PARIS (Agefi-Dow Jones)–Electronics component maker Soitec said on Wednesday it expects further revenue and margin growth for the fiscal year ending March 2023. , after having almost tripled its net profit during the past financial year.
The net profit of the Isère group stood at 202 million euros in 2021-2022, against 73 million euros a year earlier. Analysts on average had expected a net profit of 169 million euros.
Gross operating surplus (Ebitda) reached 309 million euros, up 72% year-on-year. It shows a margin of 35.8%, compared to 30.7% in 2020-2021. Soitec had raised its margin target from 34% to 35.5% at the end of April.
The turnover, already published, increased by 48%, to 863 million euros.
Despite the increase in capital expenditure intended to support its strong growth, Soitec’s free cash flow came out positive, at 42 million euros.
For the current financial year, Soitec has confirmed that it anticipates revenue growth of around 20% at constant scope and exchange rates, driven by the deployment of 5G and the increase in sales to the Internet. ‘automobile industry.
The group expects an Ebitda margin of 36% “despite higher raw material prices and higher energy costs”.
The group also indicated that it would continue to invest in new production capacities, particularly in France, in Bernin, but also in Singapore where it announced the extension of its Pasir Ris plant on Wednesday. The construction site for this extension should start in 2022-2023 for commissioning during the 2024-2025 financial year. It should make it possible to increase the capacity of the factory by 1 million silicon-on-insulator wafers of 300 mm per year.
-Francois Schott, Agefi-Dow Jones; +33 (0)1 41 27 47 92; [email protected] ed: LBO
SOITEC FINANCIAL RELEASES:
https://www.soitec.com/en/investors
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June 08, 2022 12:31 ET (16:31 GMT)