Soitec (SOI) investor relations material

Executive summary

• Q1 FY2027 revenue reached €113 million, up 23% year-over-year at constant currency and scope, surpassing guidance of 15%, driven by strong AI-related Photonic SOI demand and doubling of Photonics-SOI sales for high-speed optical transceivers in AI data centers.

• Photonic SOI sales doubled year-over-year, supported by accelerating customer demand, multi-year commitments, and customer deposits extending beyond FY2027.

• Singapore 300mm SOI fab qualified for high-volume Photonic SOI manufacturing, enhancing capacity and supporting global supply chain resilience.

• Company remains focused on scaling Photonic SOI capacity and disciplined execution of its strategic plan.

• Multi-year capacity reservation agreements and customer deposits are strengthening medium-term visibility.

Financial highlights

• Q1 revenue: €113 million, up 23% year-over-year at constant currency and scope.

• Edge & Cloud AI segment revenue: €65 million, up 47% year-over-year, with Photonic SOI as the main driver.

• Mobile Communications revenue: €39 million, down 10% year-over-year, reflecting a challenging smartphone market and inventory correction.

• Automotive & Industrial revenue: €10 million, up 108% year-over-year, albeit from a low base.

• Photonic SOI contributed more than half of Edge & Cloud AI revenue in Q1.

Outlook and guidance

• Q2 FY2027 revenue expected to rise over 30% year-over-year, led by Photonic SOI acceleration.

• FY2027 Photonic SOI revenue projected to more than double FY2026 levels (FY2026 slightly above $100 million), assuming no major AI market disruption.

• Contrasting market dynamics expected: Mobile Communications faces inventory correction, Automotive stable due to long-term agreements, Edge & Cloud AI to see continued momentum.

• FY2027 CapEx cash out expected around €100 million, with focus on agile investment and disciplined execution.