News Article
IQE's financials hike thanks to diversifying
The group says it has been transformed by three strategic transactions, making the firm well positioned to exploit its position in growing markets. These include co-operations with Solar Junction, RFMD and Kopin
IQE plc, a global supplier of wafer products and services to the semiconductor industry, has announced its final results for the year ended 31st December 2012.
Revenues increased 17 percent to £88 million, up from £75.3 million in 2011. The second half of 2011 was particularly strong and up 45 percent to £53.7 million from H2 2011 revenues of £37 million.
In the second half of 2012, EBITDA increased by 56 percent to £12.2 million from £7.8 million in the second half of 2011.
CAPEX was £13.1 million, down from 2011, when it was £17.4 million but the firm says this was down to its completion of its two year capacity expansion programme.
Drew Nelson, IQE Chief Executive was very proud of the company's results, and made a long statement. He said:
“IQE has been transformed over the last 14 months. Three major transactions, the completion of our capacity expansion programme and the achievement of a number of significant qualifications in both wireless and photonics (optoelectronics) have laid the foundations for accelerated growth in 2013 and beyond."
“Financially, our record second half performance in 2012 has provided a glimpse of what’s to come. Furthermore, the strengthening of our risk mitigation strategy reduces the potential for short-term customer demand volatility."
“The road ahead has never been clearer. The advanced properties of compound semiconductors are central to addressing the challenges and performance expectations facing the electronics industry. This is a matter of fundamental physics as the next wave of growth for the electronics industry will be enabled by combining the properties of advanced compound semiconductors with the cost advantages of silicon. This is already beginning to happen and will accelerate in the next few years."
“As IQE is at the forefront of this trend, we are increasingly confident that the Group is well positioned for strong growth in 2013 and beyond. Therefore our focus now is on delivery. The current financial year has started well, in line with the Board’s expectations, with the momentum seen in the second half of 2012 continuing.”
Revenues increased 17 percent to £88 million, up from £75.3 million in 2011. The second half of 2011 was particularly strong and up 45 percent to £53.7 million from H2 2011 revenues of £37 million.
In the second half of 2012, EBITDA increased by 56 percent to £12.2 million from £7.8 million in the second half of 2011.
CAPEX was £13.1 million, down from 2011, when it was £17.4 million but the firm says this was down to its completion of its two year capacity expansion programme.
Drew Nelson, IQE Chief Executive was very proud of the company's results, and made a long statement. He said:
“IQE has been transformed over the last 14 months. Three major transactions, the completion of our capacity expansion programme and the achievement of a number of significant qualifications in both wireless and photonics (optoelectronics) have laid the foundations for accelerated growth in 2013 and beyond."
“Financially, our record second half performance in 2012 has provided a glimpse of what’s to come. Furthermore, the strengthening of our risk mitigation strategy reduces the potential for short-term customer demand volatility."
“The road ahead has never been clearer. The advanced properties of compound semiconductors are central to addressing the challenges and performance expectations facing the electronics industry. This is a matter of fundamental physics as the next wave of growth for the electronics industry will be enabled by combining the properties of advanced compound semiconductors with the cost advantages of silicon. This is already beginning to happen and will accelerate in the next few years."
“As IQE is at the forefront of this trend, we are increasingly confident that the Group is well positioned for strong growth in 2013 and beyond. Therefore our focus now is on delivery. The current financial year has started well, in line with the Board’s expectations, with the momentum seen in the second half of 2012 continuing.”
