Soitec reports fourth quarter revenue and full-year results of fiscal year 2024
Q4’24 revenue reached €337m, down 2% at constant exchange rates and perimeter compared to the record quarter Q4’23
FY’24 revenue amounted to €978m, down 10% both at constant exchange rates and perimeter and on a reported basis, in line with latest guidance
FY’24 EBITDA margin at the level of 34%, also in line with latest guidance
FY’24 net profit, reached €178m, an 18% margin
FY’25 outlook confirmed: Soitec expects revenue to be stable year-on-year at constant exchange rates and perimeter and EBITDA margin to reach around 35%
Changes in the Board of Directors: Frédéric Lissalde to be proposed as Director at the next Annual General Meeting
Bernin (Grenoble), France, May 22nd, 2024 – Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announced its revenue for the fourth quarter of fiscal year 2024 and its full-year results of fiscal year 2024 (ended on March 31st, 2024). The financial statements were approved by the Board of Directors during its meeting today.
Pierre Barnabé, Soitec’s CEO, commented: “Fiscal year 2024 was a challenging year, marked by the impact on our sales of RF-SOI inventories correction across the entire smartphone value chain. Despite these difficult market conditions, we succeeded in maintaining a solid level of profitability, while continuing to invest both in innovation and industrial capacity to prepare for the future.
Regarding our fiscal year 2025, the RF-SOI inventory correction will continue to impact our revenue through the first part of the year. However, we are seeing early signs of improvement downstream, led by the ongoing return to growth of the smartphone market, which gives us confidence in the recovery of our RF-SOI sales in the second half of the year. At the same time, we will continue to benefit from strong performance of our other SOI products, and from the successful expansion of our product portfolio, with increased penetration of POI and the ramp-up of SmartSiCTM.
Looking ahead, we remain very confident in our ability to leverage the significant growth drivers underpinning our three end-markets. Coupled with the increasing adoption of engineered substrates to deliver more powerful and energy-efficient solutions to a growing number of customers, our continued diversification and expansion of our product portfolio, in both SOI and Compound substrates, supports our clear vision towards $2bn revenue in the medium term, with significant margin expansion potential,” added Pierre Barnabé.