France · Delayed Price · Currency is EUR Soitec Earnings Call Transcripts
Fiscal Year 2026
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Fiscal 2026 saw a 30% revenue drop and margin compression due to inventory corrections, but positive free cash flow and strong liquidity were restored. AI-driven growth in Photonics-SOI and disciplined capital allocation are key priorities for 2027, with margin recovery expected as fab utilization improves.
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Q3 revenue declined 22% year-over-year but rose 18% sequentially, with strong AI-driven growth offset by ongoing mobile and automotive weakness. Inventory correction in RF-SOI continues, while photonics and FD-SOI segments show robust momentum. CapEx is set to decrease in FY2027.
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H1 2026 revenue declined 29% YoY to EUR 231 million, with a 34.1% EBITDA margin and a EUR 67 million net loss from non-recurring items. Inventory correction, cost discipline, and selective investments were prioritized. Strong AI growth offset Mobile and Automotive weakness. Positive Free Cash Flow is targeted, aided by reduced CapEx and robust liquidity.
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Q1 FY2026 revenue fell 16% year-over-year to €92 million, mainly due to RF-SOI inventory correction and automotive weakness, but AI and cloud segments showed strong growth. Sequential revenue is expected to rebound 50% in Q2, though year-over-year declines will persist. CapEx is set at €150 million for the year.
Fiscal Year 2025
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Revenue declined 9% year-over-year due to inventory corrections and weak automotive demand, but EBITDA margin remained strong at 33.5%. Diversification accelerated, with multiple products now exceeding $100 million in annual revenue, and CapEx will be reduced in FY2026 to preserve flexibility and margin resilience.
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Q3 2025 revenue declined 6% year-on-year to €226 million, with Mobile Communications returning to growth and strong Photonics-SOI momentum offset by weakness in Automotive & Industrial and Edge & Cloud AI. FY25 revenue outlook was revised downward, and FY26 growth is expected to be limited amid ongoing market uncertainties.
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Revenue declined 15% year-on-year in H1 2025, but profitability remained strong with a 33% EBITDA margin and positive free cash flow. Guidance for FY 2025 is confirmed, with a strong H2 rebound expected, especially in Mobile and Edge/Cloud AI, while Automotive remains soft.
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Q1 2025 revenue declined 23% year-over-year to €121 million, with Mobile and Automotive segments down but Edge and Cloud AI up 47%. Guidance for FY25 is reaffirmed, expecting a strong H2 recovery and stable full-year revenue at constant exchange rates.