Soitec Sa · EURONEXT:SOI
Soitec Sa — Investor Day (June 2021)
117 slides from Soitec Sa's investor day presentation, Jun 10, 2021
Slide 1: Gearing Up for Extended Ambitions
CAPITAL MARKETS DAY 2021 GEARING UP FOR EXTENDED AMBITIONS Paris | June 10, 2021
Slide 2: Disclaimer
DISCLAIMER This document is provided by Your attention is drawn to the future events and are dependent indication of the Company’s future the basis of, or be relied upon in Soitec (the “Company”) for risk factors described in Chapter on circumstances that may or results or developments. connection w
Slide 3: Agenda
AGENDA #01 #02 #03 #04 Q&A PART ONE VISION STRATEGY GLOBAL INNOVATION SESSION #1 & OUTLOOK Thomas Piliszczuk BUSINESS UNITS Christophe Maleville Paul Boudre Bernard Aspar BREAK #05 #06 Q&A PART TWO OPERATIONS FINANCE SESSION #2 Cyril Menon Léa Alzingre CEO WRAP UP
Slide 4: Vision & Outlook
01 VISION & OUTLOOK PAUL BOUDRE Chief Executive Officer © Soitec 2021. No copying or distribution permitted. PAGE 4 1 V I S I O N & O U T LO O K 2 3 4 5 6
Slide 5: CEO Key Messages
CEO KEY MESSAGES STRATEGIC VISION FINANCIAL MODEL FOR FY26 SUSTAINABILITY SUPPORTS FOR THE NEXT 5 YEARS OUR VALUE CREATION STRATEGY • Powerful megatrends • 3x revenues to ~$2B • Innovate towards a drive unprecedented sustainable economy semiconductor demand • ~35% EBITDA margin • Act to become a cor
Slide 6: Semiconductors Have Transformed Our Lives
SEMICONDUCTORS HAVE TRANSFORMED OUR LIVES FOR THE LAST 30 YEARS Global semiconductor sales ($B) PC INTERNET 3G MOBILE SOCIAL 4G VIDEO IOT PHONES MEDIA SMARTPHONES STREAMING $400B ~$500B $300B $200B $100B 1995 2000 2005 2010 2015 2020 2025 2030 PAG E 0 0 1 Source: SIA, IBS © Soitec 2021. No copying o
Slide 7: Powerful Megatrends Drive Unprecedented Demand for Semiconductors
POWERFUL MEGATRENDS DRIVE UNPRECEDENTED DEMAND FOR SEMICONDUCTORS Towards ~$1T by 2030 Global semiconductor sales ($B) PC INTERNET 3G MOBILE SOCIAL 4G VIDEO IOT ~$500B PHONES MEDIA SMARTPHONES STREAMING $400B $300B $200B $100B 1995 2000 2005 2010 2015 2020 2025 2030 PAG E 0 0 1 Source: SIA, IBS © So
Slide 8: Powerful Megatrends Drive Unprecedented Demand for Semiconductors
POWERFUL MEGATRENDS DRIVE UNPRECEDENTED DEMAND SEMICONDUCTORS MEGRATRENDS FOR SEMICONDUCTORS Towards ~$1T by 2030 Global semiconductor sales ($B) PC INTERNET 5G 3G MOBILE SOCIAL ARTIFICIAL 4G AUTONOMOUS & INDUSTRY 4.0 IOT EDGE$500B VIDEO COMPUTING INTELLIGENCE PHONES MEDIA ELECTRIC VEHICLES STREAMIN
Slide 9: Soitec Has Built a Unique Position in the Value Chain
SOITEC HAS BUILT A UNIQUE POSITION IN THE VALUE CHAIN… END MARKETS LEADING SUPPLIER MOBILE COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL BULK ENGINEERED FOUNDRIES DESIGN FABLESS MATERIALS SUBSTRATES SMART DEVICES © Soitec 2021. No copying or distribution permitted. PAGE 9 1 V I S I O N & O U T LO O K 2 3 4
Slide 10: Leveraging Strategic Partnerships in the Semiconductor Ecosystem
INEERED SUBSTRAT ENG ES INN OV AT IES IO N DR UN PL AT FO FO RM ... LEVERAGING S STRATEGIC PARTNERSHIPS IN THE ENTIRE BULK MATERIALS IP & DESIGN SEMICONDUCTOR ECOSYSTEM T EN FA LE M B SS IP QU E © F. Ardito / CEA OEMS © Soitec 2021. No copying or distribution permitted. PAGE 10 1 V I S I O N & O U T
Slide 11: Soitec Designs Semiconductor Materials
SOITEC DESIGNS SEMICONDUCTOR MATERIALS TO MAKE THE WORLD… I C O N MORE MORE MORE PAG E 0 0 1 PAG E 0 0 1 CONNECTED ENERGY INTELLIGENT EFFICIENT © Soitec 2021. No copying or distribution permitted. PAGE 11 1 V I S I O N & O U T LO O K 2 3 4 5 6
Slide 12: Make the World More Connected
SOITEC ENGINEERED SUBSTRATES 5G FRONT-END MODULES FOR SMARTPHONES MAKE THE WORLD WI-FI 6(E) FRONT-END MODULES FOR MOBILE DEVICES PAG E 0 0 1 RADARS FOR CONNECTED CARS PAG E 0 0 1 OPTICAL TRANSCEIVERS FOR HIGH-SPEED DATA CENTERS PAG E 0 0 1 MOBILE NETWORKS BASE STATIONS PAG E 0 0 1 MORE GPS CHIPS FOR
Slide 13: Make the World More Energy Efficient
SOITEC ENGINEERED SUBSTRATES SIC INVERTERS FOR ELECTRIC VEHICLES MAKE THE WORLD ULTRA-LOW POWER INFERENCE PROCESSORS FOR AI AT THE EDGE PAG E 0 0 1 FAST CHARGERS FOR ELECTRIC VEHICLES PAG E 0 0 1 BATTERY MANAGEMENT SYSTEMS FOR ELECTRIC VEHICLES PAG E 0 0 1 HIGH EFFICIENCY POWER SUPPLIES AND CHARGERS
Slide 14: Make the World More Intelligent
SOITEC ENGINEERED SUBSTRATES SMART CITY MAKE THE WORLD VISION PROCESSORS FOR AUTONOMOUS VEHICLES PAG E 0 0 1 OPTICAL BIOSENSORS FOR SMART HEALTHCARE PAG E 0 0 1 SPEECH RECOGNITION PROCESSORS FOR SMART SPEAKERS PAG E 0 0 1 SMART HOME PAG E 0 0 1 MORE 3D IMAGE SENSORS FOR FACIAL RECOGNITION INTELLIGEN
Slide 15: Soitec Addressable Market Expected to More Than Double
SOITEC ADDRESSABLE MARKET EXPECTED TO MORE THAN DOUBLE IN THE NEXT FIVE YEARS SOITEC SERVES 3 STRATEGIC END MARKETS ~7 MILLION WAFERS ADDRESSABLE MARKET IN FY26 x2.5 GROWTH FY 2021 - 2026 MOBILE COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL SMART DEVICES RF-SOI, FD-SOI, Power-SOI, FD-SOI, FD-SOI, Imager-SO
