Business
IQE plc: Capital Markets Day
IQE plc: Capital Markets Day.
About this update from Iqe Plc
[{"type":"text","content":"\n \n \n \n IQE plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n Cardiff, UK\n \n \n 9 November 2022\n \n \n \n \n \n \n \n \n \n Capital Markets Day\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n IQE plc (AIM: IQE, \"IQE\" or the \"Group\"),\n the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry\n , is hosting a Capital Markets Day this afternoon where management will set out the Group's future growth strategy.\n \n \n At the core of IQE's refreshed strategy are the following guiding principles: we are market led; we will capture value for what we do; and we will scale and grow our business.\n \n \n We will achieve this success by using our world-leading capabilities to deliver solutions to our customers that connect, power, sense and display across the following three growth markets:\n \n \n 1) Smart connected devices\n \n \n 2) Communications infrastructure\n \n \n 3) Automotive and industrial\n \n \n The global epiwafer market is forecast to grow by 22% CAGR to $4.6bn in 2027*, and IQE will continue to focus on its existing markets, related to Wireless and Photonics, while diversifying into power electronics and microLED display markets.\n \n \n IQE is now targeting growth of 3x anticipated revenues in 2022 in five years' time. This represents a target of ~$650m revenue in 2027. This growth is underpinned by strategic long-term agreements, long-term commitments both to and from IQE's customers, and a collaborative approach to co-investment alongside its customers. The Group intends to invest alongside its customers both tactically, for R&D to develop new products, and strategically, tripling reactor capacity to facilitate mass production and the achievement of economies of scale. This collaborative approach to both R&D and manufacturing investment reduces the Group's technical and financial risk whilst helping to maintain its leading edge technology advantage.\n \n \n Growth is targeted to be delivered across each product capability by 2027:\n \n \n \n \n \n \n Product capability\n \n \n \n \n Target growth rate\n \n \n \n \n Target revenue\n \n \n \n \n Target market share\n \n \n \n \n \n \n Connect\n \n \n \n \n 15% CAGR\n \n \n \n \n > $175m\n \n \n \n \n c. 20%\n...