Soitec: H1 net attributable income slumps 83%
(CercleFinance.com) - Soitec reports sales of E217m for Q2, down 11% y-o-y (-9% LFL).
In detail, sales declines in the Mobile Communications division (-27%, to E124m) and the Automotive & Industry division (-13%, to E33m), were only partially offset by the strong performance of the Edge & Cloud AI division (+62%, to E61m).
Soitec recorded H1 sales of E338m, down 16% (-15% LFL).
Also over this six-month period, Soitec recorded operating income before non-recurring items of E28m (-67%) and net income, group share of E14m, down 83%, giving basic EPS of E0.39 (vs. E2.24 a year earlier).
As announced, after reaching a low point in Q1, the rebound in sales in Q2 enabled H1 to be in line with expectations, said Soitec CEO Pierre Barnabé.
In this context, targets for FY 2025 are confirmed: sales are expected to be stable LFL compared with 2023-2024, and the EBITDA margin around 35%.
However, capex for FY 2025 has been trimmed to E230m, vs. the E250m initially forecast.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
In detail, sales declines in the Mobile Communications division (-27%, to E124m) and the Automotive & Industry division (-13%, to E33m), were only partially offset by the strong performance of the Edge & Cloud AI division (+62%, to E61m).
Soitec recorded H1 sales of E338m, down 16% (-15% LFL).
Also over this six-month period, Soitec recorded operating income before non-recurring items of E28m (-67%) and net income, group share of E14m, down 83%, giving basic EPS of E0.39 (vs. E2.24 a year earlier).
As announced, after reaching a low point in Q1, the rebound in sales in Q2 enabled H1 to be in line with expectations, said Soitec CEO Pierre Barnabé.
In this context, targets for FY 2025 are confirmed: sales are expected to be stable LFL compared with 2023-2024, and the EBITDA margin around 35%.
However, capex for FY 2025 has been trimmed to E230m, vs. the E250m initially forecast.
Copyright (c) 2024 CercleFinance.com. All rights reserved.