• Q3 year on year growth of 23.9% for consolidated sales
• Solar division records first significant sales - 6.8
million Euros
• Full year consolidated sales anticipated to be above 325
million Euros
• Significant operating loss anticipated for the full year
Bernin, France, January 16, 2012 - Soitec (Euronext
Paris), a world leader in generating and manufacturing
revolutionary semiconductor materials for electronic and
energy industries, reported consolidated sales of
80.7 million Euros for the third quarter of the
2011-2012 financial year, a strong increase of 23.9% over to
the same period of the previous financial year. Nine
months YTD consolidated sales grew by 20.2% to 243.2 million
Euros, despite the unfavourable Dollar/Euro which weakened by
7.4%.
Consolidated sales stable sequentially with the first significant solar division sales offsetting the decline in wafer sales
Within the electronic division for Q3, in a period dominated by the push to reduce inventories across the industry for the calendar year end, total wafer sales were 65.0 million Euros, down 8.2% (12.1% at constant exchange rates) on a sequential basis. Other electronic sales (layer transfer solutions, specialty electronics and licensing) were stable sequentially at 8.9 million Euros. On a year on year basis, total wafer sales recorded absolute growth of 11.5%, very close to the 10.3% increase at constant exchange rates.
The solar energy division recorded 6.8 million Euros of sales in the quarter.
Sales (Millions of Euros) | 2011-2012 | 2010-2011 | % growth |
First quarter | 82.8 | 68.6 | +20.7% |
Second quarter | 79.7 | 68.7 | +16.2% |
Third quarter | 80.7 | 65.1 | +23.9% |
TOTAL 9 months | 243.2 | 202.4 | +20.2% |
300mm dominate total wafer sales
300mm wafer sales of 57.3 million Euros in Q3 that were almost unchanged from Q2 (down 5.0% at constant exchange rates), represented 88% of total wafer sales. Other wafer sizes recorded 7.7 million Euros, a sequential decline of 36.4% in Euros ( 38.7% at constant exchange rates). This decline reflects markets most sensitive to general economic conditions such as the automotive industry.
First nine months of the financial year
Total wafer sales YTD were 213.2 million Euros, up 25.2% at constant exchange rates and 16.6% in Euros. Over the same period, the other electronic business units surged by 43.5% to 23.3 million Euros mainly from the layer transfer solutions success. Solar energy sales YTD of 6.8 million Euros all arose in the quarter, compared with 3.3 million Euros recorded YTD last year.
Full year consolidated sales anticipated to exceed 325 M€ if
the Q4 exchange rate remains at 1.30 Euros to the Dollar.
Significant full-year operating loss confirmed
The solar energy division achieved many commercial successes during the quarter. in three different continents. CPV systems were delivered for the first time to China, In South Africa, the Touwsrivier project was awarded preferred bidder status under phase one of the Government's Integrated Resource Plan. In the USA following the official CPUC clearance for the previously announced projects, the company announced the San Diego location of the 150 million Dollar plant that will have an initial annual manufacturing capacity of 200 MW of CPV modules.
The most recent electronic industry trends indicate an increase in the demand for wafers during the final quarter of the current financial year ending 31 March 2012, even if macroeconomic uncertainty is likely to continue to take its toll on markets globally. including electronics. The Solar Energy division also anticipates more new contracts in the quarter. As a result, full year consolidated sales are expected to exceed 325 million Euros based on a Q4 exchange rate of 1.30 Euros to the Dollar.
Despite this growth in sales, the company confirms the guidance for a significant full year operating loss. This is not anticipated to have a negative impact on cash resources because management focus is to ensure a significant reduction in inventories during the last quarter in order to generate a positive operating cash flow before investments over the full year. Full year industrial investment is anticipated to be in line with the 100 million Euros already anticipated.
Soitec recently announced the acquisition of Altatech Semiconductor to ensure strategic access to specific equipment necessary to deliver the LED strategy and to implement Soitec's Plug&Sun initiative in the solar market.
Agenda
Fourth-quarter 2011-2012 sales will be published after the
close of the Paris Bourse on 16 April 2012.
About Soitec
Soitec is an international manufacturing company, a world
leader in generating and manufacturing revolutionary
semiconductor materials at the frontier of the most exciting
energy and electronic challenges. Soitec's products include
substrates for microelectronics (most notably SOI :
Silicon-on-Insulator) and concentrating photovoltaic systems
(CPV). The company's core technologies are Smart Cut™, Smart
Stacking™ and Concentrix™, as well as expertise in epitaxy.
Applications include consumer and mobile electronics,
microelectronics-driven IT, telecommunications, automotive
electronics, lighting products and solar power plants for
large-scale utilities. Soitec has manufacturing plants and
R&D centers in France, Singapore, Germany, and the United
States.
Contacts:
French Media Contact
H&B Communication
Marie-Caroline Saro
+33 (0)1 58 18 32 44 / +33 (0)6 70 45 74 37
mc.saro@hbcommunication.fr
Claire Flin
+33 (0)1 58 18 32 53 / +33 (0)6 82 92 94 47
c.flin@hbcommunication.fr
Investor Relations
Olivier Brice
+33 (0)4 76 92 93 80
olivier.brice@soitec.com
International Media Contact
Camille Darnaud-Dufour
+33 (0)6 79 49 51 43
camille.darnaud-dufour@soitec.com
distribué par | Ce noodl a été diffusé par Soitec SA et initialement mise en ligne sur le site http://www.soitec.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-16 18:40:28 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |