Core Points - Soitec will hold its Annual General Meeting on July 22, 2025, at 9:30 a.m. Paris time in Paris, France [1] - The preliminary meeting notice was published in the French legal gazette on June 13, 2025, including the agenda and draft resolutions [2] - The convening notice will be published on July 4, 2025, and all related documents are available on the company's website [3] - Shareholders can request additional documents up to five days before the meeting, with specific instructions provided [4] - The General Meeting will be broadcast live on Soitec's website and available for replay [5] - The first-quarter 2025-2026 revenue will be announced on July 22, 2025, after market close [6] Company Overview - Soitec is a world leader in innovative semiconductor materials, with over 30 years of experience in developing high-performance and energy-efficient products [7] - The company operates in three strategic markets: mobile communications, automotive and industry, and smart devices, employing 2,300 people from 50 different nationalities [7] - Soitec has registered more than 4,100 patents, highlighting its strong position in the semiconductor value chain [7]

Core Insights - CEA-Leti and Soitec have formed a strategic partnership to enhance the cybersecurity of integrated circuits (ICs) using fully depleted silicon-on-insulator (FD-SOI) technologies, targeting critical markets such as automotive, industrial IoT, and secure infrastructure [1][2][3] Group 1: Partnership Objectives - The initiative aims to experimentally validate and augment the security benefits of FD-SOI, providing concrete data and practical demonstrations to meet rising cybersecurity demands [2][4] - Key goals include co-developing innovations to boost physical robustness and meet security requirements in automotive and embedded systems, as well as demonstrating empirical security data for certification contexts [6][7] Group 2: Technological Advantages - FD-SOI offers significant advantages against physical attacks, including laser fault injection (LFI), due to its thin-film architecture and channel isolation [3][7] - The technology enables power-performance optimization, essential for battery-constrained applications like automotive electronic control units (ECUs) and industrial sensors [7] - Enhanced protection features include embedded anti-tamper mechanisms and physical unclonable functions (PUFs) for hardware fingerprinting, along with dynamic response mechanisms to counter emerging threats [7] Group 3: Long-Term Vision - The partnership sets the stage for long-term innovation, envisioning a next-generation cyber-substrate that addresses both cyber and supply-chain vulnerabilities, making FD-SOI more secure and indispensable [5][6] Group 4: Company Backgrounds - CEA-Leti is a global leader in miniaturization technologies, focusing on smart, energy-efficient, and secure solutions, with a portfolio of 3,200 patents and over 2,000 employees [8][9] - Soitec, a leader in innovative semiconductor materials, generated sales of €0.9 billion in fiscal year 2024-2025 and holds nearly 4,300 patents, serving key markets including mobile communications, automotive, and industrial [10]

Core Points - Soitec has filed its 2024-2025 Universal Registration Document with the French Financial Markets Authority [1] - The document is available in both French and English on the company's website and the AMF's website [2] - The document includes the annual financial report and key upcoming events such as the first-quarter 2025-2026 revenue announcement and the Annual General Meeting [3] Company Overview - Soitec is a leading company in innovative semiconductor materials, generating sales of €0.9 billion in fiscal year 2024-2025 [4] - The company serves three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI [4] - Soitec employs over 2,200 individuals from 50 different nationalities and holds nearly 4,300 patents [4][7]

Company Overview - Soitec is a world leader in innovative semiconductor materials, with over 30 years of experience in developing cutting-edge products that deliver technological performance and energy efficiency [2] - The company generated sales of 1 billion Euros in the fiscal year 2023-2024 [2] - Soitec serves three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI [2] Share Capital and Voting Rights - As of May 31, 2025, Soitec has a total of 35,727,041 ordinary shares with a par value of €2.00 each [3] - The total number of theoretical (gross) voting rights is 45,640,754, while the total number of exercisable (net) voting rights is 45,564,342 [1][3] - The calculation of voting rights includes shares with single or double voting rights and excludes shares without voting rights, such as treasury shares [3] Workforce and Innovation - The company employs 2,300 individuals from 50 different nationalities across its sites in Europe, the United States, and Asia [4] - Soitec has registered over 4,000 patents, showcasing its commitment to innovation [4]

