Business
IQE plc: FY 2024 Financial Results
IQE plc: FY 2024 Financial Results.
About this update from Iqe Plc
[{"type":"text","content":"\n\nIQE plc\nCardiff, UK\n13 May 2025\n \nFull Year 2024 Results\n- Improved year-on-year profitability in line with expectations\n- Jutta Meier appointed CEO\n \nIQE plc (AIM: IQE, \"IQE\" or the \"Group\"), the leading global supplier of compound semiconductor wafer products and advanced material solutions, today announces its results for the full year ended 31 December 2024.\n \nFY 2024 Financial Summary:\n\n\n\n\n \n\n\nFY 2024\n£'m\n\n\nFY 2023\n£'m\n\n\nChange\n(%)\n\n\n\n\nRevenue\n\n\n118.0\n\n\n115.3\n\n\n2.4\n\n\n\n\nAdjusted EBITDA1\n\n\n8.1\n\n\n4.3\n\n\n88.1\n\n\n\n\nAdjusted loss before tax\n\n\n(22.3)\n\n\n(23.2)\n\n\n\n\n\n\n\nReported loss before tax\n\n\n(36.9)\n\n\n(28.8)\n\n\n\n\n\n\n\nAdjusted net cashflow from operations\n\n\n6.1\n\n\n15.7\n\n\n\n\n\n\n\nReported net cashflow from operations\n\n\n1.3\n\n\n10.1\n\n\n\n\n\n\n\nCash capital expenditure2\n\n\n11.4\n\n\n12.2\n\n\n\n\n\n\n\nAdjusted net debt3\n\n\n(18.8)\n\n\n(2.2)\n\n\n\n\n\n\n\nCash and cash equivalents\n\n\n4.7\n\n\n5.6\n\n\n\n\n\n\n\nReported Diluted EPS\n\n\n(3.96p)\n\n\n(3.28p)\n\n\n\n\n\n\n\nAdjusted Diluted EPS\n\n\n(2.46p)\n\n\n(2.68p)\n\n\n\n\n\n\n\n \n1. Adjusted EBITDA is earnings before interest, tax, depreciation, amortisation and certain non-cash charges, non-operational items and significant infrequent items set out in Note 4 in the financial statements section.\n2. Cash capital expenditure stated is Property, Plant and Equipment cash capex.\n3. Adjusted net debt is calculated as cash less borrowings but excluding lease liabilities and fair value gains/losses on derivative instruments.\nJutta Meier, Chief Executive Officer and Chief Financial Officer of IQE, commented:\n\"IQE delivered a solid set of financials in line with our January 2025 trading update. Our focus has been on reducing costs and optimising our footprint, and I am pleased to see this has resulted in an improved adjusted EBITDA position year-on-year.\nThe Strategic Review remains ongoing and we have been encouraged by progress so far despite a challenging macro environment. IQE has a strong foundation from which to unlock value for all of our stakeholders and with a diverse customer pipeline, the continued end-market demand for our technology gives us confidence for the future. I am also...