France · Delayed Price · Currency is EUR X-FAB Silicon Foundries SE Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 7% year-over-year to $873 million in 2025, with strong industrial and medical segments offsetting softness in automotive. Operational improvements, capacity expansion, and new design wins position the company for long-term growth, despite near-term uncertainty.
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Q3 2025 revenue and EBITDA exceeded guidance, driven by strong growth in medical, industrial, and silicon carbide segments, though order intake and backlog declined due to automotive inventory corrections and macro uncertainties. CapEx is decreasing, and a CEO transition is planned for early 2026.
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Focused on three technology pillars, the group completed a $1B capacity expansion, enabling 50% more wafer output and value. BCD-on-SOI, SiC, and GaN drive growth, with sensing and microsystems as key revenue contributors. Financial targets include $1.2B revenue capacity and EBITDA margin above 30%.
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Q2 2025 revenue grew 5% year-over-year to $215 million, exceeding guidance, with strong gains in industrial and medical segments and robust silicon carbide demand for data centers. Full-year revenue guidance was raised to $840–$870 million, with EBITDA margin expected at 24%–27%.
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Q1 revenue rose 8% sequentially to $204M, with strong growth in automotive and industrial segments. EBITDA margin reached 24%, and full-year guidance is maintained. Capex and expansion plans are on track, with new technology and market recovery expected to drive future growth.
Fiscal Year 2024
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Q4 2024 revenue and EBITDA met guidance, driven by strong 180 nm CMOS demand and capacity expansion, while automotive destocking weighed on 350 nm. CapEx is set to normalize in 2025, with positive cash flow and single-digit growth expected, and further acceleration in 2026.
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Strong long-term growth is expected across automotive, industrial, and medical segments, with double-digit CAGRs and robust demand for 180 nm/110 nm CMOS and silicon carbide technologies. Major capacity expansions are on track, with financial targets of $1.5B revenue and 35% EBITDA margin by 2030, and positive cash flow anticipated from H2 2025.
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Q3 revenue was $206M, down 12% year-on-year but up 1% sequentially, with strong growth in China automotive offset by declines in industrial and medical. EBITDA margin reached 24.4%. CapEx remains high for capacity expansion, with full-year revenue guidance revised down.
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Q2 revenue declined 9% year-on-year to EUR 205 million, with strong automotive and microsystems growth offset by weakness in silicon carbide and industrial segments. Full-year revenue guidance was lowered due to delayed SiC recovery, but Q4 is expected to see a rebound in both revenue and margin.