Brief: X-Fab Q3 EBITDA Down At USD 9.2 Mln

X-Fab Silicon Foundries Europese Vennootschap

27/10/2022 17:45

Oct 27 (Reuters) - X Fab Silicon Foundries EV  XFAB.PA :
    * X-FAB THIRD QUARTER 2022 RESULTS
    * Q4 2022 REVENUE IS EXPECTED TO BE IN RANGE OF USD 180-190
MILLION WITH AN EBITDA MARGIN IN RANGE OF 20-24%
    * REVENUE WAS USD 188.3 MILLION, WITHIN GUIDED USD 182-192
MILLION, UP 11% YEAR-ON-YEAR (YOY) AND FLAT QUARTER-ON-QUARTER
(QOQ)
    * Q1 2023 REVENUE IS EXPECTED TO COME IN AT A RANGE OF USD
205-220
MILLION
    * CONSISTENTLY STRONG DEMAND ACROSS X-FAB'S KEY END MARKETS,
WITH
BOOKINGS TOTALING USD 217.0 MILLION, UP 9% YOY, WHILE INDUSTRIAL
AND SILICON CARBIDE REVENUES WERE AT RECORD LEVELS
    * Q3 EBITDA AT USD 9.2 MILLION WITH A 4.9% MARGIN DUE TO USD
36.8
MILLION ONE-OFF IMPACT FROM ARBITRATION PROCEEDINGS; EXCLUDING
THIS EXCEPTIONAL ITEM, EBITDA WOULD HAVE BEEN USD 46.0 MILLION
WITH A MARGIN OF 24.4% ABOVE GUIDED 20-24%
    * OUTLOOK: ACCELERATED ITS ACTIVITIES TO EXPAND SIC
PROCESSING
CAPACITY AND PLANS TO MORE THAN DOUBLE CURRENT RUN RATE BY END
OF 2023
    * OUTLOOK: DELIVERY OF ADDITIONAL TOOLS TO INCREASE SIC
EPITAXY
CAPACITY IS STILL EXPECTED THIS YEAR
    * OUTLOOK: FULL YEAR CAPITAL EXPENDITURES ARE EXPECTED TO
COME IN
AT APPROXIMATELY USD 200 MILLION BUT COULD EVENTUALLY BE LOWER
DUE TO PROLONGED AND UNCERTAIN LEAD TIMES FOR DELIVERY OF NEW
EQUIPMENT ORDERED
    * CASH AND CASH EQUIVALENTS AT END OF Q3 AMOUNTED TO USD
327.5
MILLION, UP 30.6% COMPARED TO PREVIOUS QUARTER END

Source text for Eikon:  ID:nBw9FcLBSa 
Further company coverage:  XFAB.PA 
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