SOITEC : SOITEC REPORTS FY'17 THIRD QUARTER REVENUES
(Thomson Reuters ONE) -
SOITEC REPORTS FY'17 THIRD QUARTER REVENUES
* Q3'17 revenues reached ?63.1m, up 5% at constant exchange rates compared
with Q3'16
* Continued growth in Communication & Power 200-mm wafer sales
* 300-mm wafer sales have picked up from low point reached in Q2'17
* FY'17 revenue growth should be in line with the growth achieved in the first
9 months (i.e. +4% at constant exchange rates)
Bernin (Grenoble), France, January 25th, 2017 - Soitec (Euronext Paris), a world
leader in designing and manufacturing innovative semiconductor materials, today
announced consolidated revenues of 63.1 million Euros for the third quarter of
FY'17 (ended December 30th 2016), up 7% compared with 58.9 million Euros in the
third quarter of FY'16[1]. This represents a 5% increase at constant exchange
rates. On a sequential basis, third quarter revenues were 7% higher at constant
exchange rates than in the second quarter of FY'17.
Paul Boudre, Soitec's CEO and Chairman of the Board, commented: "We achieved
solid sales growth in the third quarter. Sales continued to be supported by the
steady demand for RF and Power 200-mm wafers designed for applications in the
mobile and automotive markets. As expected, 300-mm wafer sales have picked up
from the low point reached in the second quarter, with the decline in PD-SOI
products being more than offset by the increase in FD-SOI and Emerging SOI
products. We expect further milestones for our FD-SOI technology to be reached
in the coming quarters. We are ideally positioned to support the future needs
for low power consumption, RF integration and high reliability arising from the
latest trends in new applications for automotive, communication and Internet of
Things".
Communication & Power
Demand for both radiofrequency (RF-SOI) and power electronics (Power-SOI)
products dedicated to the mobile and automotive markets continue to drive the
sales of 200-mm wafers whilst the sales of RF 300-mm wafers are still due to
step up in calendar year 2017.
Digital
In digital segment, revenues driven by the demand for PD-SOI 300-mm wafers
(partially depleted silicon-on-insulator for ASICs, servers and networking
applications) has reached a sustainable residual level.
Revenues from FD-SOI wafers (fully depleted silicon-on-insulator for digital
mobile and low power applications such as smartphones, automotive, consumer
electronics, Internet-of-Things) are beginning to be material even though they
still mostly reflect the ongoing qualification process at some foundries with
their fabless customers.
In the meantime, sales of SOI substrates for emerging applications, such as
Silicon Photonics, have further increased.
Third quarter FY'17 consolidated sales (unaudited)
Q3'16 Q3'17 Q3'17/Q2'17 Q3'17/Q3'16
(sequential (annual change)
change)
(Euros thousands) % % at cst FX % % at cst FX
200-mm 44,219 47,896 +7% +4% +8% +7%
300-mm 13,097 13,366 +25% +21% +2% 0%
Royalties and IP 1,593 1,806 +37% +33% +13% +12%
Total revenues 58,908 63,068 +11% +7% +7% +5%
200-mm wafer sales
Sales of 200-mm wafers in the third quarter of FY'17 went up 7% at constant
exchange rates compared with the third quarter of FY'16(1). This results from an
increase in the volume of RF-SOI and Power-SOI wafers sold, reflecting the
improvement plan implemented at the Bernin I 200-mm production site to deliver
more wafers through an increase of the process throughput, a higher efficiency
of the equipment and a higher yield.
On a sequential basis, sales of 200-mm wafers increased by 4% at constant
exchange rates compared to the second quarter of FY'17 essentially thanks to a
better product mix. The Bernin I 200-mm production site continued to operate
at full capacity in the third quarter of FY'17. In addition, Soitec benefited
from the sale of the very first few thousands 200-mm wafers produced by Simgui's
manufacturing facility in Shanghai using Soitec's proprietary Smart Cut(TM)
technology.
300-mm wafer sales
Sales of 300-mm wafers in the third quarter of FY'17 were flat at constant
exchange rates compared with the third quarter of FY'16. This is the result of
combination of:
* a sharp but anticipated decline of the PD-SOI product line;
* a higher level of sales of FD-SOI products;
* an increase in other 300-mm products (RF 300-mm wafers as well as new
Emerging SOI products for digital applications).
On a sequential basis, sales of the third quarter of FY'17 were however 21%
higher at constant exchange rates compared to the second quarter of FY'17,
confirming the indication previously given that the 300-mm wafer sales would
start picking up at the Bernin II 300-mm production site after the low point
reached in the second quarter of FY'17.
