(Reuters) – Soitec reported on Tuesday a turnover dropped by 16% at constant perimeter and changes in the first quarter, to 92 million euros, slightly below the expectations of analysts who tabled on 93 million euros according to a consensus Vara Research.
The turnover of the French automotive & industry division of the French group has an organic decline of 81% in the quarter, “in an automotive market which remains complicated”.
The Edge & Cloud AI division recorded an organic turnover of 13% while the mobile communications division has an organic withdrawal of 7%.
The French supplier of semiconductor materials, which announced in May that it will now only provide turnover prospects on a quarterly basis, said an organic growth of around 50% in the second quarter, compared to the first quarter.
This early resumption of growth in the second quarter will, according to the group, be carried by the Edge & Cloud AI division, which should maintain its strong dynamic, and by the turnover of the mobile communications division, which should almost double compared to the first quarter.
Soitec stresses, however, that revenues from the automotive & industry division should be down sharply over a year in the second quarter.
(Written by Etienne Breban, edited by Augustin Turpin)
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