Soitec — Earnings Release 2026

May 27, 2026

soitec

SOITEC REPORTS FISCAL 2026 FULL-YEAR RESULTS

DISCIPLINED EXECUTION AND RESTORED FREE CASH FLOW PAVE THE WAY FOR SUSTAINABLE, PROFITABLE GROWTH

• +25% sequential revenue growth in Q4'26 at constant currency and scope vs. Q3'26, exceeding the c. 20% guidance
• €592m revenue in FY26, down -34% year-on-year on a reported basis (-30% at constant currency and scope), reflecting ongoing customer inventory correction
• Strong momentum in Photonics-SOI, a powerful growth driver addressing surging AI data center demand, with revenue above $100m in FY26
• FY26 EBITDA¹ margin² at 25.4% with return to positive Free Cash Flow of €63m, demonstrating disciplined execution and tight working capital management
• Net debt / EBITDA ratio of 0.4x, underscores a robust balance sheet
• Strategically positioned for expansion; poised to exploit growth opportunities with continued focus on execution and financial discipline
• Q1'27 revenue expected up around 15% year-on-year, at constant currency and scope; Soitec working to reduce revenue seasonality
• FY27 Capex cash-out expected around €100m, vs. €135m in FY26

Bernin (Grenoble), France, May 27th, 2026 – Soitec (Euronext Paris), a world leader in the design and manufacturing of innovative semiconductor materials, today reported its consolidated revenue for the fourth quarter and full-year results for fiscal year 2026 (period ended March 31st, 2026).

¹ The EBITDA represents operating income before depreciation, amortization, impairment of non-current assets, non-cash items relating to share-based payments, provisions for impairment of current assets and for contingencies and expenses, and disposals gains and losses. EBITDA is not a financial indicator defined by IFRS and may not be comparable to EBITDA as reported by other groups. It represents additional information and should not be considered as a substitute for operating income or net cash generated by operating activities.

² EBITDA margin = EBITDA from continuing operations / Revenue.

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Laurent Rémont, CEO of Soitec, commented:

"In a challenging and uncertain environment, Soitec's FY26 performance reflects varied end-market dynamics and the Group's deliberate actions to restore cash generation. In this context, Soitec has remained focused on disciplined execution, restoring positive Free Cash Flow and strengthening its financial position, as necessary steps toward sustainable, profitable growth. Our Q4'26 showed sequential improvement over Q3'26, above guidance, with continued momentum in AI-driven activities, in particular Photonics-SOI, a key pillar of the Group's expansion into high-growth markets. Our priority, along with the team, is to build on these solid foundations with a clear commitment to value creation. I am confident that Soitec is well placed to thrive in a new chapter."

Q4'26 Revenue - Sequential improvement

Q4'26 revenue by end-market
	Q4'26	Q4'25	Q4'26/Q4'25
			change reported	chg. at const. FX & scope
(Euros millions)
Mobile Communications	100	220	-54%	-52%
Edge & Cloud AI	64	63	+2%	+6%
Automotive & Industrial	38	45	-16%	-12%
Revenue	202	328	-38%	-36%

Soitec revenue reached €202 million in Q4'26, down -38% on a reported basis and -36% at constant currency and scope, year-on-year. The decrease was primarily driven by lower volumes amid ongoing customer RF-SOI inventory correction and automotive market weakness, as well as a negative mix/price effect, partially offset by strong traction in AI markets.

Revenue improved sequentially in Q4'26, boosted by seasonal demand factors, with $25\%$ growth vs. Q3'26 at constant currency and scope, above the initial guidance of around $20\%$ .

Performance was mixed across end-markets. Mobile Communications continues to face RF-SOI customer inventory correction in a declining smartphone market, while subdued Automotive & Industrial revenue reflects end-market weakness. AI commercial momentum remains strong, driven by increasing Photonics-SOI penetration in high-speed pluggable transceivers and growing volumes shipped for copackaged optics (CPOs) industry qualifications, in preparation for the upcoming ramp-up.

