Brief: X Fab Silicon Foundries Says Further Financial Impact Of Arbitration Proceedings With A Supplier

X-Fab Silicon Foundries Europese Vennootschap

06/10/2022 17:04

Oct 6 (Reuters) - X Fab Silicon Foundries EV  XFAB.PA :
    * FURTHER FINANCIAL IMPACT OF ARBITRATION PROCEEDINGS WITH A
SUPPLIER
    * IT HAS NOW BECOME CLEAR THAT SUPPLIER IS NOT OBLIGED TO
SUPPLY
DISPUTED MATERIALS IN RETURN FOR FURTHER USD 36.8 MILLION THAT
WAS PAID TO SUPPLIER IN Q3 BASED ON ARBITRATION AWARD
    * THIS WILL HAVE A ONE-OFF NEGATIVE IMPACT OF USD 36.8
MILLION ON
Q3'S OPERATING PROFIT (EBIT) AND EBITDA
    * ACCORDINGLY THAT GUIDANCE FOR EARNINGS AND CASH FLOWS IS
LOWERED
BY AMOUNT OF THIS ONE-OFF ADDITIONAL EXPENSE OF USD 36.8 MILLION
    * FULL IMPACT OF ARBITRATION HAS NOW BEEN ACCOUNTED FOR.
DISPUTE
RELATES TO YEARS 2019 AND 2020 AND DOES NOT AFFECT X-FAB'S
POSITIVE LONG-TERM BUSINESS OUTLOOK AND GUIDANCE

Source text for Eikon:  ID:nBw7lRPy6a 
Further company coverage:  XFAB.PA 
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