March 4, 2020 / 8:05 AM / a month ago

BRIEF-Soitec Confirms Its FY 2020 Guidance

March 4 (Reuters) - SOITEC SA:

* SOITEC CONFIRMS ITS FY’20 GUIDANCE

* IT HAS NOT EXPERIENCED ANY SIGNIFICANT IMPACT OF CORONAVIRUS (COVID-19) OUTBREAK ON ITS OPERATIONS

* SOITEC CONTINUES TO EXPECT FY’20 SALES TO GROW BY AROUND 30% AT CONSTANT EXCHANGE RATES AND PERIMETER

* ABOUT CORONAVIRUS: AS OF MARCH 4(TH), 2020, NO EMPLOYEE CASE HAS BEEN REPORTED GLOBALLY AND ALL PERSONNEL IS SAFE

* ALSO CONFIRMS EXPECTING ITS ELECTRONICS EBITDA MARGIN TO REACH AROUND 30% BASED ON A EURO / DOLLAR EXCHANGE RATE OF 1.13

* BOTH BERNIN (FRANCE) AND SINGAPORE PLANTS ARE CURRENTLY OPERATING WITHOUT SUFFERING ANY DISCONTINUITY

* REGARDING SIMGUI (SOITEC’S MANUFACTURING PARTNER IN SHANGHAI), THERE HAS BEEN NO SIGNIFICANT IMPACT OF OUTBREAK ON PRODUCTION

* GUIDANCE IS SUPPORTED BY STRONG LEVEL OF SALES EXPECTED IN Q4, WHICH GROUP WILL BE ABLE TO SUPPLY THANKS TO ANTICIPATED MANUFACTURING DONE OVER PAST QUARTERS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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