(AOF) – Soitec launched a profit warning on the occasion of the publication of its quarterly revenues. Annual revenue is expected to be down around 10% at constant scope and exchange rates compared to the 2022-2023 financial year, and the EBITDA margin around 34%. The French technology group previously targeted a decline of around mid-single digit (5%) and an EBITDA margin of around 35% of turnover. The ambition of a turnover of 2.1 billion dollars, initially expected for the 2025-2026 financial year, has been postponed by approximately one year.
The manufacturer of high-performance electronic substrates highlighted that “inventory absorption among the group’s direct customers continued to weigh on the Mobile Communications business” in the third quarter, ended at the end of December, of the 2023-2024 financial year.
Revenue for this period reached 240 million euros, down 12% at constant scope and exchange rates. It fell by 13% in published data.
“As indicated in our last publication, the absorption of RF-SOI stocks by our customers continues to weigh on our revenues” declared Pierre Barnabé, general manager of Soitec. “We anticipate continuing to face challenging market dynamics for our RF-SOI products for several more quarters.”
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