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Mobile Communications (c. 50% of total Q4'26 revenue) - Ongoing volume impact from customer RF-SOI destocking; POI adoption gains momentum

Mobile Communications revenue came in at €100 million in Q4'26, down -52% year-on-year at constant currency and scope. A significant volume decline, reflecting customer destocking, was accompanied by a slightly positive mix effect.

RF-SOI sales declined year-on-year amid ongoing customer inventory reduction. The correction is unfolding in line with our expectations, although inventories remain high. In this context, Soitec is strengthening its technological differentiation, continuing to serve as an industry standard.

POI (Piezoelectric-on-Insulator) sales grew both year-on-year and sequentially, as Tier-1 US fabless adoption continued to offset softer demand in Asia. POI is gaining further traction in advanced SAW filters for 5G smartphones, with medium-term visibility enhanced by the long-term agreement recently signed with Skyworks, reinforcing POI's positioning as a key substrate for next-generation architectures.

FD-SOI sales remained subdued, while showing continued progress in adoption, supported by key design wins in next-generation connectivity solutions. 5G mmWave applications continued to progress, supported by the major win secured last quarter for US flagship smartphones, and reflecting sustained customer engagement.

Edge & Cloud AI (c. 32% of total Q4'26 revenue) - Positive momentum from AI applications

Edge & Cloud AI revenue reached €64 million in Q4'26, up +6% year-on-year at constant currency and scope. This increase reflects a positive volume effect.

Photonics-SOI sales recorded strong growth year-on-year, supported by sustained investment in cloud infrastructure for AI applications. Momentum was driven by increasing adoption of silicon photonics solutions for high-speed, high-bandwidth optical transceivers.

Photonics-SOI remains a prime growth engine and a key pillar of the Group's increasing exposure to AI-related markets. Demand is supported by structural adoption of optical interconnects in next-generation data center architectures. Soitec's ability to deliver high-end and differentiated products to AI infrastructure value chain supports the Group's strong position in pluggable transceivers and growing traction from co-packaged optics architectures.

FD-SOI sales were broadly stable year-on-year, with an unfavorable comparison basis, and underlying adoption momentum remains strong. FD-SOI technology remains a key enabler for AI embedded consumer, industrial, and healthcare IoT applications, offering unique advantages in power efficiency, performance, thermal management and reliability. Strong customer appetite, supported by a long-term agreement with a key customer, secures important visibility for the Group.

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Automotive & Industrial (c. 19% of total Q4'26 revenue) - Customers managing inventories in soft demand environment

Automotive & Industrial revenue came to €38 million in Q4'26, down -12% year-on-year at constant currency and scope compared with Q4'25. The decline primarily reflects continued end-market weakness and customer inventory levels exceeding historical averages across the supply chain. Until we see clear signs of end market recovery and customer inventory normalization, Soitec automotive momentum should remain subdued.

Sales of Power-SOI, used in smart power management for electric vehicles, declined in Q4'26 on a year-on-year basis, reflecting continued end-market weakness and cautious ordering patterns. Delivery phasing under a long-term agreement with a key customer results in a volume and revenue concentration in Q4.

Sales of FD-SOI were broadly stable year-on-year, driven by growing volumes for Auto grade MCUs. Looking ahead, as ADAS adoption scales, the technology is proving critical for analog and mixed-signal demands of radars and microcontrollers, allowing next-generation vehicles to perceive and respond to their environment with superior power efficiency. FD-SOI is redefining automotive radar performance, enabling the fusion of precision sensing with AI processing at the edge.

FY26 consolidated revenue - Volume-driven decline with contrasted end-market dynamics

FY26 revenue by end-market	FY26	FY25	FY26 / FY25
(Euros millions)			change reported	chg. at const. FX & scope
Mobile Communications	309	546	-43%	-41%
Edge & Cloud AI	214	216	-1%	+8%*
Automotive & Industrial	69	129	-47%	-44%
Revenue	592	891	-34%	-30%

*Edge & Cloud AI up +19% excluding Imager-SOI

Consolidated annual revenue came to €592 million in FY26, down -34% year-on-year as reported. This breaks down into a -30% decline at constant currency and scope, with a -1% scope effect and a -3% currency impact.

