Oitec collapsed on the stock market after disappointing forecast
The specialist materials for semiconductors foresees a drop in its turnover by 20% in the current period and an operating loss of about 9 million. The title has lost almost 20% on the stock market.
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The descent into hell continues.
New blow for Soitec of Trafalgar. The action of specialist materials for semiconductors collapsed from 19.61% to 4.14 euros yesterday on the Paris Stock Exchange, after the announcement of a new warning on results.
The group anticipates an operating loss in the range of 3% of revenues during the 2007-2008 fiscal year ended June 30 and expects a turnover of 296 million euros, down 20% compared from the previous year.
This announcement comes one week after the dismissal of Deputy Chief Executive Officer of the company, Pascal Mauberger, and the return at the controls of CEO, Jacques-André Hauberton-Hervé ( "Les Echos" February 20, 2008). It has further accentuated the fall of a course which had already lost almost half its value since the beginning of the year, after having declined by nearly 70% in 2007 ...
As in the past, Soitec is the victim of its high dependence vis-à-vis its two major customers, IBM and AMD, which alone generated nearly 70% of the turnover of the group. Both players have reduced their orders plates silicon on insulator (SOI) of 14% over their initial commitments. Used in game consoles and next-generation microprocessors from AMD, this material can increase the performance of chips while reducing their consumption.
Strong dependence on dollar
Faced with an offensive of his great rival Intel, AMD has nevertheless lost market share on all segments (servers, desktops and laptops) in 2007. Soitec has also been penalized by its high exposure to the dollar, while its costs are mainly in euros. "A 10% fall in the dollar has an effect of 3 to 4 points on Ebit of Soitec," said Jacques-André Hauberton-Hervé, during a conference call. In this context, Soitec has chosen to focus on a "conservative" scenario for 2008-2009 with a turnover almost stable at constant exchange rates.
This assumption has been the effect of a cold shower to financial analysts more optimistic. Just a week ago, Fortis still considering an increase of 6% in 2008-2009, to 316 million euros.
Soitec table also hopes to improve its operating profit, excluding the charges related to the construction of its plant in Singapore (about 30 million). The group will be in the red by integrating them.
To redress the helm, the french intends to improve its recycling silicon purchased, while maximizing its investment in R & D. "This is not the first time the group through an area of heavy turbulence," said Jacques-André Hauberton-Hervé. Our priority will be to spark fresh orders from Asian smelters as TSMC and UMC. We expect a new wave of growth from mid-2009. "
Click here
The descent into hell continues.
New blow for Soitec of Trafalgar. The action of specialist materials for semiconductors collapsed from 19.61% to 4.14 euros yesterday on the Paris Stock Exchange, after the announcement of a new warning on results.
The group anticipates an operating loss in the range of 3% of revenues during the 2007-2008 fiscal year ended June 30 and expects a turnover of 296 million euros, down 20% compared from the previous year.
This announcement comes one week after the dismissal of Deputy Chief Executive Officer of the company, Pascal Mauberger, and the return at the controls of CEO, Jacques-André Hauberton-Hervé ( "Les Echos" February 20, 2008). It has further accentuated the fall of a course which had already lost almost half its value since the beginning of the year, after having declined by nearly 70% in 2007 ...
As in the past, Soitec is the victim of its high dependence vis-à-vis its two major customers, IBM and AMD, which alone generated nearly 70% of the turnover of the group. Both players have reduced their orders plates silicon on insulator (SOI) of 14% over their initial commitments. Used in game consoles and next-generation microprocessors from AMD, this material can increase the performance of chips while reducing their consumption.
Strong dependence on dollar
Faced with an offensive of his great rival Intel, AMD has nevertheless lost market share on all segments (servers, desktops and laptops) in 2007. Soitec has also been penalized by its high exposure to the dollar, while its costs are mainly in euros. "A 10% fall in the dollar has an effect of 3 to 4 points on Ebit of Soitec," said Jacques-André Hauberton-Hervé, during a conference call. In this context, Soitec has chosen to focus on a "conservative" scenario for 2008-2009 with a turnover almost stable at constant exchange rates.
This assumption has been the effect of a cold shower to financial analysts more optimistic. Just a week ago, Fortis still considering an increase of 6% in 2008-2009, to 316 million euros.
Soitec table also hopes to improve its operating profit, excluding the charges related to the construction of its plant in Singapore (about 30 million). The group will be in the red by integrating them.
To redress the helm, the french intends to improve its recycling silicon purchased, while maximizing its investment in R & D. "This is not the first time the group through an area of heavy turbulence," said Jacques-André Hauberton-Hervé. Our priority will be to spark fresh orders from Asian smelters as TSMC and UMC. We expect a new wave of growth from mid-2009. "
posted by news of france at
11:26 AM
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