REG - IQE PLC - IQE plc: Pre-close Trading Update

IqeAnnouncement

14/07/2022 07:00

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RNS Number : 4009S  IQE PLC  14 July 2022

IQE plc

 

Cardiff, UK

14 July 2022

 

 

Pre-close Trading Update

 

 

IQE plc (AIM:  IQE, "IQE" or the "Group"), the leading supplier of compound
semiconductor wafer products and advanced material solutions to the global
semiconductor industry, provides an unaudited pre-close Trading Update for the
six months ended 30 June 2022.

Trading for H1 2022 was in line with management expectations. Revenue for the
half is expected to be at least £85m (>7% growth) on a reported basis.
With a foreign exchange tailwind, this is in line with prior year revenue of
£79.5m on a constant currency basis.

The Group's view of the full year remains unchanged with previously issued
guidance of low single digit % revenue growth in 2022 (at constant currency),
with growth weighted towards H2.

The Group is focussing on executing the strategy of pursuing long term
sustained growth through diversification and value creation. Milestones
achieved in the first half of 2022 include the signing of a multi-year supply
agreement with Lumentum, a strategic partnership agreement with Porotech, the
announcement of the world's first commercially available 200mm VCSEL and a
commitment to Net Zero and Carbon Neutrality. Further milestones are
anticipated for H2 as the business is positioned for growth.

The Group will report full (unaudited) interim results on 6(th) September
2022.

Americo Lemos, CEO of IQE, commented:

"I am pleased we have met our expectations and commitments for H1 2022. This
year is about laying foundations for the healthy growth of the business, with
a focus on a market approach while developing relationships with strategic
customers to deliver long term growth and value to shareholders.  We look
forward to continuing with this momentum throughout the rest of the year".

 

Contacts:

 

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Tim Pullen

Amy Barlow

 

Peel Hunt LLP (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Edward Knight

Paul Gillam

James Smith

 

Citigroup Global Markets Limited (Joint Broker)

+44 (0) 20 7986 4000

Christopher Wren

Peter Catterall

 

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Antonia Pollock: +44 (0) 7789 954 356

 

ABOUT IQE

http://iqep.com
(https://www.globenewswire.com/Tracker?data=yZf7NKp1JKLALUCxlBuC8wkLnLAqoe5-kjjIlkMIDci9q9W0x_02bwZV-eorSbpLXZxy4zi3xHh-O4FM8nWjeg==)

 

IQE is the leading global supplier of advanced compound semiconductor wafers
and materials solutions that enable a diverse range of applications across:

 

·    handset devices

·    global telecoms infrastructure

·    connected devices

·    3D Sensing

 

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in
this market which has high barriers to entry. IQE supplies the whole market
and is agnostic to the winners and losers at chip and OEM level. By leveraging
the Group's intellectual property portfolio including know-how and patents, it
produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with c. 685 employees across nine
manufacturing locations in the UK, US, Taiwan and Singapore, and is listed on
the AIM Stock Exchange in London.

 

 

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