The full-year performance reflects a contraction in volumes, in an environment that remains contrasted across end-markets. Strong Edge & Cloud AI revenue growth, driven by an increasing Photonics-SOI contribution, was offset by weaker revenue from Mobile Communications and Automotive & Industrial.

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Mobile Communications revenue came in at €309 million in fiscal year 2026, down -41% year-on-year at constant currency and scope. The decline was mainly driven by lower RF-SOI volumes, in line with the continued correction of customer inventory levels throughout the year.

Edge & Cloud AI revenue reached €214 million in fiscal year 2026, up +8% year-on-year at constant currency and scope. Excluding Imager-SOI, Edge & Cloud AI revenue was up +19% year-on-year at constant currency and scope. This evolution reflects positive volume and product mix dynamics, notably in photonics-related activities, as well as the contribution of FD-SOI in Edge AI applications. Strong Photonics-SOI growth momentum continues, with revenue rising above $100 million in FY26, earlier than initially anticipated, marking an important step in Soitec's expansion into high-growth AI data center architectures.

Automotive & Industrial revenue came in at €69 million in fiscal year 2026, down -44% year-on-year at constant currency and scope. The decline was primarily driven by lower volumes in a subdued market environment, compounded by excess customer inventory.

While AI tailwinds are supporting our entire portfolio, FD-SOI and Photonics-SOI stand out as direct AI-enablers, delivering a combined year-on-year increase of +25%. These technologies directly address critical levels of the AI infrastructure: high-speed data centers and power-sensitive embedded processing, notably in IoT and wearables. This performance underscores accelerated demand in AI and the industry's shift toward a hybrid architecture, positioning Soitec as a central enabler of seamless processing from the high-performance Cloud to the energy-efficient Edge.

FY26 profitability impacted by inventory reduction in a challenging environment

Consolidated income statement (part 1)

(Euros millions)	FY26	FY25	% change
Revenue	592	891	-34%
Gross profit	96	286	-66%
As a % of revenue	16.3%	32.1%
Net research and development expenses	(45)	(85)	-47%
Selling, general and administrative expenses	(59)	(65)	-10%
Current operating income / (loss)	(8)	136
As a % of revenue	(1.3)%	15.2%
Other operating expenses	(123)	(16)
Operating income / (loss)	(131)	119
EBITDA1	151	298	-49%
As a % of revenue	25.4%	33.5%

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Gross profit came in at €96 million (16.3% of revenue), down from €286 million in FY25 (32.1% of revenue). This decline primarily reflects:

• A deliberate reduction in production levels to align with our inventory-reduction objectives and end-market demand;
• an unfavorable price/mix environment;
• a negative currency impact;
• lower sales volumes, notably in RF-SOI, amid continued customer inventory correction.

These effects were partially offset by continued cost discipline and industrial efficiency measures.

Current operating result came in at a loss of €8 million in FY26, compared with a positive €136 million in FY25, mainly reflecting the decline in gross profit, partially offset by reduced operating expenses.

• Net R&D expenses decreased to €45 million (7.6% of revenue) from €85 million (9.5%). Gross R&D costs before capitalization decreased 25% to €114 million, largely resulting from reduced procurement of raw materials and the discontinuation of costs relating to Dolphin Design, divested in FY25. The Group continued to benefit from higher subsidies and research tax credits, while protecting focused innovation to support future profitable growth;
• SG&A expenses decreased to €59 million (10.0% of revenue) from €65 million (7.3%), reflecting continued strict cost discipline, including lower variable compensation and share-based payments, as well as the divestment of Dolphin Design.

Other operating expenses totaled €123 million, mainly reflecting €105 million of non-recurring impairment charges, including €41 million related to SmartSiC™ assets, €29 million on the Pasir Ris extension in Singapore, the impairment of long-term supplier advances and an earn-out loss related to the Dolphin Design disposal. As a result, Soitec recorded an operating loss of €131 million in FY26, compared with positive operating income of €119 million in FY25.

EBITDA¹ declined to €151 million in FY26 from €298 million in FY25. The EBITDA margin² decreased to 25.4% of revenue (33.5% in FY25). The margin erosion was contained by strict cost discipline and operational adjustments implemented throughout the year.

