+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
News Article

IQE announces trading update and new CFO


20 percent revenue increase in line with expectations and diversification strategy

Compound semiconductor wafer firm IQE has released a a pre-close trading update for the financial year ended 31 December 2023.

Revenue for the period is expected to be at least £115 million, reflecting a more than 20 percent increase from H1 to H2 2023, in line with previously issued guidance. The group expects this to result in an adjusted EBITDA of at least £3 million and a net debt position of c.£3 million.

IQE has also announced a new CFO. Jutta Meier is an experienced finance executive who joins IQE from Intel where she served as a senior finance director at Intel Foundry Services, supporting Intel's Foundry business transformation. Prior to joining Intel, Jutta served as VP of finance at GlobalFoundries Inc and she also held various positions at AMD.

Americo Lemos, CEO of IQE, commented: "I am pleased our business performance was aligned to guidance despite a challenging macro environment. We returned to growth from H1 to H2 2023 and expect this positive trajectory to continue in 2024. Additionally, we made significant progress implementing our diversification strategy, expanding our customer engagement pipeline and securing multiple design wins in GaN Power and MicroLED markets. Our strategic investment in GaN capacity in 2023 is anticipated to unlock further opportunities throughout 2024."
Search the news archive

To close this popup you can press escape or click the close icon.
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.

Please subscribe me to:


You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: