Equity Snap: Soitec SA (SOI FP): Positive preannouncement driven by photonics demand

研报英文原文证据摘录

Equity Snap: Soitec SA (SOI FP): Positive preannouncement driven by photonics demand

22 July 2026

Equity Snap: Soitec SA (SOI FP) Equities Semiconductors & Equipment

Positive preannouncement driven by photonics

demand France

◆ Jun-Q positively preannounced with revenues ahead Adithya Metuku*, CFA

Senior Global Technology Analyst

◆ Sep-Q outlook ahead, driven by photonics SOI demand HSBC Bank plc

adithya.metuku@hsbc.com

+44 203 268 2960

◆ Expect additional colour on conf call at 8am UKT tomorrow

Kalpesh Mahadik*, CFA

Associate

Bangalore

Soitec SA (SOI FP, EUR95.48, Hold, TP EUR173.00)

(Priced as of 21 Jul 2026)

* Employed by a non-US affiliate of HSBC Securities (USA) Inc, and is

Jun-Q positive preannouncement: Soitec reported Jun-Q revenue of EUR113m, up not registered/ qualified pursuant to FINRA regulations

23% YoY and 5%/6% ahead of HSBCe/VA consensus. Within this, Mobile

Communications revenue came in at EUR39m, 45% ahead of HSBCe but 7% below

consensus - RF-SOI and POI products were stable but FD-SOI revenues declined on a

YoY basis. Auto and Industrial revenues came in at EUR10m, 56%/15% below

HSBCe/consensus as inventory corrections continued at certain customers. Edge &

Cloud AI revenues came in at EUR65m, 13%/22% ahead of HSBCe/VA consensus,

driven by Photonics-SOI solutions and drove the top line beat.

Sep-Q revenue outlook ahead: Soitec noted that it has seen a further acceleration in

customer demand for Photonics-SOI in the September quarter while it continues to raise

production capacity. Soitec expects Sep-Q revenue to be up more than 30% YoY (at

constant currency and scope), notably sustained by an acceleration in Photonics-SOI

demand.

Demand commentary: Soitec notes that it expects Photonics-SOI FY27 revenue to