Q1 2010-2011 Consolidated Sales of 68.6 million Euros
• Sequential sales growth of 9.6% and 56.5% year on year
• Operating income breakeven point to be achieved during the first half
Bernin, France, 19th July 2010 – Soitec (Euronext Paris), the world’s leading supplier of silicon-on-insulator (SOI) and other engineered substrates for the microelectronics industry today announced total first quarter sales of 68.6 million Euros. As anticipated by the Group, total wafer sales benefited from robust demand and favourable exchange. On a sequential basis, consolidated sales increased by 9.6% or 56.5% year on year with the Dollar/Euro exchange rate improving by 8.1% sequentially and 7.3% year on year.
| Sales (Euros millions) | 2010-2011 | 2009-2010 | Change |
| First Quarter | 68.6 | 43.9 | 56.5% |
Robust demand confirmed
Total wafer sales were 63.5 million Euros for the quarter, equal to sequential growth, at constant exchange, of 1.7% and 10.0% in Euros. By diameter 300mm wafers, which represent 82% of all wafer sales provided sequential growth at 4.9% (13.5% in Euros). Other wafer sizes were reduced sequentially by 10.9% (3.6% in Euros) mainly due to change in the product mix.
Picogiga sales were down by 15.0% sequentially but up by 72.2% year on year at 2.3 million Euros, Tracit sales grew by 55.2% sequentially and 143.7% year on year to 2.0 million Euros, whilst royalties were 0.7 million Euros for the quarter. Concentrix sales were 0.1 million Euros.
Outlook
The most recent indications for the second quarter point to a robust level of wafer sales. On a sequential basis, total wafer sales are expected to be almost stable at constant exchange and continue to support the initial guidance as demand remains well oriented. Q2 sales in total will benefit from Concentrix shipments related to the Chevron contract. Based on Q1 exchange rate (i.e. 1.27) the anticipated sequential total sales growth in H1 is expected to exceed 20%. This favourable growth would lead to crossing over the operating income breakeven point, including Concentrix CPV activity, during the first half of the year. The Company confirms that its sales expectation for the financial year 2010-2011, on a like for like basis, is in line with current market outlook in the high performance segments.
Agenda
Q2 sales for 2010-2011 will be published on 18th October 2010 after the close of the Paris Stock Exchange.
About Soitec:
The Soitec Group is the world’s leading innovator and provider of the engineered substrate solutions that serve as the foundation for today’s most advanced microelectronic products. The group leverages its proprietary Smart Cut™ technology to engineer new substrate solutions, such as silicon-on-insulator (SOI) wafers, which became the first high-volume application for this proprietary technology. Since then, SOI has emerged as the material platform of the future, enabling the production of higher performing, faster chips that consume less power.
Today, Soitec produces more than 80 percent of the world’s SOI wafers. Headquartered in Bernin, France, with two high volume fabs on-site, Soitec has offices throughout the United States, Japan and Taiwan, and a new production site in the process of customers’ qualification in Singapore.
Three other divisions, Picogiga International, Tracit Technologies and Concentrix Solar, complete the Soitec Group. Picogiga delivers advanced substrates solutions, including III-V epiwafers and gallium nitride (GaN) wafers, to the compound material world for the manufacture of high-frequency electronics and other optoelectronic devices. Tracit, on the other hand, provides thin-film layer transfer technologies used to manufacture advanced substrates for power ICs and Microsystems, as well as generic circuit transfer technology , Smart Stacking for applications such as image sensors and 3D-integration. In December 2009, Soitec acquired 80% of Concentrix Solar, the leading provider of concentrated photovoltaic (CPV) solar systems for the industrial production of energy. With this acquisition, Soitec is entering the fast-growing solar industry; capturing value through the system level.
Shares of the Soitec Group are listed on Euronext Paris.
For more information, visit www.soitec.com.
Soitec, Smart Cut, Smart Stacking and UNIBOND are trademarks of S.O.I.TEC Silicon On Insulator Technologies.
For all information, please contact:
Investor Relations Contact
Olivier Brice
+33 (0)4 76 92 93 80
olivier.brice@soitec.fr
International Media Contact
Camille Darnaud-Dufour
+33 (0)6 79 49 51 43
camille.darnaud-dufour@soitec.fr
French Media Contact
Muriel Martin, H&B
+33 (0)1 58 18 32 44
m.martin@hbcommunication.fr