Nexperia sees 2023 drop after Newport sale
Cette publication existe aussi en Français
Nexperia saw 13 percent growth in R&D in 2023 despite an 8 percent fall in turnover and its challenges as a result of its Chinese ownership.
Total revenue at Nexperia was US$2.15bn in 2023, down 8% from $2.36bn in 2022 on weak market demand. Revenue in the traditionally strong automotive segment grew significantly, but as the Dutch company, headquartered in Nijmegen, is owned by Chinese holding company WingTech, the revenue for automotive is not available.
The year also saw Nexperia forced to sell its stake in Newport Wafer Fab it bought in Wales over national security concerns by the UK government. Reports in 2021 put the price for the foundry at $87m (£63m), while Vishay’s Siliconix subsidiary finally purchased the site earlier this year for $117m.
- UK approves Vishay deal to buy Newport Wafer Fab
- Nexperia defends Newport deal
- Newport Wafer Fab stake sold
The company said 2023 marked a significant investment year, upgrading and expanding the product portfolio in discrete power devices, modules, analog and power ICs at 13% of revenue, or $280m. Nexperia has power fabs at Hazel Grove in Manchester and in Hamburg, Germany. It has also been increasing the level of integration of its products, opening the first analog design centre in Dallas in 2022.
“Looking ahead to 2024, while uncertainties persist in Europe and North America, we are encouraged by increasing demand levels in Asia. Despite market fluctuations, we remain dedicated to delivering value to our stakeholders,” said Stefan Tilger, CFO, Nexperia.
The company raised $800m in a Senior Sustainability-Linked Loan (SLL) to help its achieve carbon neutrality by 2035 for scope 1 and 2 emissions.
- How Nexperia plans to reach $10bn
- Analog chip market entry with first US design
- $700m boost for fabs in Hamburg and Manchester
“TeamNexperia has shown remarkable resilience in navigating the challenges of the past year, reaffirming the underlying strength and progress of our company. Despite the challenges, we remain committed to investment and innovation, laying the groundwork for a promising future,” said Wing Zhang, CEO of Nexperia and of WingTech.
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
