Soitec prospers on demand, acquisitions
Sales of 200mm-diameter wafers increased by 16.9 percent compared with a year before while sales of 300mm wafers increased by 36.9 percent. Royalties and other income almost quadrupled. The results partly reflect the acquisition of Dolphin Integration assets in August 2018 and of EpiGaN in May 2019.
As a consequence of strong 300mm wafer sales they reached 48 percent of revenue in 1Q20FY. 200mm wafer sales, mainly for RF and power applications, also increased.
Soitec’s 200mm wafer plant at Bernin near Grenoble is running at full capacity and outsourcing to Simgui is rising, the company said. Manufacturing utilization at Soitec’s 300mm wafer plant on the same site was at 80 percent in 1Q20FY compared with 55 percent in 1Q19FY.
“In our first quarter, we achieved a strong 20 percent organic growth and remain extremely confident in our prospects for the full year,” said Paul Boudre, CEO of Soitec, in a statement. He continued: “The acquisition of EpiGaN expands our engineered substrate portfolio beyond silicon into gallium nitride epitaxial wafer materials, opening up opportunities to create new value-added products for both RF 5G and power systems. In the meantime, we further extended our close relationship with Globalfoundries to ensure state-of-the-art high-volume 300mm manufacturing for years to come. Finally, thanks to our enhanced R&D partnership with Kokusai, we will benefit from their unique expertise in thermal treatment and layer formation processes which is essential in building next generations of substrates for semiconductor devices.”
The company said that it plans to reach €900 million of annual revenue in FY22 and that it would be adding manufacturing capacity by extending its current industrial sites. Soitec added that it expects revenues to grow by about 30 percent in FY20.
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