SOITEC : 2015-2016 Q2 SALES
(Thomson Reuters ONE) -
Soitec reports Electronics sales in line with management guidance and 23% growth
in its Q2'16 consolidated revenues versus last year
· Electronics sales marginally higher at constant exchange rates on a
sequential basis
· H1'16 consolidated revenues of 110.8 million Euros, up 56% versus
H1'15
Bernin, France, October 19, 2015 - Soitec (Euronext Paris), a world leader in
generating and manufacturing revolutionary semiconductor materials, today
announced total consolidated revenues of 55.4 million Euros for the second
quarter of FY'16. This represented a rise of 23% (growth of 3% at constant
exchange rates), versus 45.2 million Euros in the previous financial year,
restated to exclude the Solar activities. In line with management's decision to
halt the Solar activities, consolidated revenues no longer reflect Solar sales,
which are accounted for under discontinued operations.
In the first half of FY'16, revenues grew by 56% to 110.8 million Euros (growth
of 30% at constant exchange rates), from 70.8 million Euros in H1'15, restated
to exclude the Solar activities.
Unaudited quarterly sales figures for Q2'16 and H1'16 ending September 30, 2015
EUR 000s Q2'15 Q2'16 Q/Q Y/Y H1'15 H1'16 H/H Y/Y
150-200mm 30,657 43,030 5% 40% 48,985 83,828 14% 71%
300mm 12,498 10,715 -9% -14% 18,080 22,505 -15% 24%
Royalties 793 1,053 -28% 33% 1,770 2,520 14% 42%
Wafer sales 43,948 54,799 1% 25% 68,835 108,853 6% 58%
Lighting 1,140 324 -53% -72% 1,281 1,016 32% -21%
Equipment 75 236 -66% 213% 699 937 -83% 34%
Other (Lighting/Equipment) 1,216 560 -60% -54% 1,981 1,953 -69% -1%
---------------------------------------------------- -------------------------
Total revenues 45,164 55,359 0% 23% 70,815 110,807 2% 56%
---------------------------------------------------- -------------------------
Solar (discontinued) 11,343 5,400 20% -52% 35,194 9,895 24% -72%
Q2'16 Electronics sales in line with management guidance
* Q2'16 wafer sales totaled 54.8 million Euros. Quarterly sales were
underpinned by growing demand for 200mm diameter wafers with applications in
the mobile (RF devices) and automotive (power) markets. This increase was
more than offset by declining activity in the 300mm partially depleted
silicon-on-insulator (PD-SOI) wafer segment.
* The 200mm facility in Bernin (France) is running at almost full tilt, with a
healthy backlog of orders for 200mm wafers through to the end of the 2016
calendar year. Under the manufacturing agreement with Simgui in China,
Soitec's production capacity will increase in 2016, allowing it to take full
advantage of growing demand for 200mm wafers for the radiofrequency (RF) and
power electronics markets.
* Sales of 300mm wafers recorded a sequential decline in Q2'16 as certain
PD-SOI products for PC and gaming applications were discontinued. Soitec
continues to work on qualification of its 300mm fully depleted silicon-
on-insulator (FD-SOI) wafers at strategic foundry customers to capture
future substantial market growth for consumer electronics, automotive
and industrial applications. What's more, the market for 300mm wafers
for RF devices also has bright prospects.
* Royalties generated 1.1 million Euros in revenues in Q2'16 and 2.5 million
Euros in H1'16.
Other activities (Lighting and Equipment) generated 0.6 million Euros and 1.9
million Euros in sales in Q2'16 and H1'16 respectively
Lighting sales came to 1.0 million Euros in H1'16 (versus 1.3 million Euros in
H1'15). Equipment sales totaled 0.9 million Euros in H1'16 (versus 0.7 million
Euros in H1'15).
Solar activities reported as discontinued operations
Soitec has decided to report its Solar activities separately under discontinued
operations for FY'16 because the Group is withdrawing from this segment to
refocus on Electronics. For Q2'16 and H1'16, Soitec has reported revenues of
5.4 million Euros and 9.9 million Euros respectively (down 52% and 72%
respectively year-on-year).
With the end of negotiations with ConcenSolar regarding the sale of certain
Solar assets (as previously announced in our press release on August 4, 2015),
Soitec has ceased all manufacturing and R&D activities in San Diego (USA) and
Freiburg (Germany) and continues to sell off the residual assets of its Solar
activities.
Stable cash position of 71 million Euros at September 30, 2015
Soitec's cash position at September 30 stood at 71 million Euros (versus 63
million Euros at June 30, 2015) owing to the firm performance of the Electronics
business and proceeds from disposals of certain Solar assets (San Diego building
and small solar farms).
Electronics sales guidance for Q3'16
For Q3'16, Electronics sales are expected to grow by 5% versus Q2'16 (at
constant exchange rates).
Paul Boudre, Soitec's CEO and Chairman of the Board, commented: "While we have
been actively managing the process of withdrawing from the Solar activities, we
enjoyed a solid performance in our Electronics business. Driven by the mobile
and automotive markets, the momentum in 200mm diameter wafer sales remains
particularly strong. This is more than offsetting the decline in 300mm diameter
wafers for PC and gaming applications. During the second quarter we've seen the
fully-depleted silicon-on-insular ecosystem boosted by further industry progress
such as GlobalFoundries' new FD-SOI technology platform. In the meantime, the
first 200-mm SOI wafers produced by Simgui in China represent a major milestone.
This has enhanced our confidence in our ability to meet the fast-growing demand
in radiofrequency and power markets."
Agenda
Financial results for H1'16 will be published in mid-November.
About Soitec
Soitec (Euronext, Paris) is a world leader in designing and manufacturing high
performance semiconductor materials. The company uses its unique technologies to
serve the electronics and energy markets. With 3,600 patents worldwide, Soitec's
strategy is based on disruptive innovation to respond to its customers' needs
for high performance, energy efficiency and cost competitiveness. Soitec has
manufacturing facilities, R&D centers and offices in Europe, US and Asia. For
more information, please visit www.soitec.com.
For all information, please contact:
Investor relations Media
Steve Babureck Marylen Schmidt
+1 858 519 6230 or +33 6 16 38 56 27 +33 (0)6 21 13 66 72
steve.babureck(at)soitec.com marylen.schmidt(at)soitec.com
Soitec press release in PDF:
http://hugin.info/143589/R/1959879/714344.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: SOITEC via GlobeNewswire
[HUG#1959879]
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Datum: 19.10.2015 - 17:53 Uhr
Sprache: Deutsch
News-ID 427870
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