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By Nathan Vifflin
AMSTERDAM (Reuters) – French semiconductor materials supplier Soitec on Tuesday withdrew forecast targets for its new fiscal year and the medium term, following a multi-year slump in automotive and industrial chip demand.
“Given the current reduced visibility and market uncertainties, the group withdraws any guidance, whether related to all or part of its activities”, it said in a statement, adding it will only guide on a quarterly basis.
It expects first-quarter revenue to fall 20% year-on-year at constant exchange rates, against the 121 million euros ($137.1 million) it reported last year.
It also said in a separate statement that Chief Financial Officer Lea Alzingre will step down with immediate effect and will be replaced by Albin Jacquemont, formerly the finance chief of divisions of French groups Carrefour, Suez and Darty.
“(Jacquemont) has led major financial transformations and delivered significant value through operational performance improvement, cash-flow optimization and M&A execution,” Soitec said in a statement.
The group will address investors and analysts on Wednesday at 1200 GMT at an event to present its full-year earnings.
It said in February it saw limited growth for 2026 and cut its 2025 guidance as semiconductor wafer customers in the automotive and consumer electronics industries hit the brakes on deliveries amid worsening market conditions.
($1 = 0.8828 euros)
(This story has been corrected to show that Jacquemont was the finance chief of divisions of the French groups, not CFO of the groups, in paragraph 4)
(Reporting by Nathan Vifflin in Amsterdam; Editing by Jan Harvey)
