Stock Market Impact: Soitec SA shares jumped over 14% to their highest level since August 2023 following the earnings release.
Listed Companies and Sectors: The French semiconductor‑materials maker reported FY26 free cash flow of €63 million, far above the €6 million consensus. Full‑year revenue was €592 million, beating the €584.1 million estimate. Q4 revenue reached €202 million, a 25% constant‑currency increase versus Q3, surpassing the €193 million consensus. Segment‑wise, Mobile Communications generated €309 million (‑41% CC), Edge & Cloud AI €214 million (+8% CC), Automotive & Industrial €69 million (‑44% CC). Photonics‑SOI revenue crossed $100 million, earlier than expected, with Morgan Stanley estimating FY26 growth of 60‑70% to about $130 million. Gross profit fell to €96 million (16.3% of revenue) versus €286 million prior year, missing the €119.2 million consensus. EBITDA declined to €151 million (25.4% of revenue), slightly below the €153.7 million consensus. Net loss widened to €220 million, contrasting with a €92 million profit a year earlier and a consensus of –€72.4 million. Impairments of €105 million (including €41 million on SmartSiC assets and €29 million on the Pasir Ris Singapore extension) and a €17 million foreign‑exchange loss contributed to the loss.
Investment Flows: Net debt decreased to €56 million from €94 million, improving the net‑debt‑to‑EBITDA ratio to 0.4×. Cash and cash equivalents stood at €562 million as of 31 Mar 2026. Capital expenditure for FY26 was €135 million, down 41% from €230 million the prior year; FY27 capex is projected around €100 million. The company has hedged roughly 95% of FY27 FX exposure at an average rate of 1.19 € per US$.
Interest Rates, Inflation, and Liquidity: No specific references in the release.
Fiscal or Monetary Policy: No specific references in the release.
