PARIS (Agefi-Dow Jones)–The producer of components for the electronics industry Soitec on Wednesday raised its profitability forecasts for the financial year which ended at the end of March, after achieving record sales in the past quarter.
Ebitda margin is now estimated at 35.5% in 2021-22, down from a previous forecast of 34%, Soitec said in a statement. For the current financial year, turnover is also expected to grow organically by around 20% and the margin should be stable or up, according to forecasts provided on Wednesday.
Between January and March, the group saw its turnover jump by 56%, to 282 million euros. “Soitec again recorded strong growth in mobile communications, its first end market, which continues to be driven by the deployment of 5G,” the statement said. Growth was also supported by the recovery in the automotive market and strong demand for smart devices, Soitec added.
“Thanks to another record quarter, we ended our fiscal year with annual organic growth of 50%, an even higher level than we had initially anticipated, which allows us to cross the billion dollar mark in revenue. business for the first time,” said CEO Paul Boudre.
Over the whole of the staggered financial year ended at the end of March, the Isère manufacturer of materials for semiconductors saw its turnover increase by 48%, to 863 million euros. He said he expected revenue of $975 million (837 million euros), against a FactSet consensus of analysts of 831 million euros.
-Thomas Varela, Agefi-Dow Jones; +33 (0)1 41 27 47 99; [email protected] ed: ECH
SOITEC FINANCIAL RELEASES:
https://www.soitec.com/en/investors
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April 27, 2022 12:21 ET (16:21 GMT)