In This Article:
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Revenue: $205 million, down 9% year on year and 4% quarter on quarter.
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Core Market Revenue: $190 million, down 4% year on year.
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Automotive Revenue: $142 million, up 9% year on year.
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CMOS Business Revenue: $166 million, down 8% year on year.
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Silicon Carbide Revenue: $11.6 million, down 33% year on year.
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Industrial Business Revenue: $34 million, down 33% year on year.
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Microsystems Business Revenue: $25 million, up 21% year on year.
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Medical Revenue: $13 million, down 18% year on year.
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Quarterly Bookings: $248 million, up 12% year on year.
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Backlog: $270 million, up from $220 million in the previous quarter.
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Prototyping Revenues: $21 million, down 24% year on year.
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EBITDA: $48 million with a margin of 23.3%.
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Cash and Cash Equivalents: $290.1 million.
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Capital Expenditure: $122 million for the second quarter.
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Guidance for Q3 2023 Revenue: $205 million to $215 million.
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Guidance for Q3 2023 EBITDA Margin: 24% to 27%.
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Full-Year Revenue Guidance: Adjusted to $860 million to $880 million.
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Full-Year EBITDA Guidance: 25% to 28%.
Release Date: July 25, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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X-FAB Silicon Foundries SE (XFABF) achieved a record high in the share of total revenues from core markets, including automotive, industrial, and medical sectors.
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The company reported strong quarterly bookings amounting to $248 million, up 12% year on year, indicating robust demand for its technologies.
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X-FAB's microsystems business showed strong growth with a 21% year-on-year increase in revenue, driven by next-generation automotive applications.
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The company maintains a strong cash position with $290.1 million in cash and cash equivalents, securing financing for ongoing capacity expansion programs.
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X-FAB continues to invest in expanding its 200-millimeter CMOS technology capacity, which is in high demand, ensuring long-term growth potential.
Negative Points
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Revenues for the second quarter were $205 million, down 9% year on year and 4% quarter on quarter, reflecting a decline in overall business performance.
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Silicon carbide revenue declined by 33% year on year, with the current weakness expected to bottom out in the third quarter.
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The industrial business revenue decreased by 33% year on year, impacted by weaknesses in 150-millimeter CMOS and silicon carbide technologies.
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Medical revenues fell by 18% year on year, affected by temporary allocation issues in CMOS capacities.
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The company adjusted its full-year revenue guidance downward, reflecting delayed recovery in the silicon carbide power device market.