IQE PLC IQE plc: Pre-close Trading Update (4009S)
July 14 2022 - 2:00AM
UK Regulatory
TIDMIQE
RNS Number : 4009S
IQE PLC
14 July 2022
IQE plc
Cardiff, UK
14 July 2022
Pre-close Trading Update
IQE plc (AIM: IQE, "IQE" or the "Group"), the leading supplier
of compound semiconductor wafer products and advanced material
solutions to the global semiconductor industry , provides an
unaudited pre-close Trading Update for the six months ended 30 June
2022.
Trading for H1 2022 was in line with management expectations.
Revenue for the half is expected to be at least GBP85m (>7%
growth) on a reported basis. With a foreign exchange tailwind, this
is in line with prior year revenue of GBP79.5m on a constant
currency basis.
The Group's view of the full year remains unchanged with
previously issued guidance of low single digit % revenue growth in
2022 (at constant currency), with growth weighted towards H2.
The Group is focussing on executing the strategy of pursuing
long term sustained growth through diversification and value
creation. Milestones achieved in the first half of 2022 include the
signing of a multi-year supply agreement with Lumentum, a strategic
partnership agreement with Porotech, the announcement of the
world's first commercially available 200mm VCSEL and a commitment
to Net Zero and Carbon Neutrality. Further milestones are
anticipated for H2 as the business is positioned for growth.
The Group will report full (unaudited) interim results on 6(th)
September 2022.
Americo Lemos, CEO of IQE, commented:
"I am pleased we have met our expectations and commitments for
H1 2022. This year is about laying foundations for the healthy
growth of the business, with a focus on a market approach while
developing relationships with strategic customers to deliver long
term growth and value to shareholders. We look forward to
continuing with this momentum throughout the rest of the year".
Contacts:
IQE plc
+44 (0) 29 2083 9400
Americo Lemos
Tim Pullen
Amy Barlow
Peel Hunt LLP (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Edward Knight
Paul Gillam
James Smith
Citigroup Global Markets Limited (Joint Broker)
+44 (0) 20 7986 4000
Christopher Wren
Peter Catterall
Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822
Andy Rivett-Carnac: +44 (0) 7968 997 365
Antonia Pollock: +44 (0) 7789 954 356
ABOUT IQE
http://iqep.com
IQE is the leading global supplier of advanced compound
semiconductor wafers and materials solutions that enable a diverse
range of applications across:
-- handset devices
-- global telecoms infrastructure
-- connected devices
-- 3D Sensing
As a scaled global epitaxy wafer manufacturer, IQE is uniquely
positioned in this market which has high barriers to entry. IQE
supplies the whole market and is agnostic to the winners and losers
at chip and OEM level. By leveraging the Group's intellectual
property portfolio including know-how and patents, it produces
epitaxy wafers of superior quality, yield and unit economics.
IQE is headquartered in Cardiff UK, with c. 685 employees across
nine manufacturing locations in the UK, US, Taiwan and Singapore,
and is listed on the AIM Stock Exchange in London.
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END
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