Core Insights - Soitec and Powerchip Semiconductor Manufacturing Corporation (PSMC) have announced a strategic collaboration to develop ultra-thin Transistor Layer Transfer (TLT) technology for advanced 3D chip stacking [1][2] - The collaboration aims to enhance semiconductor designs, making chips more powerful, compact, and energy-efficient, with applications in smartphones, AI devices, and autonomous driving systems [3][4] Company Overview - Soitec is a leader in innovative semiconductor materials, generating sales of €0.9 billion in fiscal year 2024-2025 and holding over 4,000 patents [8] - PSMC is the seventh-largest pure-play foundry globally, with a production capacity of over 2.1 million 12-inch equivalent wafers annually and a new fab in Taiwan with a planned capacity of 1.2 million wafers [11] Technology Details - The TLT technology enables the stacking of multiple transistor layers vertically, supporting advanced 3D transistor architectures and optimizing power performance [5][6] - Soitec's TLT substrate utilizes Smart Cut™ technology and infrared laser release processing, allowing for ultra-thin semiconductor layers ranging from 5nm to 1µm [6] Collaboration Impact - The partnership reflects a commitment to advancing 3D integration and meeting the industry's demand for faster, more energy-efficient chips [4][7] - The collaboration builds on existing France-Taiwan initiatives in AI and semiconductor technologies, enhancing global cooperation in the sector [7]

Core Insights - Soitec has appointed Albin Jacquemont as the new Chief Financial Officer, effective immediately [2][4] - Jacquemont brings over 30 years of international financial leadership experience, having worked with various industrial and technology companies [3][6] - He will be responsible for all finance-related matters at the Group level, aiming to reinforce Soitec's financial and operational foundations [4][5] Company Overview - Soitec is a global leader in innovative semiconductor materials, generating sales of €0.9 billion in the fiscal year 2024-2025 [6] - The company serves three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI [6] - Soitec employs approximately 2,300 individuals from 50 different nationalities and has registered over 4,000 patents [6]

Core Insights - Soitec reported a high-single digit decline in full-year revenue for fiscal year 2025, closing at €891 million, down 9% from €978 million in fiscal year 2024, in line with revised guidance [3][21][22] - The company maintained a robust EBITDA margin of 33.5% and generated positive free cash flow of €26 million, despite the revenue decline [3][7][24] - Soitec is focusing on diversifying its product offerings beyond RF-SOI and Mobile Communications, with new products like POI and Photonics-SOI gaining traction [4][6] Financial Performance - Q4'25 revenue reached €327 million, stable at constant exchange rates compared to Q4'24, reflecting a 3% decline on a reported basis [7][8] - Full-year revenue for FY'25 was €891 million, down 9% both on a reported basis and at constant exchange rates [21][22] - The company recorded a current operating income of €136 million, down 35% from €208 million in FY'24, with a current EBIT margin of 15.2% [24][26] Product Segments - Mobile Communications revenue was €546 million in FY'25, down 11% year-on-year, primarily due to weaker RF-SOI volumes [21][22] - Automotive & Industrial revenue decreased by 21% to €129 million, driven by lower Power-SOI volumes amid ongoing automotive market challenges [21][22] - Edge & Cloud AI revenue increased by 6% to €216 million, supported by higher sales of Photonics-SOI wafers [23] Market Outlook - The company has suspended all previously issued guidance due to limited visibility and market uncertainties, opting to provide revenue guidance on a quarterly basis [5][35] - Q1'26 revenue is expected to decline by around 20% year-on-year, impacted by the phase-out of Imager-SOI [5][36] - Soitec anticipates its addressable market to grow from approximately 5 million wafers in 2024 to around 12 million by 2030, driven by technology megatrends such as 5G and AI [6][38] Cash Flow and Balance Sheet - Soitec generated a positive free cash flow of €26 million in FY'25, a significant improvement from a negative €43 million in FY'24 [29][30] - The company maintained a strong balance sheet with shareholders' equity of €1.6 billion as of March 31, 2025, up from €1.5 billion a year earlier [33][34] - Financial debt increased slightly to €782 million, with a net debt position of €94 million, reflecting a moderate level of leverage [34]

Company Overview - Soitec is a world leader in innovative semiconductor materials, with over 30 years of experience in developing cutting-edge products that deliver technological performance and energy efficiency [2] - The company generated sales of €1 billion in the fiscal year 2023-2024 [2] - Soitec serves three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI [2] - The company employs 2,300 individuals from 50 different nationalities across its sites in Europe, the United States, and Asia [2] - Soitec has registered over 4,000 patents, showcasing its commitment to innovation [2] Share Capital and Voting Rights - As of April 30, 2025, Soitec has a total of 35,727,041 ordinary shares with a par value of €2.00 each [3] - The total number of theoretical (gross) voting rights is 45,641,678, while the total number of exercisable (net) voting rights is 45,568,545 [1][3] - The gross voting rights include all shares with single or double voting rights, while net voting rights account for shares entitled to double voting rights and exclude shares without voting rights [3]