Slide 16: Soitec Revenues Expected to Triple in Next 5 Years
SOITEC REVENUES ~$2B EXPECTED REVENUE ARE EXPECTED TO TRIPLE ~15% IN THE NEXT 5 YEARS SMART DEVICES ~20% AUTOMOTIVE $668M REVENUE x3 INCREASE & INDUSTRIAL REVENUE ~15% SMART DEVICES ~65% MOBILE ~10% COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL ~75% MOBILE COMMUNICATIONS FY21 FY26 © Soitec 2021. No copying
Slide 17: >4 Million Wafers Capacity by FY26
>4M WAFER RAMPING UP TO CAPACITY >4 MILLION WAFERS CAPACITY BY FY26 150mm POI GaN SiC RF-SOI Power-SOI POI ~2M WAFER 200mm GaN CAPACITY SiC Photonics-SOI RF-SOI FD-SOI Imager-SOI 300mm Photonics-SOI PD-SOI Power-SOI FY21 FY22 FY26 © Soitec 2021. No copying or distribution permitted. PAGE 17 1 V I S
Slide 18: Operating Model Set to Deliver Higher Value Creation
~35% OPERATING MODEL SET TO DELIVER HIGHER VALUE CREATION ~32% ~31% FY21 FY22 FY26 $668M 30.7% ~$950M ~32% ~$2B ~35% REVENUE EBITDA REVENUE EBITDA EXPECTED EBITDA MARGIN MARGIN REVENUE MARGIN Note: Model estimates for FY26 using EUR/USD exchange rate at 1.20 © Soitec 2021. No copying or distribution
Slide 19: Sustainability Supports Our Value Creation Strategy
SUSTAINABILITY SUPPORTS OUR VALUE CREATION STRATEGY #01 INNOVATE TO DRIVE #02 #03 THE TRANSITION TO A ACT TO BECOME A ROLE MODEL LEVERAGE OUR INCLUSIVE AND SUSTAINABLE ECONOMY FOR A BETTER SOCIETY INSPIRING COMPANY CULTURE © Soitec 2021. No copying or distribution permitted. PAGE 19 1 V I S I O N &
Slide 20: Innovate to Drive the Transition to a Sustainable Economy
EMBED ENERGY ACT TO REDUCE OUR EFFICIENCY IN OUR ENVIRONMENTAL FOOTPRINT PRODUCTS BY DESIGN INNOVATE TO DRIVE Soitec products save the yearly Engaged with the SBT* initiative to cut THE TRANSITION TO domestic energy consumption of a our carbon emissions in line with a 1M <1.5°C A SUSTAINABLE ECONOMY
Slide 21: Act to Become a Role Model for a Better Society
CROSS-FERTILIZE OUR SET HIGH ETHICAL ECOSYSTEM STANDARDS FOR US AND FOR ACT TO BECOME A OUR BUSINESS RELATIONS ROLE MODEL PARTNERING FOR A BETTER 90% with universities and public institutions SOCIETY SUPPORT LOCAL of our strategic suppliers COMMUNITIES signed our Code of Good Conduct 100 young under
Slide 22: Leverage Our Inclusive and Inspiring Company Culture
ADVANCING GENDER EMBARK OUR EMPLOYEES EQUALITY IN OUR INDUSTRY AS SHAREHOLDERS LEVERAGE OUR INCLUSIVE AND INSPIRING COMPANY CULTURE 94/100 100% of our employees eligible for free FY21 gender equality index in France performance share in 2020 71% of eligible employees invested in our last ESPP, all u
Slide 23: A Global Management Team to Execute Our Vision
Paul Boudre A GLOBAL Bernard Aspar CEO MANAGEMENT COO - GLOBAL BUSINESS Léa Alzingre CFO TEAM TO EXECUTE OUR VISION Christophe Maleville Cyril Menon CTO OPERATIONS Pascal Lobry Steve Babureck PEOPLE AND Thomas SUSTAINABILITY CORPORATE DEVELOPMENT Piliszczuk Yvon Pastol & INVESTOR STRATEGIC CUSTOMER
Slide 24: Strategy
02 STRATEGY THOMAS PILISZCZUK Executive Vice President Global Strategy © Soitec 2021. No copying or distribution permitted. PAGE 24 1 2 S T R AT E G Y 3 4 5 6
Slide 25: Strategy Key Messages
STRATEGY KEY MESSAGES MAJOR MEGATRENDS ENGINEERED SUBSTRATES PLAY A KEY ROLE SOITEC STRATEGY TO SET STANDARDS • Driving semiconductor growth • Electronic systems need new • Engage across entire value in the current decade semiconductor solutions chain to set sustainable industry standards © Soitec 2
Slide 26: The World Is Changing
THE WORLD CLIMATE CHANGE IS CHANGING... ENVIRONMENTAL DEGRADATION ERODING HUMAN SECURITY #01 #02 #03 #04 DIGITAL LONGEVITY NET-ZERO SHARING ECONOMY ECONOMY ECONOMY ECONOMY • Connected devices & Big • Telemedicine, Personalized, • Energy efficient Data • Cyber security, Biomedic, data - cyber securit
Slide 27: It's All About More Connected, Intelligent, Energy Efficient
IT’S ALL ABOUT… MORE MORE MORE CONNECTED INTELLIGENT ENERGY EFFICIENT x5 x5 x2 125B 175ZB 20% of connected of data volume of world’s electricity consumed devices in 2030 in 2025 by ICT industry in 2025 Source: International Renewable Energy Source: Cisco Source: Intel 2020 Agency, Tsunami of data ,
Slide 28: Key Megatrends Drive Semiconductor Growth
KEY MEGATRENDS DRIVE SEMICONDUCTOR GROWTH 5G EDGE AI ELECTRIFICATION SMARTPHONES AIoT OBJECTS EV CARS x8 x150 x10 >1.6B >2.5B >45M in 2030 in 2030 in 2030 GLOBAL PLATFORM SMART EVERYTHING GREEN ENERGY EVERYWHERE © Soitec 2021. No copying or distribution permitted. PAGE 28 1 2 S T R AT E G Y 3 4 5 6
Slide 29: 5G Is Transforming the World
5G IS TRANSFORMING THE WORLD 5G IS DELIVERING MOVING TO ON PROMISES AN ALL CONNECTED 5G WORLD 5G roadmap extends x100 Continued innovation for new verticals deployments, for 10+ years use cases, and spectrum NETWORK CAPACITY Driving innovation to enhance smartphones and transform other industries 3G
