Soitec reports consolidated sales of 262.8million Euros for the full year 2012-2013

· Full year sales at 262.8 million Euros down by 18.7% amid PC sales plunge

· Strong sequential growth in Q4 Electronic sales driven by 60.2% increase in smart phone and tablets markets

· Cash balance close to 130 million Euros with initiation of cost containment program and completion of investments in solar

· H2 current operating loss expected to be significantly reduced compared to H1

· Financial year 2013-2014 expected to be a rebound year with Electronic sales to remain soft but Solar Energy to deliver large scale utility projects

 

Bernin, France, 15^h April 2013 – Soitec (Euronext Paris), a world leader in generating and manufacturing revolutionary semiconductor materials for energy and electronics, today announced consolidated sales of 72.7 million Euros for the fourth quarter down by 9.3% on a yearly basis. For the full year 2012-2013 sales totalled 262.8 million Euros. Total cash resources after completion of industrial investments in Solar are anticipated close to 130 million Euros at the end of March. H2 current operating loss is expected to be significantly reduced compared to H1 thanks to cost cutting initiatives. The audit procedures carried out on the consolidated financial statements by the Statutory Auditors are currently in progress.

Electronic Business Segment

 

In a poor economic overall environment where PC related market plunged, Soitec benefited from its strategic positioning dedicated to mobile applications.

On a sequential basis Q4 Electronic sales were up by 19.1% at 71.3 million Euros resulting mainly from a total wafer sales growth of 31.1% at 58.1 million Euros driven by a 20.0% increase in 300 mm wafer sales up to 39.0 million Euros and a growth of 60.2% in other diameters sales dedicated smart phone applications at 20.0 million Euros.

On a yearly basis, Q4 Electronic sales were down by 11.1% as total wafer sales reduced by 16.5% with a decrease in 300mm wafer sales of 29.6% partially offset by Smart Phones related sales which were up by 30.5%. Other electronic sales including Layer Transfer Solutions, Specialty Electronics, Licensing and Equipment were up by 24.4% at 13.1 million Euros in the fourth quarter as Layer Transfer Solutions sales were up by 58.7% at 11.5 million Euros.

Over the full year, Electronic sales reduced by 18.8% at 257.1 million Euros. Total wafer sales for the full year recorded reduction of 30.1% down to 197.6 million Euros. For the full year 300 mm wafer sales decreased by 40.0% in Euros as PC markets plunged. Other diameters sales dedicated to mobile applications increased by 13.4% on a reported basis and Other Electronic sales were up by 75.8% at 59.5 million Euros demonstrating the benefits of the promising strategic positioning of Soitec in mobile applications.

Sales linked to the PC and Gaming applications of the Electronic Division represents less than 45% of total electronic sales over the financial year.

Solar Energy Business Segment

 

The Solar Energy division reported sales of 1.4 million Euros for the fourth quarter as South African green light has been delayed. Over the year the Division delivered quite the same turnover as last year.

H2 current operating loss drastically reduced below 60 million Euros - total cash position ending close to 130 million Euros

 

Electronics business segment which implemented strong cost cutting actions is anticipated to be positive in H2 while Solar Energy business completed its industrial ramp in the Freiburg and San Diego factories. Strategic research and development programs dedicated to high efficiency solar cells or LEDs are pursued in order to reach anticipated milestones. H2 current Ebit guidance demonstrates first benefits from cost cutting actions implemented over the year compared to H1 Current Ebit loss at 70.2 million Euros. While having completed its investment plan mainly dedicated to solar markets with support to our growth strategy, Soitec anticipates its total cash position at the end the year to be close to 130 million Euros thanks to a strong focus on cash management.

Electronic division sales anticipated to remain soft over 2013-2014

 

Total Electronic sales for 2013-2014 financial year will remain soft with limited visibility as current market conditions for PC related markets still suffered from on going cannibalization by smart phones or tablets applications. Soitec is pursuing its strategic value proposal to the industry based on its Fully Depleted solutions (FD2D or FD3D) perfectly suitable for these new market opportunities. Small diameter wafers for RF applications based on SOI technology are anticipated to get further traction over the financial year

 

Solar Energy to complete first utility scale project

 

Solar Energy sales should benefit from the significant South African contract which will be shipped soon as far as South African green-lights will be completed. In the second half, US operations should also benefit from the first deliveries related to our strong pipeline in California up to 355 MW which will support further growth.

Lighting: new worldwide partnerships and first contract with RATP

 

First contract with RATP and licensing agreements with Sumitomo and GT Advanced Technologies demonstrate value of Soitec new materials dedicated to lighting markets. Soitec, is well positioned on these markets, at the heart of the LED solutions.

Agenda



The annual audited results for the financial year 2012-2013 will be published on 23 May 2013 before the opening of the Paris Stock Exchange.

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 concentrator 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 large-scale solar power plants. Soitec has manufacturing plants and

R&D centers in France, Singapore, Germany, and the United States. For more information, visit:

www.soitec.com.

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For more information, visit www.soitec.com.

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