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Consolidated income statement (part 2)

(Euros millions)	FY26	FY25
Operating income / (loss)	(131)	119
Net financial result / (loss)	(31)	(9)
Income tax	(61)	(19)
Net profit / (loss) from continuing operations	(222)	91
Net profit from discontinued operations	2	1
Net profit / (loss), Group share	(220)	92
Current net profit / (loss)³	(14)	109
Basic earnings per share (in €)	(6.17)	2.57
Diluted earnings per share (in €)	(6.17)	2.56
Current earnings³ per share (in €)	(0.38)	3.07
Weighted average number of ordinary shares	35,674,488	35,670,651
Weighted average number of diluted ordinary shares	35,674,488	35,868,688

The net financial result was a loss of €31 million in FY26 (compared with a loss of €9 million in FY25), reflecting €23 million of interest expenses and a €17 million one-off foreign exchange loss recorded in Q1'26, mainly resulting from the revaluation of balance sheet foreign exchange exposure in relation to US dollar depreciation, partly offset by €13 million of financial income. Previous company policy was to protect the income statement against foreign exchange exposure; following a comprehensive review, balance sheet foreign exchange exposure is now hedged.

Income tax expense came in at €61 million in FY26, compared with €19 million in FY25, mainly reflecting the decrease in recognized deferred tax assets relating to loss carryforwards.

The current net result³ was a loss of €14 million in FY26, compared with a profit of €109 million in FY25, mainly as a result of the deterioration in operating income, non-recurring impairment charge of €105m and higher financial expenses.

The net result (Group share) was a loss of €220 million in FY26, compared with a profit of €92 million in FY25.

³ Current net profit / (loss) reflects net profit / (loss) (Group share), excluding significant one-off events during the period that could skew analysis of the Group's recurring performance. Current basic earnings / (loss) per share corresponds to current net profit/(loss) divided by the weighted average number of shares.

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Positive Free Cash Flow achieved through disciplined Working Capital and Capex management

Consolidated cash-flows

(Euros millions)	FY26	FY25
Continuing operations
EBITDA¹	151	298
Inventories	24	(47)
Trade receivables	145	(30)
Trade payables	(122)	(6)
Other receivables and liabilities	1	4
Change in working capital	49	(79)
Tax paid	3	(17)
Net cash generated by operating activities	202	202
Capital expenditure	(135)	(230)
Net interest and other financial expenses	(4)	5
Free Cash Flow	63	(23)

Free Cash Flow returned to a positive €63 million in FY26, compared with a negative €23 million in FY25, marking a key milestone in the Group's financial roadmap in a challenging market environment.

Operating cash flow came in at €202 million, stable year-on-year, as the impact of lower EBITDA¹ was offset by reduced working capital and lower tax payments.

The change in working capital was driven by a combination of proactive management actions and activity-related effects, resulting in:

• €71 million year-on-year improvement in the inventory contribution to working capital;
• €175 million year-on-year improvement in the trade receivables contribution to working capital;
• €116 million year-on-year deterioration in the trade payables contribution to working capital, reflecting lower activity.

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Capital expenditure was down -41% year-on-year at €135 million, as the Group pursued a more targeted investment framework, following several years of capacity expansion, focused mainly on addressing the market opportunities in Photonics-SOI and POI. Capex moderation, combined with strict working capital management, was a key contributor to restoring a positive Free Cash Flow.

This performance demonstrates the Group's ability to act decisively to improve operational execution and cash generation, laying the foundations for sustainable and profitable growth.

Robust balance sheet and strong liquidity profile

Soitec maintained a solid balance sheet as of March 31st, 2026, supported by restored Free Cash Flow generation and a disciplined financial execution.

Gross financial debt totaled €620 million, reflecting the full repayment of €325 million of OCEANE 2025 convertible bonds, partly offset by the issuance of a €222 million Schuldschein loan.

Cash and cash equivalents stood at €562 million at the end of FY26, maintaining a strong liquidity position. Net financial debt decreased to €56 million, compared with €94 million a year earlier, reflecting the positive Free Cash Flow generation.

