IQE H1 EBITDA up 6%

Author: EIS Release Date: Sep 14, 2022

IQE reported H1 EBITDA of  of £12.3 million up 6% from 2021’s £11.6 million on revenue up 8.4% y-o-y at £86.2 million and an operating loss of £7.4 million compared to the H1 2021 loss of  £1.9 million.

 

Wireless revenue was £46.6 million (H1 2021: £41.6m) up 12.0%.

 

Photonics revenue was £38.5m (H1 2021: £36.4m) up 5.7%.

 

CMOS++ revenue was £1.1m (H1 2021: £1.5m) down 27.2%.

 

Adjusted cash inflow  was £8.3 million (H1 2021: £9.1m)

 

Total net cash capex and cash investment in intangibles is £3.5 million (H1 2021: £8.1 million).

 

£3.8 million was invested investment in PP&E capex related to tool investments in Taiwan.

 

£4.1 million was raised from the disposal of assets related to the Singapore site closure

 

Purchases of intangibles of £2.3 million primarily relate to ongoing systems transformation programme.

 

There is ongoing investment in R&D with £1.6m (H1 2021: £1.8m) of development costs capitalised in the period.

 

The company has adjusted net debt of £6.7 million as at 30 June 2022 (net debt of £5.8 million as at 31 Dec 2021, net funds of £0.9 million as at 30 June 2021).

 

“The importance of compound semiconductors to a series of fundamental mega trends which will shape the global economy is gaining increasing recognition,” says CEO Americo Lemos.