Slide 30: 5G - The X Factor
5G - x2 ANTENNAS THE X FACTOR x2 x2 $44B MAX LNA - Switch - Tuner FREQUENCY Continuous improvement x3.5 x2 Sub-6GHz x2 BANDWIDTH Filters Need for disruptions $21B x4 FREQUENCY $12B COMBINATION x20 NEW MOBILE DATA Active Antenna TRAFFIC 2020-2030 NEW In Package 2020 2025 2030 28, 39, …GHz mmW Need fo
Slide 31: AI - From Cloud to Device
AI - FROM CLOUD TO DEVICE BEFORE 2.5B WHY EDGE COMPUTING? CLOUD COMPUTING ONLY AI TRAINING IN THE CLOUD INFERENCE IN THE CLOUD 300M 15M DATA SECURITY 2020 2025 2030 Data safety in local process EDGE AI DEVICES (UNITS) NOW Source: ABI research 2021 ADDING EDGE ECONOMY COMPUTING Energy saving AI TRAIN
Slide 32: Intelligence at the Edge
• High power edge computing INTELLIGENCE • High speed network • Next generation display AT THE EDGE • Edge computing • 3D sensing VIRTUALIZATION • Wide area network • High brightness/Fast response display AIoT • New human-machine interface • New human-machine interface • High speed connectivity (5G)
Slide 33: Once-in-a-Century Transformation in Automotive Market
ONCE-IN-A CENTURY TRANSFORMATION IN >45M >70% AUTOMOTIVE MARKET CAGR 47% AUTO SEMI 50% OPPORTUNITIES 2025 >20M 30% 27M TELEMATIC AND C Sales of 5G enabled INFOTAINMENT SEMI $15B Connected vehicles in 20261 CAGR 10% 3.2M 2020 2025 2030 2020 2025 2030 A 10M AUTONOMOUS SEMI GLOBAL EV SALES (MILLION UNI
Slide 34: Automotive Megatrends Drive Innovation from Systems to Silicon
AUTOMOTIVE MEGATRENDS DRIVE INNOVATION FROM SYSTEMS TO SILICON >1400 60% ar ad R Li 35% d ar a er am ADAS C Fusion processor 15% ~400 ~200 ar Radar processor ad ar R ad R Image sensor 2020 2025 2030 Level 2 Level 3 Level 4&5 Domain controller Autonomous cars level 2 & above (%) ADAS semiconductor co
Slide 35: Semiconductor Market to Reach $1T by End of Decade
SEMICONDUCTOR MARKET 2020 $173B TO REACH $1T BY THE END OF THE DECADE 2025 CAGR $281B 10% 2030 $458B 1250 WIRELESS COMMUNICATIONS(1) 1000 2020 $39B 750 2025 CAGR $73B 19% 2030 $165B 500 Others Auto IoT Wireless SMART IoT DEVICES(2) 250 2020 $38B SOITEC TARGETS 2025 $65B 2/3 OF THE CAGR 0 10% 2020 20
Slide 36: Key Contributors to Enable Growth
KEY CONTRIBUTORS TO ENABLE GROWTH P P AC Continue Moore’s Law PPAC New architectures New structures / 3D New materials TIME TO MARKET New ways to shrink Advanced packaging ENGINEERED SUBSTRATES SUSTAINABILITY © Soitec 2021. No copying or distribution permitted. PAGE 36 1 2 S T R AT E G Y 3 4 5 6
Slide 37: Soitec Products Enhance Sustainability
SOITEC PRODUCTS ENHANCE SUSTAINABILITY SAVING THE YEARLY DOMESTIC ENERGY CONSUMPTION OF A 1 MILLION INHABITANTS CITY SMART DEVICES, SMARTPHONES DATA CENTERS AUTOMOTIVE FRONT END MODULES OPTICAL TRANSCEIVERS Soitec FD-SOI Soitec RF-SOI Soitec Photonics-SOI Energy savings: 717 GWh* Energy savings: 598
Slide 38: Engineered Substrates Create Value at System Level
ENGINEERED SUBSTRATES CONNECT Data rate, power efficiency CREATE VALUE AT SYSTEM LEVEL COMPUTE Energy efficiency performance, data rate with photonics Max. F Cost req m ht m Lig W SENSE al Pow Therm 3D imaging, health sensors er p CO 2 Tem Re e bi ag lia lit l t y Vo N o is e Le a k POWER Power dens
Slide 39: This Is the Soitec Flywheel
THIS IS THE CUSTOMER/ MARKET NEEDS & PRODUCT DISRUPTIONS ‘SOITEC FLYWHEEL’ 1 ANNUAL PROFITABLE STRATEGIC GROWTH PLANNING Expand & protect 6 2 core business SUSTAINABLE Extend into VALUE attractive CREATION adjacencies Evolve operating 5 3 model MANUFACTURING INNOVATION Reinforce global positioning 4
Slide 40: Strategy Takeaways
STRATEGY TAKEAWAYS MAJOR MEGATRENDS ENGINEERED SUBSTRATES PLAY KEY ROLE SOITEC STRATEGY TO SET STANDARDS • Driving the semiconductor growth in • Electronic systems need new • Engage across entire value chain to set the current decade semiconductor solutions sustainable industry standards © Soitec 20
Slide 41: Global Business Units
03 GLOBAL BUSINESS UNITS BERNARD ASPAR Chief Operating Officer © Soitec 2021. No copying or distribution permitted. PAGE 41 1 2 3 G LO B A L B U S I N E S S U N I T S 4 5 6
Slide 42: Global Business Units Key Messages
GLOBAL BUSINESS UNITS KEY MESSAGES CUSTOMERS DIFFERENTIATED PRODUCTS PROFITABLE GROWTH • Focusing on three • Product roadmap • Volume expected strategic end markets bringing value from foundries to to 2.5x by FY26 IDM & fabless • Revenue expected to 3x by FY26 © Soitec 2021. No copying or distributi
Slide 43: Focusing on Strategic Markets to Expand Our Products Portfolio
FOCUSING ON 3 STRATEGIC MARKETS TO EXPAND OUR PRODUCTS PORTFOLIO MOBILE UTOMOTIVE A MART S COMMUNICATIONS & INDUSTRIAL DEVICES MAIN DRIVERS MAIN DRIVERS MAIN DRIVERS • 5G mmW • Autonomous cars • Edge computing • 5G sub-6 GHz • Vehicle electrification • 3D sensing & Healthcare • Mobile infrastructure