Revenue Performance - Solaris Power Solutions generated revenue from an average of approximately 390 megawatts (MW) of generation capacity in Q1 2025, with a forecast to increase to approximately 1,700 MW by the first half of 2027 [127]. - Total revenues for Q1 2025 were $126.3 million, a significant increase of $58.4 million compared to $67.9 million in Q1 2024, driven by a $49.4 million contribution from Solaris Power Solutions [135]. - Solaris Logistics Solutions revenues increased by $9.1 million, or 13%, to $77.0 million in Q1 2025, primarily due to a $11.7 million increase in last mile and ancillary services [135]. Cost and Expenses - The cost of revenue for Solaris Logistics Solutions increased by $11.3 million, or 28%, to $51.2 million in Q1 2025, with a cost of revenue as a percentage of revenue rising to 67% [137][138]. - Interest expense increased by $4.4 million to $5.2 million in Q1 2025, primarily due to higher borrowings and effective interest rates [143]. - Net cash used in investing activities was $144.3 million for the three months ended March 31, 2025, a significant increase from $3.3 million during the same period in 2024, primarily due to $142.0 million paid for turbines and ancillary equipment [160]. - Net cash used in financing activities totaled $24.5 million for the three months ended March 31, 2025, compared to $15.9 million in the same period of 2024, reflecting various payments including dividends and share cancellations [161]. Capital Expenditures and Financing - The company expects total capital expenditures of approximately $490 million in 2025, with $295 million expected to be provided by the Stateline joint venture [129]. - The company issued $155.0 million in convertible senior notes with a 4.75% interest rate, with $100.0 million restricted for capital expenditures to support Solaris Power Solutions [121]. - The formation of the Stateline joint venture involved a contribution of non-cash assets and pre-funded expenses valued at approximately $86.4 million for a 50.1% equity interest [120]. - The company completed a public offering of $155.0 million aggregate principal amount of 4.75% Convertible Senior Notes due 2030, with $100.0 million restricted for capital expenditures in the Solaris Power Solutions segment [150]. - Interest payments for the Convertible Senior Notes are estimated to total approximately $7.4 million over the next 12 months, with the first installment due on November 1, 2025 [150]. - The net proceeds from the Convertible Senior Notes offering were approximately $148.3 million after deducting underwriting discounts and commissions [154]. Liquidity and Cash Flow - The company’s liquidity sources include cash flows from operations and availability under a revolving credit facility, enhanced by recent developments such as the Stateline joint venture and convertible notes issuance [145]. - As of March 31, 2025, the company had cash and cash equivalents totaling $16.7 million, with projected operating cash flows and borrowing capacity expected to meet operational needs for the next 12 months [153]. - The company’s liquidity position is supported by cash reserves, projected operating cash flows, and borrowing capacity, ensuring adequate liquidity for operational needs including debt service obligations and purchase commitments [153]. - Net cash provided by operating activities increased to $25.7 million for the three months ended March 31, 2025, up from $16.9 million in the same period of 2024, representing an increase of 52.2% [159]. Shareholder Actions - The company authorized a share repurchase program with a limit of $50.0 million, having repurchased 4,272,127 shares for $34.6 million as of March 31, 2025, leaving $15.4 million remaining under the program [155]. - The company has short-term purchase commitments due within 12 months totaling $153.0 million and long-term commitments of $774.5 million, with $324.1 million scheduled for fulfillment in 2025 [151]. Taxation - The effective combined United States federal and state income tax rates were 23.2% for Q1 2025, compared to 20.3% for Q1 2024, reflecting changes in operating gains [144].

Company Overview - Soitec is a world leader in innovative semiconductor materials, with over 30 years of experience in developing cutting-edge products that deliver technological performance and energy efficiency [2] - The company generated sales of €1 billion in the fiscal year 2023-2024 [2] - Soitec serves three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI [2] - The company employs 2,300 individuals from 50 different nationalities across its sites in Europe, the United States, and Asia [2] - Soitec has registered over 4,000 patents [2] Share Capital and Voting Rights - As of March 31, 2025, Soitec has a total of 35,726,462 ordinary shares with a par value of €2.00 each [3] - The total number of theoretical (gross) voting rights is 45,641,575, while the total number of exercisable (net) voting rights is 45,567,342 [1][3]