Soitec: "We recorded our highest first quarter ever"
Semiconductor materials specialist Soitec reported consolidated revenue of EUR 203 million for the first quarter of FY’23, up 12% compared with EUR 180 million during the first quarter of FY’22.
“We recorded our highest first quarter ever, despite two production interruptions in Bernin, making us confident in our ability to achieve our full-year guidance that will be leading to a new record year. Our performance has been driven by continuous growth in radiofrequency applications driven by the 5G momentum, a sharp increase in automotive applications led by the ongoing deep transformation of the automotive industry, as well as a strong surge in FD-SOI wafer sales across our three end markets,” says Paul Boudre, Soitec’s CEO, in a press release.
Soitec is reporting its revenue by end market instead of breaking it down by wafer size. And looking at the company's markets it's very clear har Mobile communications is – and has been – Soitecs biggest revenue driver. The company recorded revenues of EUR 152 million, up 13% from EUR 135 million from the Mobile communications market during 1Q23.
Within the Automotive & Industrial markets, Soitec recorded revenues of EUR 23 million, up 46% from EUR 16 million during the same period the year before. Within Smart devices, the company took a hit as revenues decreased 6% and ended up at EUR 28 million during 1Q23.