Slide 44: Serving >7 Million Wafers Addressable Market by FY26
>7M SERVING >7 MILLION WAFERS WAFERS ADDRESSABLE MARKET* SMART DEVICES FD-SOI BY FY26 Imager-SOI Photonics-SOI PD-SOI AUTOMOTIVE & INDUSTRIAL Power-SOI FD-SOI ~3M SiC GaN WAFERS MOBILE COMMUNICATIONS RF-SOI FD-SOI POI GaN FY21 FY26 *Engineered substrates market opportunity © Soitec 2021. No copying
Slide 45: Serving >7 Million Wafers Addressable Market by FY26
>7M SERVING >7 MILLION WAFERS WAFERS ADDRESSABLE MARKET* BY FY26 POI 150mm GaN SiC RF-SOI Power-SOI ~3M Photonics-SOI WAFERS 200mm POI GaN SiC RF-SOI FD-SOI 300mm Imager-SOI Photonics-SOI PD-SOI Power-SOI FY21 FY26 *Engineered substrates market opportunity © Soitec 2021. No copying or distribution p
Slide 46: Mobile Communications
SOITEC PRODUCTS PORTFOLIO RF-SOI MOBILE COMMUNICATIONS For highly efficient mobile communication APPLICATIONS FD-SOI • Smartphones radio-frequency front-end modules Integrated technology • Networking base stations POI SOITEC PRODUCTS ENABLE High performance • 4G 5G filters • 5G • WiFi 6 connectivity
Slide 47: A Comprehensive Offer for RF and mmWave Front End Modules
A COMPREHENSIVE OFFER FOR RF AND mmWave FRONT END MODULES POWER LOW NOISE ANTENNA FILTER ENVELOPE PHASE SYSTEM AMPLIFIER AMPLIFIER SWITCH TUNER TRACKER SHIFTER ON CHIP (PA) (LNA) (AT) (ET) (SoC) ANTENNAS RF-SOI 4G / 5G FRONT-END MODULES SUB- POI Power amplifiers, switches, antenna tuners, filters 6G
Slide 48: Mobile Content Opportunity in the Next Five Years
~40mm2 MOBILE CONTENT OPPORTUNITY IN THE NEXT FIVE YEARS IN mm2 ~80mm2 RF-SOI FD-SOI POI GaN >200mm2 ~30mm2 ~10mm2 ~60mm2 ~50mm2 ~30mm2 ~60mm2 4G 5G WiFi TOTAL 5G Filters 5G WiFi 6 TOTAL Sub-6GHz Sub-6 GHz Sub-6 GHz mmWave & UWB TODAY WITHIN THE NEXT 5 YEARS © Soitec 2021. No copying or distribution
Slide 49: Mobile Communications: RF-SOI Value Proposition
MOBILE COMMUNICATIONS: RF-SOI VALUE PROPOSITION • A standard for complex RF signal routing • 5G sub-6GHz and mmW integration levels • Reliable and robust for best antenna performance • Minimum interference to and from digital and control functions 200mm • Eases mmW and WiFi efficient PA integration
Slide 50: Mobile Communications: FD-SOI Value Proposition
MOBILE COMMUNICATIONS: FD-SOI VALUE PROPOSITION • Cost efficient integrated radio in 5G mmW • Energy efficient analog/mixed signal solutions • WiFi 6 SoC platforms • Scalable and single chip solution for mmWave and Sub-THz design 300mm FD-SOI APPLICATIONS FOR MOBILE APPLICATIONS Evolution from broad
Slide 51: Mobile Communications: POI Value Proposition
MOBILE COMMUNICATIONS: POI VALUE PROPOSITION • Superior temperature stability • Lower loss • Integration for multiplexers • Larger bandwidth 150mm • Efficient rejection 200mm APPLICATION IN 5G SMARTPHONE Filters for 5G Smartphones 4G bands EXISTING AND FUTURE 5G low complexity bands APPLICATIONS • S
Slide 52: Mobile Communications: GaN Value Proposition
MOBILE COMMUNICATIONS: GaN VALUE PROPOSITION • Superior power amplifier efficiency and power density • Excellent higher frequency and wide bandwidth performance enabling highest data rates 150mm • Compact size, weight and lowest costs of ownership for 4G/5G infrastructure systems 200mm DIFFERENTIATE
Slide 53: Automotive & Industrial
SOITEC PRODUCTS PORTFOLIO Power-SOI AUTOMOTIVE & INDUSTRIAL Power management IC, In-vehicle networking & gate driver APPLICATIONS FD-SOI • Autonomous driving systems MCUs, ADAS-Radar • Connected car ADAS-Vision • Vehicle electrification • Industry 4.0 GaN DC-DC 48V converters SOITEC PRODUCTS ENABLE
Slide 54: Comprehensive Products Portfolio for Automotive
A D COMPREHENSIVE PRODUCTS PORTFOLIO A S In co fo nn & FOR AUTOMOTIVE ta ec in ti m vi e ty n t INFOTAINMENT & ADAS POWERTRAIN CONNECTIVITY Vision processor Gate drivers / actuator Class D audio amplifier (FD-SOI) (Power-SOI) (Power-SOI) O ha Radar Diode / MOSFET n r -b g C o er D ve C (SiC / GaN Po
Slide 55: Automotive Content Opportunity in the Next Five Years
AUTOMOTIVE CONTENT OPPORTUNITY 250 - 550mm2 IN THE NEXT FIVE YEARS IN mm2 125 - 250mm2 Power-SOI ~140mm2 FD-SOI 500 - Smart Cut SiC TM 1000mm2 GaN 2000 - 3000 mm2 ~865mm2 60 - 100mm 2 80 - 160mm2 340 - 460mm2 ~105mm2 ~160mm2 ~95mm2 Powertrain Infotainment ADAS TOTAL Powertrain Infotainment ADAS TOTA
Slide 56: Automotive & Industrial: Power-SOI Value Proposition
AUTOMOTIVE & INDUSTRIAL: VALUE PROPOSITION Power-SOI • Low and high voltage integration • High power density with smaller die area and isolation area • Noise immunity & less crosstalk • EMI/ EMC and ESD enhancement • High robustness and reliability 200mm • High temperature operation & latchup free •
Slide 57: Automotive & Industrial: FD-SOI Value Proposition
AUTOMOTIVE & INDUSTRIAL: FD-SOI VALUE PROPOSITION ADAS INFOTAINMENT • Efficient multithreading ADAS • Improved system reliability and soft processors error rate • Integrated radar system on chip • Flexible computing with Adaptive Body Biasing (ABB) 300mm FD-SOI CAPABILITIES PAVE THE WAY FOR ADAS EVO