The Group maintains a well-balanced debt maturity profile, with an average maturity of 3.7 years, a 3.07% average cost of debt and €120 million of undrawn credit lines, providing significant financial flexibility.

The net debt-to-EBITDA¹ ratio stood at 0.4x, underscoring the Group's sound financial structure and its capacity to support future profitable growth.

FY27 Outlook

Soitec expects Q1'27 revenue up around 15% at constant currency and scope year-on-year, in part reflecting actions to reduce seasonality. Sequential improvement throughout the rest of FY27 is therefore expected to be less pronounced than in previous years.

Photonics-SOI momentum is accelerating and we are mobilizing our industrial footprint to address growing customer demand and volume ramp-up. The trajectory remains shaped by multiple possible outcomes; we are managing that uncertainty with ambition, flexibility and discipline.

Soitec has hedged approximately 95% of its FY27 foreign exchange net exposure at an average rate of 1.19 €/$.

4 Net debt corresponds to financial liabilities, excluding liabilities relating to virtual power purchase agreements (VPPAs), less cash and cash equivalents.

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FY27 profitability is expected to be impacted by low fab loading, FX and lower funding.

FY27 Capex cash-out is expected to be around €100 million, compared to €135 million in FY26, reflecting a disciplined and selective investment approach.

Soitec remains focused on executing on its key operational levers, including product portfolio expansion and cost structure adaptation, while maintaining strict control over working capital and Capex. Upon completion of RF-SOI customer inventory correction, these actions are expected to position the Group for margin expansion and improved cash conversion, and the resumption of a sustainable, profitable growth trajectory.

Key events of Q4'26

Soitec and NSIG agree extension of licensing framework

On March 13th, 2026, Soitec and Shanghai-based National Silicon Industry Group Co., Ltd. (NSIG) agreed to a 10-year extension to their manufacturing and commercial licensing framework, in response to growing Chinese demand for Soitec SOI products and technologies.

The agreement with NSIG subsidiaries Simgui and Simwings extends the existing licensing framework underpinning their long-standing partnership, with no new technology transfer and a joint commitment to strengthen Soitec's SOI intellectual property rights in China. It reinforces Soitec's position in China's fast-growing engineered substrates market.

Soitec Secures Multi-Year Agreement to Supply POI Wafers for Skyworks' Sky5 Platform

On March 5th, 2026, Soitec announced a multi-year agreement to secure volume production of state-of-the-art Piezoelectric-on-Insulator (POI) wafers for Skyworks Solutions. This agreement extends the long-standing relationship between the companies and ensures a reliable, long-term wafer supply to support Skyworks' future needs.

Under the agreement, Soitec will provide POI wafers for Skyworks' Sky5 platform to address the demanding RF requirements of today's 5G smartphones. Well-suited for high-volume manufacturing, the technology offers compactness, robustness, and compatibility with advanced packaging and assembly flows for Front-End modules. Soitec POI provides the breakthrough performance necessary to ensure seamless advanced coexistence in increasingly dense signal environments up to 3+ GHz.

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Key post-closing events

Laurent Rémont took office as Soitec CEO on April 1st

Following a transition period that began in mid-March, Laurent Rémont officially succeeded Pierre Barnabé as CEO of Soitec on April 1st, 2026.

His international career reflects his deep expertise in technologies and markets that are key to Soitec, such as mobile communications, automotive and artificial intelligence. He also brings extensive experience in managing technological and industrial activities.

This appointment demonstrates the Board of Directors' intent to pursue the Group's development, building on the foundations laid in recent years, to enhance the value of its diversified product and technology portfolio, particularly around artificial intelligence, and seize semiconductor market opportunities.

Proposed appointment of Didier Fontaine as an independent director

Upon recommendation of the Compensation, Nominations and Board Governance Committee, the Board of Directors will submit the following proposals to a shareholder vote at the Annual General Meeting of July 29th, 2026:

• The appointment, for a three-year term, of Laurent Rémont, Chief Executive Officer, as a non-independent director and of Didier Fontaine as an independent director, replacing Maude Portigliatti, whose term of office will expire at the close of the upcoming Annual General Meeting;
• The reappointments, for a three-year term, of Christophe Gégout and Delphine Segura Vaylet, as independent directors.

