Soitec SA

Latest Results (10.01.2026):

Soitec SA — Fourth quarter of fiscal year 2025 (Q4’25) and full-year FY’25: Q4’25 revenue was €327m and FY’25 revenue was €891m (down 9% y/y). The company delivered a solid EBITDA margin (33.5%), positive free cash flow (€26m), and maintained a strong balance sheet while accelerating product diversification (POI and Photonics‑SOI traction) despite market weakness in RF‑SOI and automotive. Soitec withdrew multi‑period guidance and will provide only quarterly revenue guidance going forward.

Revenue

Q4’25 revenue: €327m (-3% reported vs Q4’24; -1% at constant FX & perimeter). FY’25 revenue: €891m (-9% vs FY’24), in line with revised guidance. Scope effects (divestment of Dolphin Design) and currency were minor.

Profitability & margins

FY’25 EBITDA €298m (margin 33.5%, down 50 bps vs FY’24). Current operating income €136m (15.2% of revenue). Gross margin fell to 32.1% (from 34.0%) reflecting lower volumes and higher depreciation; net profit €92m (basic EPS €2.57, -48% y/y).

Cash flow & balance sheet

Positive Free Cash Flow €26m (improvement vs -€43m FY’24). Cash €688m at 31 Mar 2025. Financial debt €782m; net debt €94m (up from €39m year earlier). Shareholders’ equity ~€1.6bn.

Segment performance

Mobile Communications: Q4’25 €220m, FY’25 €546m (-12% organic FY). RF‑SOI softened but POI and FD‑SOI gained traction; POI now a ~$100m+ annual product. Automotive & Industrial: Q4’25 €45m, FY’25 €129m (-22% organic FY) with Power‑SOI weakness. Edge & Cloud AI: Q4’25 €63m, FY’25 €216m (+11% organic FY) driven by Photonics‑SOI growth.

Outlook & guidance

Soitec withdrew FY’26 and medium‑term guidance due to low visibility. Q1’26 revenue is expected to be down ~20% y/y (Imager‑SOI phase‑out; Q1’25 Imager‑SOI = $25m). The company will only provide quarterly revenue guidance going forward.

Investments & capex

FY’25 cash capex (outflow) ≈ €230m. FY’26 capex cash‑out expected ≈ €150m. Soitec estimates ~€770m of investment needed to scale to a $2bn revenue run‑rate but gives no timing for that operating‑at‑scale target.

Corporate & one‑offs

Q4/FY’25 included a €13m loss on divestment of Dolphin Design businesses (other operating expense). Strategic moves include joining SEMI Silicon Photonics alliance and continued patent activity; management highlights accelerating adoption of POI and Photonics‑SOI as diversification offsets some legacy market weakness.