Slide 58: Automotive & Industrial: Smart Cut SiC Value Proposition
AUTOMOTIVE & INDUSTRIAL: Smart Cut SiC TM VALUE PROPOSITION Smart CutTM SiC vs SiC: It is all about device yield and performances! • Strong reduction of defect density (x5) to enable larger die • Lower resistivity substrate improves device power performance 150mm • 200mm scalability to accelerate Si
Slide 59: Automotive & Industrial: GaN Value Proposition
AUTOMOTIVE & INDUSTRIAL: GaN VALUE PROPOSITION • Lowest conduction and switching loss for highest system efficiencies • High frequency switching and temperature operation for compact systems 150mm 200mm DIFFERENTIATED PRODUCTS OFFERING FOR THE BEST SOLUTION PER APPLICATION Cap In-situ SiN GaN cap p-
Slide 60: Smart Devices
SOITEC PRODUCTS PORTFOLIO FD-SOI SMART DEVICES Crossover MCU, connected MCUs, scalable FPGAs APPLICATIONS • 3D sensors/Facial recognition Imager-SOI • Data centers For improved imager • Healthcare monitoring performance in NIR • Smart home & Smart cities • Wearables Photonics-SOI Optical transceiver
Slide 61: Smart Devices: FD-SOI Value Proposition
SMART DEVICES: FD-SOI VALUE PROPOSITION • Lower active power consumption - Always ON • Performance on demand • Ultra-low leakage with ultra-low VDD • Robust energy harvesting ‘zero power’ capabilities 300mm • Lowest-cost processing (inferences-per-Watt-per-$) TYPICAL DIE SIZE PER APPLICATION IN mm2
Slide 62: Smart Devices: Imager-SOI Value Proposition
SMART DEVICES: Imager-SOI VALUE PROPOSITION • Reduced cross talks among pixels • Lower near infrared illuminator power • Reduced noise, increased signal to noise ratio • Dedicated layer deposition for innovative stacking 300mm • Better fill factor • Optimized performances per functional block NIR IM
Slide 63: Smart Devices: Photonics-SOI Value Proposition
SMART DEVICES: Photonics-SOI VALUE PROPOSITION • SOI as standard substrate for waveguides • Single die integration (simpler packaging) • Chip scale integration of optical function in CMOS fab 200mm • High speed modulation compliant and low loss waveguide • Easy design for bio sensing and healthcare
Slide 64: Smart Devices: PD-SOI Value Proposition
SMART DEVICES: PD-SOI VALUE PROPOSITION • Improved device performances • Reduced device energy • Smaller leakage 200mm 300mm TYPICAL DIE SIZE PER APPLICATION IN mm2 EXISTING AND FUTURE APPLICATIONS Servers and • Servers high-performance • High performance computing computing ~700mm² © Soitec 2021. N
Slide 65: Dolphin Design: Accelerate Energy Efficient SoC Designs
DOLPHIN DESIGN: VALUE PROPOSITION ACCELERATE ENERGY • Ultimate energy efficiency through pre-optimized IP platforms Design of custom ASICS EFFICIENT SoC DESIGNS • Adaptative Body Biasing (ABB) for FD-SOI technologies From specification to final product shipment • Ready to use Audio CODEC including S
Slide 66: FY26 Base Case Revenue Model
FY26 BASE CASE ~$2B EXPECTED REVENUE REVENUE MODEL ~15% x3 INCREASE SMART DEVICES REVENUE ~20% AUTOMOTIVE $668M REVENUE x2.5 INCREASE & INDUSTRIAL VOLUME ~15% SMART DEVICES ~65% MOBILE ~10% COMMUNICATIONS AUTOMOTIVE & INDUSTRIAL ~75% MOBILE COMMUNICATIONS FY21 FY26 © Soitec 2021. No copying or distr
Slide 67: FY26 Revenue Model
FY26 REVENUE MODEL ~$2.4B ~$2B ~$1.7B Smart devices Automotive & Industrial Mobile communications LOW MID HIGH © Soitec 2021. No copying or distribution permitted. PAGE 67 1 2 3 G LO B A L B U S I N E S S U N I T S 4 5 6
Slide 68: Global Business Units Takeaways
GLOBAL BUSINESS UNITS TAKEAWAYS CUSTOMERS DIFFERENTIATED PRODUCTS PROFITABLE GROWTH • Focusing on three • Product roadmap • Volume expected strategic end markets bringing value from foundries to to 2.5x by FY26 IDM & fabless • Revenue expected to 3x by FY26 © Soitec 2021. No copying or distribution
Slide 69: Innovation
04 INNOVATION CHRISTOPHE MALEVILLE Chief Technology Officer © Soitec 2021. No copying or distribution permitted. PAGE 69 1 2 3 4 I N N O VAT I O N 5 6
Slide 70: Innovation Key Messages
INNOVATION KEY MESSAGES ENGINEERED SUBSTRATES SOITEC TECHNOLOGY TOOLBOX SOITEC INNOVATION MODEL AND SEMICONDUCTOR INNOVATION • Leveraging materials science through • Maturing & sharpening our • We are transforming our Innovation engineered substrates technologies to bring best layer on to meet short
Slide 71: Leveraging Materials Science to Enable Unique Applications
LEVERAGING MATERIALS SCIENCE TO ENABLE UNIQUE APPLICATIONS Leverage Develop Design Apply MATERIALS INTRINSIC TECHNOLOGY ENGINEERED SEMICONDUCTOR PROPERTIES SOLUTIONS SUBSTRATES MEGATRENDS Today: • Electronic • Smart Cut TM • SOI products portfolio • 5G • Photonic • Smart StackingTM • Anything-on- •
Slide 72: Innovation Drivers: PPACt