Subject to shareholder approval of their appointments, Laurent Rémont will join the Strategic Committee, and Didier Fontaine will join the Audit and Risks Committee as well as the Strategic Committee. Christophe Gégout will continue to chair the Audit and Risks Committee until April 19th, 2027, and Delphine Segura Vaylet will continue to chair the Compensation, Nominations and Board Governance Committee. Both will also continue to serve on the Strategic Committee and the Sustainability Committee.

Didier Fontaine is Chief Operating Officer of the IDEMIA group, in charge of Finance, Legal, Strategy, M&A, IT, and Purchasing. He brings over 25 years of executive experience within major international groups, notably in Chief Financial Officer roles at Plastic Omnium (now OPmobility), Constellium, Zodiac Aerospace, and Verallia Packaging. He also brings capital markets and investor relations experience, gained notably through Constellium's IPO on the New York Stock Exchange and Verallia's IPO on Euronext.

His appointment will strengthen the Board's expertise in financial oversight, while bringing complementary experience in strategic transformation within international industrial and technological groups. The Board of Directors would like to thank Maude Portigliatti for her contribution to the Board's work throughout her term.

Following the Annual General Meeting and subject to the adoption of the corresponding resolutions, the Board of Directors of Soitec would be composed of 13

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members, including the Chief Executive Officer, 7 independent directors, 5 women, and 2 directors representing the employees.

All resolutions submitted to a shareholder vote, as well as detailed information regarding Soitec's governance, will be presented in the Company's 2025-2026 Universal Registration Document, which will be filed with the AMF on June 10th, 2026.

FY26 results will be presented during an analyst and investor meeting in Paris on May 28th, 2026, at 2pm CET. The meeting will be held in English.

The live webcast will be available on: https://soitec.engagestream.euronext.com/20260528-full-year-2026

The investor presentation is available for download on: https://www.soitec.com/home/investors/full-year-results-of-fiscal-year-2025---2026

2026 Annual General Meeting

At its meeting today, the Board of Directors decided to convene the Annual General Meeting of shareholders on July 29th, 2026.

Q1'27 Revenue

Q1'27 Revenue is due to be published on July 28th, 2026, after market close.

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Disclaimer

This document is provided by Soitec (the "Company") for information purposes only.

The Company's business operations and financial position are described in the Company's Universal Registration Document (which notably includes the Annual Financial Report). The 2025-2026 Universal Registration Document will be filed on June 10th, 2026, with the French stock market authority (Autorité des Marchés Financiers, or AMF). The French versions of the 2025-2026 Universal Registration Document, together with English courtesy translation for information purposes, will be available for consultation on June 10th, 2026, on the Company's website (www.soitec.com), in the section Investors - Regulated information - Financial Reports.

Your attention is drawn to the risk factors described in Chapter 2.1 (Risk factors and controls mechanism) of the Company's Universal Registration Document.

This document contains summary information and should be read in conjunction with the Universal Registration Document.

This document contains certain forward-looking statements. These forward-looking statements relate to the Company's future prospects, developments and strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. By their nature, forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward-looking statements are not a guarantee of the Company's future performance. The occurrence of any of the risks described in Chapter 2.1 (Risk factors and controls mechanism) of the Universal Registration Document may have an impact on these forward-looking statements.

The Company's actual financial position, results and cash flows, as well as the trends in the sector in which the Company operates may differ materially from those contained in this document. Furthermore, even if the Company's financial position, results, cash-flows and the developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such elements cannot be construed as a reliable indication of the Company's future results or developments.

The Company does not undertake any obligation to update or make any correction to any forward-looking statement in order to reflect an event or circumstance that may occur after the date of this document.

This document does not constitute or form part of an offer or a solicitation to purchase, subscribe for, or sell the Company's securities in any country whatsoever. This document, or any part thereof, shall not form the basis of, or be relied upon in connection with, any contract, commitment or investment decision.

