Business
IQE plc: FY 2022 Unaudited Preliminary Results
IQE plc: FY 2022 Unaudited Preliminary Results.
About this update from Iqe Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n \nIQE plc\n(\"IQE\" or the \"Group\")\nUnaudited Preliminary Results for the Full Year ended 31 December 2022\n \n \n \nCardiff, UK\n17 May 2023\n \n \nResilient performance and strategic progress against a challenging industry backdrop\n \n \nIQE plc (AIM: IQE, \"IQE\" or the \"Group\"), a leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, today provides unaudited preliminary results in relation to the full year ended 31 December 2022.\nFY 2022 Financial highlights\n\n\n\n \n\n\nFY 2022\n£'m*\n\n\nFY 2021\n£'m*\n\n\nChange\n(%)\n\n\nConstant currency change (%)\n\n\n\n\nRevenue\n\n\n167.5\n\n\n154.1\n\n\n9%\n\n\n(2%)\n\n\n\n\nAdjusted EBITDA\n\n\n23.4\n\n\n18.7\n\n\n25%\n\n\n\n\n\n\n\nAdjusted EBIT\n\n\n(3.6)\n\n\n(6.5)\n\n\n\n\n\n\n\n\n\n\nReported EBIT1\n\n\n(73.0)\n\n\n(20.0)\n\n\n\n\n\n\n\n\n\n\nReported loss before tax2\n\n\n(75.4)\n\n\n(22.2)\n\n\n\n\n\n\n\n\n\n\nAdjusted net cashflow from operations\n\n\n15.7\n\n\n17.9\n\n\n(12%)\n\n\n\n\n\n\n\nReported net cashflow from operations\n\n\n8.9\n\n\n18.9\n\n\n(53%)\n\n\n\n\n\n\n\nCapital expenditure3\n\n\n(9.4)\n\n\n(15.1)\n\n\n(37)%\n\n\n\n\n\n\n\nAdjusted net debt4\n\n\n(15.2)\n\n\n(5.8)\n\n\n\n\n\n\n\n\n\n\nReported net debt\n\n\n(66.5)\n\n\n(60.2)\n\n\n\n\n\n\n\n\n\n\nCash and cash equivalents\n\n\n11.6\n\n\n10.8\n\n\n\n\n\n\n\n\n\n\nDiluted EPS\n\n\n(9.27p)\n\n\n(3.87p)\n\n\n\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n(0.74p)\n\n\n(2.41p)\n\n\n\n\n\n\n\n\n\n \nNote: FY22 financials are unaudited\n1. Reported figures include a £62.7m non-cash goodwill impairment\n2. Adjustments include impairment of intangible assets, restructuring costs, CEO recruitment costs and share-based payment charges.\n3. Capex stated is Property, Plant and Equipment cash capex.\n4. Adjusted net debt is calculated as cash less borrowings but excluding lease liabilities and fair value gains/losses on derivative instruments.\n \nGroup revenue for FY 2022 was up 9% to £167.5m (FY 2021: £154.1m). On a constant currency basis, Group revenue was £151.2m (FY 2021: £154.1m).\nWireless revenue of £76.0m (FY 2021: £83.2m) was down 9% year-on-year on a reported basis and down 18% on a constant currency basis. This ...