INNOVATION DRIVERS PPACt PPACt PPACt PPACt PPACt PERFORMANCE POWER AREA-COST TIME-TO-MARKET • Speed • Lower power • Smaller die size • Adoption window • Frequency consumption • Integrated chips, • Faster than • Linearity • Energy efficiency functions competition • Defectivity • Yield • Wavelength •
Slide 73: Innovation Drivers: PPACt Example with RF-SOI
INNOVATION DRIVERS PPACt - Example with RF-SOI PPACt PPACt PPACt PPACt PERFORMANCE POWER AREA-COST TIME-TO-MARKET • Optimized Ron • Lower power • Integrated FEM • Yearly optimization x Coff consumption • Silicon class yield • Linearity @ -100dBm • 50% compared • Defectivity to GaAs compatible with 2
Slide 74: Soitec Core Technology Toolbox
SOITEC CORE TECHNOLOGY TOOLBOX A Smart CutTM Smart StackingTM Refresh - Repolish Polishing Annealing Bonding Implantation Epitaxy Material Expertise Advanced Processing © Soitec 2021. No copying or distribution permitted. PAGE 74 1 2 3 4 I N N O VAT I O N 5 6
Slide 75: Smart Cut and SOI Substrates
SMART CUT AND SOI SUBSTRATES TM Active layer Functional/ insulator layer Base wafer: mechanical support Silicon or easy to handle & active TECHNOLOGY • Industrial manufacturability of SOI – high yield • Drastic improvement in uniformity & quality • Re-use of donor wafer increases cost efficiency • F
Slide 76: Anything-on-Anything Substrate
ANYTHING-ON-ANYTHING BEST ACTIVE LAYER ON FUNCTIONAL SUBSTRATE ACTIVE LAYER Silicon Piezo SiC InP GaN GaAs Ge Silicon Sapphire SUBSTRATE SiC GaAs Device wafer © Soitec 2021. No copying or distribution permitted. PAGE 76 1 2 3 4 I N N O VAT I O N 5 6
Slide 77: 6-Inch Engineered SiC Substrate
6-INCH ENGINEERED SiC SUBSTRATE FROM SiC BULK TO ENGINEERED TO POWER SMART CUT SiC TM DEVICES © Soitec 2021. No copying or distribution permitted. PAGE 77 1 2 3 4 I N N O VAT I O N 5 6
Slide 78: Smart Cut Process Adapted to SiC
SMART CUT PROCESS ADAPTED TO SiC TM FULL R&D PILOT LINE RUNNING A 1. Initial materials B A 2. Deposition MAJOR STAGES OF 3. Implantation SMART CUT™ SiC A 4. Conductive bonding • Donor wafer: Prime quality SiC • Handle wafer: Low Res SiC A B • Conductive bonding interface A 5. Splitting • Finishing i
Slide 79: Smart Cut's Solution: SiC Engineered Substrate
SMART CUT ’S SOLUTION: TM SiC ENGINEERED SUBSTRATE Current industry solution Smart CutTM’s engineered SiC Device structure (monocrystalline bulk) Epi-ready substrate solution Device Epi layer (drift) Conversion buffer Substrate 2021 Premium active layer Epi-ready surface SIMPLER PROCESS, HIGHER YIEL
Slide 80: Innovation Snapshot
INNOVATION GROUNDBREAKING RESEARCH STARTS WITH PEOPLE. At Soitec, we have an international team of material SNAPSHOT experts that drive advances in semiconductor technology. NUMBER OF NEW SOITEC PATENTS 2019-2021 285 3,500+ ACTIVE PATENTS INNOVATION 13% OF REVENUE WORLDWIDE PLATFORMS IN R&D IN FY21
Slide 81: Soitec Innovation Flywheel
SOITEC INNOVATION MARKET DRIVERS CUSTOMER INNOVATION FLYWHEEL PLATFORMS RTOs NT ME E MANAGE DEV MANUFACTURING ELOPMENT TIME TO CUSTOMER MARKET Visibility G over speed LED OW KN P I LO T P RO D U C T © Soitec 2021. No copying or distribution permitted. PAGE 81 1 2 3 4 I N N O VAT I O N 5 6
Slide 82: Balancing Short Term Innovation and Future Opportunities
BALANCING SHORT TERM INNOVATION 20% AND FUTURE OPPORTUNITIES 80% 2021 2026 2030 PRODUCTS UNDER DEVELOPMENT TO SUPPORT OUR BP TECHNOLOGIES AND PRODUCTS INCUBATION Addressing short and medium-term To support future opportunities and growth differentiations for our customers DISRUPTIVE INNOVATION INCRE
Slide 83: Tiling - Example with InP
TILING - EXAMPLE WITH InP ENABLING InP FOR SEVERAL APPLICATIONS • High frequency devices (RF, THz, 5G/6G, …) • Optoelectronics & Photonics (lasers, 3D sensing, PICs, gas sensing, ...) • SWIR Image sensors InP bulk InP on Silicon • Energy harvesting (IR, solar 100mm 200mm cells, …) © Soitec 2021. No
Slide 84: Partnerships with Leading Innovation Platforms
PARTNERSHIPS WITH LEADING INNOVATION PLATFORMS Expanding our R&D Early prototyping, Accessing new ideas, depth while keeping focus on lead time disruptive process compatibility and quality improvements, with internal R&D broader expertise corridors Worldwide Partners © Soitec 2021. No copying or dis
Slide 85: Substrate Innovation Center - Soitec Lab & Leti
SUBSTRATE INNOVATION CENTER - SOITEC LAB & LETI HUB • Development • Prototyping PROGRAMS • SiC • Silicon smoothing • Silicon epitaxy • GaAs • InP • Smart CutTM on cavity (MEMS) PEOPLE • 20 researchers (Soitec Lab) • 30 researchers on development programs & contribution of more than 100 employees (Le
Slide 86: Capitalizing on Years of Knowledge to Accelerate Time to Market
CAPITALIZING ON YEARS OF KNOWLEDGE GaN, InP, 3D TO ACCELERATE TIME TO MARKET SiC Technology maturity X differentiation POI SOI 2021 © Soitec 2021. No copying or distribution permitted. PAGE 86 1 2 3 4 I N N O VAT I O N 5 6
