X-FAB Silicon Foundries SE

XFAB

Equity

ISIN BE0974310428 / Valor 36167916

Euronext - Euronext Paris (2024-09-18)

EUR 4.90-0.53%

X-FAB Silicon Foundries SE
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About company

X-FAB Silicon Foundries SE is a leading analog/mixed-signal and specialty foundry that manufactures wafers for various applications, including automotive, industrial, consumer, and medical sectors. The company operates six manufacturing sites globally and offers modular CMOS processes in different geometries, as well as special SOI and MEMS long-lifetime processes. With a focus on advanced analog and mixed-signal process technologies, X-FAB provides a clear alternative to typical foundry services by offering specialized expertise, excellent service, high responsiveness, and first-class technical support to its customers.

Summarized from source with an LLMView SourceSector: Technology

Revenue Performance

In the second quarter of 2024, X-FAB Silicon Foundries SE reported revenues of USD 205.1 million, which is within the guidance range of USD 200-210 million. This represents a 9% decline year-on-year and a 4% decline quarter-on-quarter. The revenue decline was primarily driven by weakness in the industrial and silicon carbide (SiC) segments.

EBITDA and Margins

X-FAB Silicon Foundries SE's EBITDA for Q2 2024 was USD 47.9 million, down 23% year-on-year. The EBITDA margin stood at 23.3%, and excluding the impact of IFRS 15, the margin was 22.7%, which is at the higher end of the guided range of 20-23%. This indicates a strong operational performance despite the revenue decline.

Segment Performance

The automotive segment showed resilience with revenues of USD 142.4 million, up 9% year-on-year. However, the industrial segment saw a significant decline, with revenues dropping 33% year-on-year to USD 34.4 million. The medical segment also experienced a decline, with revenues down 18% year-on-year to USD 13.2 million.

Outlook and Guidance

For the third quarter of 2024, X-FAB Silicon Foundries SE expects revenues to be in the range of USD 205-215 million, with an EBITDA margin between 24-27%. The company has adjusted its full-year revenue guidance to USD 860-880 million, reflecting a delayed recovery in the SiC power device market. The full-year EBITDA margin guidance has been narrowed to 25-28%.

Capital Expenditures and Cash Position

In Q2 2024, X-FAB Silicon Foundries SE's capital expenditures amounted to USD 121.9 million, up 17% sequentially. The company ended the quarter with cash and cash equivalents of USD 290.1 million. The ongoing capacity expansion program is well-funded through a combination of cash reserves, credit facilities, customer prepayments, and operating cash flows.

Summarized from source with an LLMView Source

Key figures

-49.0%1Y

-45.3%3Y

7.54%5Y

Performance

36.6%1Y

41.4%3Y

48.5%5Y

Volatility