Soitec confirms its objectives despite a slowdown in its growth in the 1st quarter


PARIS (Agefi-Dow Jones)–Semiconductor materials maker Soitec confirmed its targets for its 2022-2023 fiscal year on Monday after posting a sharp slowdown in growth in the first quarter to the end of June.

The turnover of the Isère group amounted to 203 million euros for the past quarter, against 180 million euros a year earlier. At constant exchange rates, there was an increase of 6% against an increase of 53% in the previous quarter.

According to a consensus made by FactSet, analysts expected an average turnover of 231 million euros.

Growth was supported by strong demand in the group’s end markets, notably mobile communications and automotive-industry. Soitec however specified that it had been penalized by a power cut from April 5 to 9 at its Bernin site and by a social movement, also in Bernin, from June 10 to 16.

“We recorded the best first quarter in our history despite two production stoppages suffered at Bernin, which makes us confident in our ability to achieve the record objectives we have set ourselves for the year”, commented Paul Boudre, the general manager of the group, quoted in a press release.

For the current financial year as a whole, Soitec anticipates revenue growth of around 20% at constant scope and exchange rates and a gross operating profit (EBITDA) margin of around 36%.

The group’s general meeting must act on Tuesday the appointment of a new general manager, Pierre Barnabé, from Atos. He will replace Paul Boudre, who has run the company since 2015.

The shareholders will also have to validate the nomination of the Strategic Participation Fund (FSP) as a new administrator. The FSP announced in June that it had taken a stake of approximately 2.5% in the capital of Soitec.

-Francois Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: ECH

SOITEC FINANCIAL RELEASES:

https://www.soitec.com/en/investors

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Dow Jones Newswires

July 25, 2022 12:13 ET (16:13 GMT)



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