Notably, this document does not constitute an offer or solicitation to purchase, subscribe for or to sell securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from the registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Company's shares have not been and will not be registered under the Securities Act. Neither the Company nor any other person intends to conduct a public offering of the Company's securities in the United States.

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About Soitec

Soitec (Euronext - Tech Leaders - SBF 120), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated revenue of 600 million euros in fiscal year 2025-2026. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI. The company relies on the talent and diversity of nearly 2,000 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Nearly 4,800 patents have been registered by Soitec.

Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

For more information: https://www.soitec.com/en/ and follow us on X: @Soitec_Official

Investor Relations:
investors@soitec.com

Media Relations:
media@soitec.com

Financial information and consolidated financial statements in appendix include:

• Consolidated revenue per quarter
• FY26 consolidated income statement
• Balance sheet at March 31st, 2026
• FY26 consolidated cashflows

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Consolidated revenue per quarter

Quarterly revenue	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	FY25	FY26
(Euros millions)
Mobile Communications	48	124	154	220	43	76	90	100	546	309
Edge & Cloud AI	46	61	47	63	44	52	54	64	216	214
Automotive & Industrial	26	33	25	45	5	11	16	38	129	69
Revenue	120	218	226	328	92	139	160	202	891	592
Change in quarterly revenue	Q1'26/Q1'25		Q2'26/Q2'25		Q3'26/Q3'25		Q4'26/Q4'25		FY26 / FY25
(Change vs. previous year)	Reported	Cst. FX & scope	Reported	Cst. FX & scope	Reported	Cst. FX & scope	Reported	Cst. FX & scope	Reported	Cst. FX & scope
Mobile Communications	-12%	-7%	-38%	-39%	-42%	-36%	-54%	-52%	-43%	-41%
Edge & Cloud AI	-4%	+13%	-14%	-9%	+15%	+27%	+2%	+6%	-1%	+8%
Automotive & Industrial	-82%	-81%	-68%	-68%	-37%	-32%	-16%	-12%	-47%	-44%
Revenue	-24%	-16%	-36%	-36%	-29%	-22%	-38%	-36%	-34%	-30%

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Consolidated financial statements for FY26

Consolidated income statement

| (Euros millions) | FY26
(ended
March 31st, 2026) | FY25
(ended
March 31st, 2025) |
| --- | --- | --- |
| Revenue | 592 | 891 |
| Cost of sales | (496) | (605) |
| Gross profit | 96 | 286 |
| Net research and development expenses | (45) | (85) |
| General, sales and administrative expenses | (59) | (65) |
| Current operating income / (loss) | (8) | 136 |
| Other operating expenses | (123) | (16) |
| Operating income / (loss) | (131) | 119 |
| Financial income | 13 | 19 |
| Financial expenses | (43) | (28) |
| Net financial expense | (31) | (9) |
| Profit before tax | (161) | 110 |
| Income tax | (61) | (19) |
| Net profit from continuing operations | (222) | 91 |
| Net profit from discontinued operations | 2 | 1 |
| Consolidated net profit | (220) | 92 |
| Net profit, Group share | (220) | 92 |
| Current net profit / (loss)³ | (14) | 109 |
| Basic earnings per share (in €) | (6.17) | 2.57 |
| Diluted earnings per share (in €) | (6.17) | 2.56 |
| Current earnings³ per share (in €) | (0.38) | 3.07 |
| Weighted average number of ordinary shares | 35,674,488 | 35,670,651 |
| Weighted average number of diluted ordinary shares | 35,674,488 | 35,868,688 |

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Balance sheet

Balance sheet as of March 31st, 2025 has been restated. In accordance with IAS 8, Soitec has retrospectively reclassified certain consigned raw materials as inventories, with a corresponding amount recorded as trade payables, to reflect the transfer of control upon receipt at its sites.

