Soitec Posts Annual Sales Above Market Estimates Despite Weak Chip Market
Soitec's Financial Performance and Market Outlook
Annual Sales Surpass Expectations
May 27 (Reuters) - French semiconductor materials supplier Soitec on Wednesday reported annual sales above market expectations despite continued customer inventory correction, demonstrating resilience in a weak chip market.
Revenue Figures and Analyst Estimates
Revenue fell to 592 million euros ($688.5 million) in the year from 891 million euros a year earlier, but topped analysts' average estimate of 584 million euros in a company-provided poll.
CEO's Statement on Q4 Performance
• "Our Q4 showed sequential improvement over Q3 above guidance, with continued momentum in AI-driven activities in particular photonics-SOI (silicon-on-insulator), a key pillar of the group’s expansion into high-growth markets," CEO Laurent Remont said in a statement.
Quarterly Revenue and Future Projections
• Soitec's revenue fell 38% to 202 million euros in the fourth-quarter, but exceeded analysts' forecast of 193 million euros for the period.
• Company expects first-quarter revenue to grow around 15% year-on-year at constant currency and scope basis in 2027, compared with 92 million euros a year earlier.
Additional Information
($1 = 0.8598 euros)
(Reporting by Ozan Ergenay in Gdansk, editing by Matt Scuffham)
