(AOF) – For the 2023/2024 financial year, Soitec recorded a net profit down 33% to 178 million euros. Ebitda fell by 15% to 332 million euros, showing a margin of 34% compared to 36% the previous year. The specialist in innovative semiconductor materials was penalized by a 10% drop in turnover to 978 million euros. The group recorded a negative free cash flow of 43 million euros during the 2023-2024 financial year compared to a positive free cash flow of 34 million euros in 2022-2023.
This deterioration is explained by a lower Ebitda, a higher working capital requirement as well as the maintenance of a high level of capital expenditure to support future growth.
The objectives for the 2024-2025 financial year have been confirmed. Soitec anticipates stable turnover at constant scope and exchange rates and an EBITDA margin of around 35%.
“(…), The correction of RF-SOI stocks will continue to have an impact on our turnover during the first part of the financial year. However, we see signs of improvement downstream in the value chain, supported by the return to growth of the smartphone market, which makes us confident in the recovery of our RF-SOI sales during the second half of the year,” commented Pierre Barnabé, Managing Director of Soitec.
“The growing adoption of our innovative substrates, sources of high-performance and energy-saving solutions, and the continued diversification and extension of our product range, in SOI materials and in compound substrates, are all of elements which support our clear vision of reaching a turnover of 2 billion dollars in the medium term, with significant margin increase potential”,
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