X-Fab Silicon Foundris Se (XFABF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to XWeb Q2 2024 Result Conference Call. My name is Alan and I will be your coordinator for today's event. Please note this call has been recorded and for the duration your lines will be on listen only. However, you will have the opportunity to ask questions at the end. This can be done by pressing star 1 on your telephone keypad. If you require assistance at any time, please press star 0 and you will be connected to an operator. I will now hand you over to your host, Rudy De Winter, CEO, to begin today's conference. Thank you. Thank you. Welcome, everyone. Today in the conference call, we also have Alba Morganti, CFO. In the first quarter of 2024, sorry, in the second quarter of 2024, the revenues were $205 million. down 9% year-on-year and 4% quarter-on-quarter, which is in line with the guidance of 200 to 210 million. Revenues in the core markets, automotive, industrial, medical accounted 190 million, down 4% year-on-year, and representing, though, a whole-time record high with respect to the share of total revenues in the portfolio. The second quarter was marked by a combination of developments. On the one hand, demand for 200-millimeter CMOS technologies remain high, and the allocation of available capacities continued. In particular, the continued ramp of XFAB Popular 180-nanometer automotive technology at XFAB France contributed to the automotive growth in the second quarter, with revenues amounting 142 million, up 9% year on year. The second quarter CMOS business totaled 166 million, down 8% compared to the same quarter last year, and the decline reflects the demand weakness for 150 millimeter CMOS technologies following expected inventory corrections in the industrial end markets. As anticipated, silicon carbide revenue for the second quarter declined...