X-Fab Silicon Foundris Se (XFABF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the X-Fab second quarter 2026 results conference call. The speakers will be Damien Macq, CEO, and Alba Morganti, CFO. For the first part of the conference call, the participants will be in listen-only mode. During the question and answer session, participants are able to ask questions by dialing pound key 5 on their telephone keypad or through the hand raising option on the player. I will now hand the conference over to Damien Macq, CEO. The floor is yours. Please, go ahead. Thank you, Gaïa. Thank you, everyone. Good evening, everyone, and thank you for joining us today. The second quarter of 2026 showed another quarter of disciplined execution in a market environment that remains mixed. The revenue came in at 199.8 million USD, down 7% year-over-year and up 2% sequentially. Excluding revenue recognized over time, revenue was 196 million USD within the guidance. Booking reached 173.3 million USD, up 2% quarter-on-quarter. while backlog ended at $291.8 million. Importantly, excluding the temporary impact of the Erfurt end-of-life program, our underlying book-to-bill ratio returned above for the first time since Q2 2024, providing an encouraging sign that demand conditions are gradually improving. Our core markets of automotive, industrial, and medical represented 93% of revenue, totaling 182.1 million US dollars. Automotive revenue was 160 million US dollars, down 19% year-over-year, and 5% sequentially, reflecting continued inventory normalization. However, booking improved significantly and automotive book-to-bill reached its highest level in almost two years. Combined with a growing number of design wins, this supports our view that the market is gradually recovering. Industrial revenue was $45.2 million, down 4% year-over-year and ...