Slide 87: Innovation Takeaways
INNOVATION TAKEAWAYS MATERIALS SCIENCE PER PPACt BEST LAYER ON BEST SUBSTRATE UNIQUE INNOVATION MODEL © Soitec 2021. No copying or distribution permitted. PAGE 87 1 2 3 4 I N N O VAT I O N 5 6
Slide 88: Operations
05 OPERATIONS CYRIL MENON Senior Executive Vice President Operations © Soitec 2021. No copying or distribution permitted. PAGE 88 1 2 3 4 5 O P E R AT I O N S 6
Slide 89: Operations Key Messages
OPERATIONS KEY MESSAGES AGILE AND SCALABLE OPERATIONS OPERATING LEVERAGE SUSTAINABLE GROWTH • Fabs output has doubled from • Bernin 1, Bernin 2, and Simgui fabs • Engaged with the SBT initiative FY2018 to FY2020 running at full capacity. Committed to and driving our growth in line with maximize outp
Slide 90: Global Industrial Footprint - Capacity Expansion
GLOBAL INDUSTRIAL FOOTPRINT - 150mm 200mm CAPACITY EXPANSION NEW SOITEC BELGIUM N.V HASSELT, BELGIUM CAPACITIES 60K wafers/year - max capacity (PENDING BUSINESS MILESTONES) 200mm 300mm 300mm SOI CAPACITY EXPANSION 1M wafers/year SIMGUI SHANGHAI, CHINA – max capacity from 350K push to 450K wafers/yea
Slide 91: >4 Million Wafers Capacity by FY26
>4M WAFER RAMPING UP TO CAPACITY >4 MILLION WAFERS CAPACITY BY FY26 150mm POI GaN SiC RF-SOI Power-SOI POI ~2M WAFER 200mm GaN CAPACITY SiC Photonics-SOI RF-SOI FD-SOI 300mm Imager-SOI Photonics-SOI PD-SOI Power-SOI FY21 FY22 FY26 © Soitec 2021. No copying or distribution permitted. PAGE 91 1 2 3 4
Slide 92: Industrial Strategy - 300mm SOI
INDUSTRIAL STRATEGY - 300mm SOI 300mm SOI SOITEC BERNIN 2, FRANCE SOITEC PASIR RIS, SINGAPORE NEW CAPACITY RF-SOI Imager-SOI RF-SOI FD-SOI To be ready by FY26 Photonics-SOI FD-SOI Other SOI products Max capacity upgraded from 650K up to 700K Expand our capacity up to 1M wafers/year wafers/year • Imp
Slide 93: Industrial Strategy - 150-200mm POI & 200mm SOI
INDUSTRIAL STRATEGY - 150-200mm POI & 200mm SOI 150 - 200mm POI 200mm SOI SOITEC BERNIN 3, FRANCE SOITEC BERNIN 1, FRANCE SIMGUI SHANGHAI, CHINA POI RF-SOI Photonics-SOI RF-SOI Power-SOI Power-SOI Increase Bernin 3 max capacity from 500K Expanding capacity from 350K up to 450K upgraded up to 750K wa
Slide 94: Industrial Strategy - 150-200mm GaN & SiC
INDUSTRIAL STRATEGY - 150-200mm GaN & SiC 150 - 200mm GaN 150 - 200mm SiC © F. Ardito / CEA SOITEC BELGIUM N.V HASSELT, BELGIUM SUBSTRATE INNOVATION CENTER - FRANCE SiC CAPACITY - PLAN UNDER EVALUATION GaN SiC SiC Expand Hasselt Epi capacity up to Pilot line To be ready by FY24 60K wafers/year • GaN
Slide 95: Capex Plans - ~€1.1B over FY22-FY26
CAPEX PLANS - ~€1.1B OVER FY22-FY26 ~20% SOI 300mm Capacity expansion* ~20% SiC Capacity* ~10% Emerging activities (GaN, innovation) ~5% Maintenance & IT ~20% POI ~€1.1B ~25% CAPEX SOI 300mm FY22 - FY26 Pasir Ris (*) Excluding capex for building © Soitec 2021. No copying or distribution permitted. P
Slide 96: Capex Plans - Focus on FY22
CAPEX PLANS - FOCUS ON FY22 SOI 300mm Capacity expansion* SiC Capacity* Emerging activities (GaN, innovation) Maintenance & IT POI ~€240M CAPEX SOI 300mm FY22 Pasir Ris (*) Excluding capex for building © Soitec 2021. No copying or distribution permitted. PAGE 96 1 2 3 4 5 O P E R AT I O N S 6
Slide 97: Optimization - Industry 4.0 Deployed Across All Industrial Sites
OPTIMIZATION - INDUSTRY 4.0 DEPLOYED ACROSS ALL INDUSTRIAL SITES LEVER 1 LEVER 2 LEVER 3 STANDARD, AI CLOUD COMPUTING AUGMENTED & AUTOMATION TO STRENGTHEN OPERATOR OPERATIONS SCALABILITY • State-of-the-art industrial • All business applications • AR headsets for remote applications deployed: (ERP, H
Slide 98: Optimization - Industry 4.0 Deployed Across All Industrial Sites
OPTIMIZATION - INDUSTRY 4.0 DEPLOYED ACROSS ALL INDUSTRIAL SITES LEVER 1 LEVER 2Bernin 2 awarded LEVER 3 STANDARD, AI CLOUD COMPUTING AUGMENTED & AUTOMATION TO STRENGTHEN OPERATIONS “FACTORY OF OPERATOR SCALABILITY THE YEAR 2020” • State of the art industrial applications deployed: Automation, in Fr
Slide 99: From Actions to KPIs
FROM ACTIONS TO KPIs SOITEC PASIR RIS, SINGAPORE SOITEC BERNIN 3, FRANCE Pasir Ris vs. Bernin 2 cost per wafer (CPW) Pasir Ris RF-SOI yield ramp-up Bernin 3 POI ramp-up management Bernin 3 POI yield ramp-up CPW Pasir Ris CPW Bernin 2 Pasir Ris matching Bernin2 Yield reaching Ramp-up Yield reaching c
Slide 100: Sustainable Growth
SUSTAINABLE GROWTH REDUCING RESOURCE CONSUMPTION ACTING ON CLIMATE CHANGE ATTRACTIVE AND INCLUSIVE WORKPLACE • Achieved –29% energy consumption • 100% renewable energy in • Engaged in “1 Jeune, 1 Solution” per unit of production vs FY16 Bernin in FY22 French program: 100 young “below 26” hired over
Slide 101: Operations Takeaways
OPERATIONS TAKEAWAYS CAPACITY RAMP – SCALABLE AND OPERATING LEVERAGE THROUGH EXECUTION EXCELLENCE SUSTAINABLE AGILE OPERATION FOOTPRINT GROWTH AND INDUSTRY 4.0 © Soitec 2021. No copying or distribution permitted. PAGE 101 1 2 3 4 5 O P E R AT I O N S 6
