(AOF) – Soitec has reduced its annual objectives. The turnover for the 2023-2024 financial year of the French manufacturer of high-performance electronic substrates is now expected to decline slightly by a percentage of approximately “mid-single digit” (5%) at scope and exchange rate. constant compared to the 2022-2023 financial year. The Ebitda margin is now expected at around 35% of turnover. Soitec previously anticipated stable like-for-like sales and an Ebitda margin maintained at around 36%.
“The severe correction in the level of stocks of products dedicated to radio frequency applications for smartphones took place in the first half of 2023-2024 as anticipated. However, faced with a weaker smartphone market than expected, the clearance of stocks with our customers takes longer than initially anticipated,” explained the French technology group.
In the first half, the group recorded net income, group share, down 16% to 80 million euros and EBITDA from continuing activities down 21% to 132 million euros. Soitec thus displays an Ebitda margin of 33% compared to 35.5% a year previously. “This decline essentially reflects the choice made by Soitec to continue to invest significantly in its R&D activities,” explained the company.
The latter, however, recorded a consolidated turnover of 401 million euros, down 15% both on a published basis and at constant scope and exchange rates. Turnover for the second quarter of 2023-2024 reached 245 million euros, down 9%. It shows a decline of 7% at constant scope and exchange rates.
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