Brief: X-FAB Q1 EBITDA Up 105% YoY At USD 35.6 Mln

X-Fab Silicon Foundries Europese Vennootschap

29/04/2021 11:29

April 29 (Reuters) - X FAB SILICON FOUNDRIES EV  XFAB.PA :
    * X-FAB FIRST QUARTER 2021 RESULTS
    * REVENUE WAS USD 155.4 MILLION, CLEARLY EXCEEDING INITIAL
GUIDANCE OF USD 145-152 MILLION, UP 22% YEAR-ON-YEAR (YOY)
    * RECORD QUARTERLY BOOKINGS AT USD 210.9 MILLION, UP 42% YOY
AND
UP 11% QOQ
    * Q1 EBITDA MARGIN OF 22.9%, CLEARLY ABOVE 16-20% GUIDANCE
    * Q1 EBITDA WAS USD 35.6 MILLION, UP 105% YOY AND UP 58% QOQ
    * Q1 EBIT WAS USD 17.0 MILLION, UP USD 18.5 MILLION YOY AND
UP USD
13.4 MILLION
    * Q2 2021 REVENUE IS EXPECTED IN RANGE OF USD 154-160
MILLION WITH
AN EBITDA MARGIN IN RANGE OF 17-21%
    * BASED ON PROJECTS IN PIPELINE, STRONG DEMAND AND BACKLOG
ACCUMULATED OVER PAST TWO QUARTERS, REVENUE GUIDANCE FOR FULL
YEAR IS RAISED TO USD 610-630 MILLION WITH AN EBITDA MARGIN IN
RANGE OF 18-21%
    * BOOKINGS REMAINED AT A HIGH LEVEL THROUGHOUT Q1 SETTING A
NEW
QUARTERLY RECORD OF USD 210.9 MILLION
    * ACCUMULATED BACKLOG WILL CONTRIBUTE POSITIVELY TO BUSINESS
GROWTH OVER COMING QUARTERS
    * CAPITAL EXPENDITURES IN Q1 AMOUNTED TO USD 9.7 MILLION,
WHICH IS
ABOUT SAME LEVEL AS IN Q1 LAST YEAR
    * X-FAB HAS KICKED OFF NEW INVESTMENTS DURING Q1, WHICH ARE
EXPECTED TO START HAVING AN IMPACT IN Q4 OF 2021
    * WE ARE EXPERIENCING AN UNPRECEDENTED PERIOD OF EXCEPTIONAL
DEMAND - CEO
    * DEMAND NOT ONLY DRIVEN BY RECOVERY AFTER PAST YEAR'S
DEMAND
WEAKNESS BUT ALSO BOOSTED BY LAUNCH OF NEW PRODUCTS AND
ACQUISITION OF NEW CUSTOMERS - CEO

Source text for Eikon:  ID:nBwrwhdFa 
Further company coverage:  XFAB.PA 

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