Slide 102: Finance
06 FINANCE LÉA ALZINGRE Chief Financial Officer © Soitec 2021. No copying or distribution permitted. PAGE 102 1 2 3 4 5 6 FINANCE
Slide 103: Finance Outline
FINANCE OUTLINE 01 02 03 FY21 FY22 MID-TERM FINANCIALS OUTLOOK FINANCIAL MODEL © Soitec 2021. No copying or distribution permitted. PAGE 103 1 2 3 4 5 6 FINANCE
Slide 104: FY21 – Financial Highlights
01 FY21 – FINANCIAL HIGHLIGHTS STABLE REVENUES(1) STABLE EBITDA MARGIN(2) STRONG OPERATING CASH FLOW(3) Revenues in €M EBITDA in €M EBITDA as % in revenue Operating cash flow in €M +1% at constant -2% 34.3% exchange rates and perimeter as reported 31.0% 30.7% 598 584 185 179 +73% 174 444 152 101 59
Slide 105: FY21 Revenue Performance
01 FY21 REVENUE PERFORMANCE €M FY21 FY20 CHANGE VS FY20 % % at constant FX and scope 150/200mm wafer sales 277 276 +1% +4% 300mm wafer sales 277 294 -6% -3% Royalties and other revenues 30 28 +5% +6% ORGANIC Total revenue 584 598 -2% +1% GROWTH AT REVENUE BREAKDOWN +1% 5% 150/200mm wafer sales FY21
Slide 106: Gross Margin Evolution
01 GROSS MARGIN EVOLUTION 37.2% Gross margin as % in revenue 34.4% 32.7% 150/200 mm wafer sales in €M 31.5% 31.4% 300 mm wafer sales in €M 26.7% Royalties and other revenues in €M GROSS MARGIN TAILWINDS • Favourable raw material long term agreements • Production costs under control GROSS MARGIN HEAD
Slide 107: Current Operating Income
01 CURRENT OPERATING INCOME Operating income impacted by R&D investments and by continued efforts to structure the group €M FY21 FY20 CHANGE Revenue 583.8 597.5 -2% Net R&D expenses up 37%, Gross profit 183.5 195.4 -6% represents around 8% of revenue: as a % of revenue 31.4% 32.7% • Increased gross
Slide 108: Net Profit
01 NET PROFIT €M FY21 FY20 Other operating income: Current operating income 90.0 117.7 • In FY20, other operating income Other operating income and expenses 0.4 1.8 included a gain on the disposal of Operating income 90.4 119.5 an industrial site Net financial expenses (11.2) (4.7) Net financial los
Slide 109: Electronics EBITDA Margin Maintained Above 30%
01 ELECTRONICS EBITDA MARGIN MAINTAINED ABOVE 30% EBITDA in €M EBITDA as % in revenue 34.3% 29.2% 31.0% 30.7% 15.6% 16.7% 185.4 179.0 152.3 90.6 36.3 41.0 FY16 FY17 FY18 FY19 FY20 FY21 © Soitec 2021. No copying or distribution permitted. PAGE 109 1 2 3 4 5 6 FINANCE
Slide 110: Sharp Increase in Operating Cash Flow and Positive Free Cash Flows
01 SHARP INCREASE IN OPERATING CASH FLOW AND POSITIVE FREE CASH FLOWS €M FY21 FY20 31.6% increase in D&A, mainly resulting from continuous investments carried out (Industrial Operating income 90.4 119.5 capacity, R&D) Depreciation and amortization 59.9 45.5 Higher non-cash items mainly reflecting sh
Slide 111: Strong Increase in Cash Position
01 STRONG INCREASE IN CASH POSITION +€453.4M Net change in cash 416.5 (0.4) (0.3) Includes: 174.3 • €321M OCEANEs 2025 issue • €95M drawing on €200M loan facility granted by 644.4 Banque des Territoires (as part of Nano 2022) • €39M bank loan in (136.7) Singapore to finance tools 191.0 Cash and cash
Slide 112: Balance Sheet
01 BALANCE SHEET ASSETS - in €M 31 March 2021 31 March 2020 LIABILITIES AND EQUITY - in €M 31 March 2021 31 March 2020 Includes: • €10M CAPEX in Bernin 1 & 2 Intangible assets 99 87 Total equity 676 552 • €40M CAPEX in Bernin 3 Tangible assets 378 297 Long-term financial debt 612 193 • €67M CAPEX in
Slide 113: A Further Strengthened Financial Structure
01 A FURTHER STRENGTHENED FINANCIAL STRUCTURE +€124M 676 648 552 +€403M 245 31 March 2020 31 March 2021 31 March 2020 31 March 2021 SHAREHOLDERS’ EQUITY (€M) GROSS DEBT (€M) 644 +€453M 191 54 €(50)M 4 31 March 2020 31 March 2021 31 March 2020 31 March 2021 CASH AND CASH EQUIVALENTS (€M) NET DEBT (€M
Slide 114: Guidance FY22
02 GUIDANCE FY22 ~40% REVENUE GROWTH AT CONSTANT FX RATE ~32% EBITDA MARGIN ~€240M CAPEX STRONG GROWTH OF REVENUE: ELECTRONICS EBITDA MARGIN CONTINUING CAPACITY INVESTMENT ~$950M (€800M at 1.2) around +40% AROUND 32% at constant FX rate vs FY21 • Singapore for SOI 300mm ramp-up • Operating leverage
Slide 115: Mid-Term Financial Model
03 MID-TERM FINANCIAL MODEL REVENUE – Revenue will more than triple FY21 (Actual) FY22 FY26 (Model) between FY21 and FY26 to reach $2B FX rate @1.13 @1.20 @1.20 PROFITABILITY (@1.20 FX RATE) Revenue ($M) 668 ~950 ~2,000 – EBITDA in value more than x3 between FY21 and FY26 Revenue (€M) 584 ~800 ~1,70
Slide 116: CEO - Wrap-Up Session
CEO - WRAP-UP SESSION STRATEGIC VISION FINANCIAL MODEL FOR FY26 SUSTAINABILITY SUPPORTS FOR THE NEXT 5 YEARS OUR VALUE CREATION STRATEGY • Powerful megatrends • 3x revenues to ~$2B • Innovate towards a drive unprecedented sustainable economy semiconductor demand • ~35% EBITDA margin • Act to become
Slide 117: Thank You
CAPITAL MARKETS DAY 2021 THANK YOU