Royalties and intellectual property
Revenues from royalties and intellectual property reached 1.8 million Euros in
the third quarter of FY'17, compared with 1.6 million Euros in the third quarter
of the previous fiscal year, that is to say a 12% increase at constant exchange
rates.
First 9 months of FY'17 consolidated sales (unaudited)
9m'16 9m'17 9m'17/9m'16
(Euros thousands) % % at cst FX
,
200-mm 128,047 135,280 +6% +6%
300-mm 35,602 35,397 -1% -1%
Royalties and IP 4,113 4,525 +10% +10%
Total revenues 167,762 175,202 +4% +4%
For the first nine months of FY'17 as a whole, revenues reached 175.2 million
Euros. Compared with the first nine months of FY'16(1), they were up 4%, both on
a reported basis and at constant exchange rates.
Outlook
For Q4'17, growth in demand for products used in radio-frequency (RF)
applications and power electronics applications (Power) should remain robust
allowing Bernin I 200mm wafer production site to continue running at full
capacity whilst production at Simgui is expected to continue ramping up,
bringing additional capacity for Soitec to meet customers' demand.
In 300mm, demand is expected to continue picking up with the increase in FD-SOI,
Emerging SOI and RF 300-mm products due to offset the effects arising from the
end of the lifecycle of PD-SOI product line.
Overall, Soitec now expects its FY'17 revenue growth at constant exchange rates
to be in line with the growth achieved in the first nine months of FY'17 (i.e.
up 4%). As regards earnings performance, Soitec confirms targeting an EBITDA
margin[2] in Electronics for H2'17 of the same order of magnitude as in H1'17
(i.e. 16.5% EBITDA margin).
Agenda
Q4'17 revenues are due to be published on April 19(th), 2017 and FY'17 results
are due to be published on June 14(th), 2017.
About Soitec
Soitec (Euronext, Tech 40 Paris) is a world leader in designing and
manufacturing innovative semiconductor materials. The company uses its unique
technologies and semiconductor expertise to serve the electronics markets. With
more than 3,000 patents worldwide, Soitec's strategy is based on disruptive
innovation to answer its customers' needs for high performance, energy
efficiency and cost competitiveness. Soitec has manufacturing facilities, R&D
centers and offices in Europe, the U.S. and Asia.
For more information, please visit www.soitec.com and follow us on Twitter:
(at)Soitec_EN
Investor Relations: Media Contact:
Steve Babureck Camille Dufour
+33 (0)6 16 38 56 27 +33 (0)6 79 49 51 43
+1 858 519 6230 camille.dufour(at)soitec.com
steve.babureck(at)soitec.com
Isabelle Laurent
+33 (0)1 53 32 62 51
isabelle.laurent(at)ddbfinancial.fr
Fabrice Baron
+33 (0)1 53 32 61 27
fabrice.baron(at)ddbfinancial.fr
# # #
Appendix
Quarterly Q1 Q2 Q3 9 months
sales
(Euros '16 '17 '16 '17 '16 '17 '16 '17
thousands)
200-mm 40,798 42,677 43,030 44,706 44,219 47,896 128,047 135,280
300-mm 11,790 11,355 10,715 10,676 13,097 13,366 35,602 35,397
Royalties 1,467 1,405 1,053 1,314 1,593 1,806 4,113 4,525
and IP
Total 54,055 55,437 54,799 56,697 58,908 63,068 167,762 175,202
revenues
Quarterly Q1 Q2 Q3 9 months
sales
(vs change change change change change change change change
previous reported at cst reported at cst reported at cst reported at cst
year) FX FX FX FX
200-mm +4.6% +6.5% +3.9% +4.3% +8.3% +6.6% +5.6% +5.6%
300-mm -3.7% -1.9% -0.4% -0.0% +2.1% +0.4% -0.6% -0.6%
Royalties -4.2% -2.5% +24.8% +25.2% +13.4% +11.6% +10.0% +10.0%
and IP
Total +2.6% +4.4% +3.5% +3.8% +7.1% +5.4% +4.4% +4.4%
revenues
--------------------------------------------------------------------------------
[1] Following the withdrawal from the Lighting and Equipment businesses at the
end of FY'16 and the decision to report their related income and expenses as
discontinued operations in FY'16 accounts, Q3'16 and 9m'16 consolidated revenues
have been restated to only reflect sales from the Electronics segment and ensure
comparability with Q3'17 and 9m'17.
[2] EBITDA/revenues
Soitec press release PDF:
https://hugin.info/143589/R/2073431/779354.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SOITEC via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.01.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 519939
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