Cardiff, United Kingdom
January 25, 2022
Pre-closing Business Update
IQE plc (AIM: IQE, “IQE” or the “Group”), the leading provider of compound semiconductor wafer products and advanced materials solutions for the global semiconductor industry, provides an update business before the close for the fiscal year ended December 31, 2021.
Revenue for the year to 31 December 2021 is expected to be in line with the November Trade Update forecast of around £164 million at constant currency, subject to external audit.
Cash capital expenditure for FY21 is expected to be in line with previously published guidance of £14-17m, resulting in net debt at 31 December 2021 of around £6m.
The Group will publish its annual financial results on March 29, 2022.
America LemosCEO of IQE, said:
“Having joined the company in January I am delighted that we have generated revenue in line with our November 2021 business update. I was very impressed with the caliber and commitment of the colleagues I met during my first few weeks with IQE as well as the quality of our world-class innovation. I am very excited about the growth potential associated with macro technology trends and IQE’s position at the heart of these future products..”
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IQE is the world’s leading provider of advanced semiconductor wafers and material solutions that enable a wide range of applications across:
- combined devices
- global telecommunications infrastructure
- connected devices
- 3D detection
As a global manufacturer of epitaxy wafers globally, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the entire market and is independent of chip and OEM winners and losers. Leveraging the Group’s intellectual property portfolio, including know-how and patents, it produces epitaxy slabs of superior quality, yield and unit economics.
IQE is headquartered in Cardiff UK, with c. 670 employees across nine manufacturing sites in the UK, US, Taiwan and Singapore, and is listed on the AIM Stock Exchange in London.