boudre Managing Director;
– Solid balance sheet with €577 million in equity, €293 million in cash against net debt of €5.2 million, and reinforced by a sharp increase in free cash flow.
Challenges
– 2026 strategy targeting $2.3 billion in revenue and an operating margin of 40%;
– Innovation strategy with 2 unique technologies -Smart cut and Smart stacking- and 2 areas of expertise -epitaxy and composite materials- serving 4 mass markets: smartphones, automotive, cloud and mobile telecommunications infrastructure and IoT;
– R&D at 12% of turnover (39th patent filer in France and 2nd among ETIs with 3,500 patents), co-development partnerships with CEA, Leti or customers and suppliers;
– Environmental strategy aiming for a 25.2% reduction in carbon emissions by 2026 vs. 2020, through the energy performance of industrial sites, the use of a-carbon energy and low-carbon freight, soft mobility for employees and the commitment of suppliers to the low-carbon approach;
– Balanced distribution of production sites (Bernin, Pasir Ris, Shanghai and Hasselt) limiting logistical risks;
– Ability to take advantage of the boom in the SOI market, through internal growth and partnerships (Qualcomm and GlobalFoundries) and strong positions in innovative SmartSiCTM substrates essential for the deployment of cellular 4 and 5G;
– Ramp-up of Dolphin Design, a 80%-owned subsidiary;
– Increased visibility through upstream association with the projects of semiconductor producers.
Challenges
– “Early cyclical” profile because upstream of the production chain;
– Union’s response to the request by digital manufacturers for public investment aid, to reduce dependence on China;
– Waiting for launches in piezoelectric diversification, gallium nitride and silicon carbide and fallout from the MobiSIC project with Valeo and CEA-Leti;
– 2022-23 objective: 20% increase in revenues and margin at least equal to 35.5%.
Growing market and price pressures
According to the SIA, global chip sales were $151.7 billion in the first quarter of 2022, up 23% year-on-year. Sales increased in all major regional markets and for all product categories. As global uncertainties, including the war in Ukraine and the health crisis, weigh on supply chains, demand for semiconductors continues to significantly outpace supply. Manufacturers Samsung and TSMC have announced that they will raise their prices, in a context where players in the sector have good leeway and benefit from increased bargaining power. However, wage increases and component prices could weigh on future performance.