Assets	March 31st, 2026	March 31st, 2025	Restatement	March 31st, 2025 published
(Euros millions)
Non-current assets
Intangible assets	94	130	-	130
Property, plant and equipment	893	1,003	-	1,003
Non-current financial assets	20	30	-	30
Other non-current assets	42	73	-	73
Deferred tax assets	6	59	-	59
Total non-current assets	1,056	1,295	-	1,295
Current assets
Inventories	220	268	37	231
Trade receivables	280	463	-	463
Other current assets	160	124	-	124
Current financial assets	3	7	-	7
Cash and cash equivalents	562	688	-	688
Total current assets	1,225	1,549	37	1,512
Total assets	2,282	2,844	37	2,807

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Equity and liabilities	March 31^{st}, 2026	March 31^{st}, 2025	Restatement	March 31^{st}, 2025 published
(Euros millions)
Equity
Share capital	72	71	-	71
Share premium	228	228	-	228
Reserves and retained earnings	1,059	1,280	-	1,280
Other reserves	(32)	15	-	15
Equity-Group share	1,327	1,595	-	1,595
Total equity	1,327	1,595	-	1,595
Non-current liabilities
Non-current financial debt	517	375	-	375
Provisions and other non-current liabilities	122	94	-	94
Total non-current liabilities	639	469	-	469
Current liabilities
Current financial debt	103	406	-	406
Trade payables	53	190	37	153
Provisions and other current liabilities	160	185	-	185
Total current liabilities	315	780	37	743
Total equity and liabilities	2,282	2,844	37	2,807

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Consolidated cash flows

| (Euros millions) | FY26
(ended
March 31st, 2026) | FY25
(ended
March 31st, 2025) |
| --- | --- | --- |
| Consolidated net profit | (220) | 92 |
| of which continuing operations | (222) | 91 |
| Depreciation and amortization expense | 138 | 140 |
| Impairment / (reversals of impairments) assets | 105 | - |
| Provision expense / (reversals), net | 24 | 6 |
| Provisions expense / (reversals) for retirement benefit obligations, net | 1 | 0 |
| (Gains) / losses on disposals of assets | 7 | 15 |
| Income tax | 61 | 19 |
| Net financial expense | 31 | 9 |
| Share-based payments | (1) | 11 |
| Other non-cash items | 7 | 7 |
| Non-cash items related to discontinued operations | (2) | (1) |
| EBITDA¹ | 151 | 298 |
| of which continuing operations | 151 | 298 |
| Inventories | 24 | (47) |
| Trade receivables | 145 | (30) |
| Trade payables | (122) | (6) |
| Other receivables and payables | 1 | 4 |
| Income tax received / (paid) | 3 | (17) |
| Changes in working capital and income tax paid related to discontinued operations | 0 | (0) |
| Change in working capital and income tax paid | 52 | (96) |
| of which continuing operations | 52 | (96) |
| Net cash generated by operating activities | 202 | 201 |
| of which continuing operations | 202 | 202 |

19

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Consolidated cash flows (continued)

| (Euros millions) | FY26
(ended
March 31st, 2026) | FY25
(ended
March 31st, 2025) |
| --- | --- | --- |
| Net cash generated by operating activities | 202 | 201 |
| of which continuing operations | 202 | 202 |
| Purchases of intangible assets | (13) | (27) |
| Purchases of property, plant and equipment | (115) | (172) |
| Interest received | 13 | 19 |
| Disposals / (acquisitions) of financial assets | 0 | 4 |
| Divestment flows related to discontinued operations | 0 | 1 |
| Net cash used in investing activities | (114) | (176) |
| of which continuing operations | (115) | (176) |
| Loans and drawdowns on credit lines | 222 | 45 |
| Repayment of OCEANE 2025 | (325) | - |
| Repayment of borrowings and lease liabilities | (84) | (81) |
| Interest paid | (16) | (14) |
| Change in interest in subsidiaries without change of control | - | (1) |
| Financing flows related to discontinued operations | (0) | (0) |
| Net cash used by financing activities | (204) | (50) |
| of which continuing operations | (204) | (50) |
| Effects of exchange rate fluctuations | (10) | 4 |
| Net change in cash | (126) | (21) |
| of which continuing operations | (126) | (21) |
| Cash at beginning of the period | 688 | 708 |
| Cash at end of the period | 562 | 688 |

20