Soitec Q1 down 23 percent
French semiconductor materials firm Soitec has announced consolidated revenue of €121 million for the first quarter of FY’25 (ended June 30th, 2024), down 23 percent on a reported basis compared with €157 million achieved in the first quarter of FY’24.
Pierre Barnabé, Soitec’s CEO, commented: “The low point reached in the first quarter of our fiscal year 2025 was anticipated and is in line with our expectations, in a challenging market environment. The absorption of our customers' RF-SOI inventories is progressing and should be completed towards the end of the first half of our fiscal year 2025.
"Beyond this quarter, the gradual recovery in RF-SOI deliveries and the continued growth of our increasingly diversified product portfolio will underpin the revenue increase throughout the second part of fiscal year 2025. We therefore reiterate our full year guidance."
Looking ahead, Barnabé said Soitec’s growth will be underpinned by 5G expansion, the ongoing electrification of the automotive sector, the proliferation of edge AI devices, and the expansion of cloud AI computing power capabilities in a more sustainable way.
