|Interview from easyBourse. Andre-Jacques Auberton-Herve
Chairman of Soitec
“Soitec does not have vocation to take part in the movement of consolidation which concerns its customers”
A comment on the evolution of your sales turnover in the second quarter?
We have just published a sales turnover of 89,7 million euros in the second quarter. On the whole of first half of the year, the growth arises to 53%, on line with our forecast of growth on the whole of the exercise.
You confirm the objective of a progression of about 50% of your incomes on 2006-2007. Which will be the engines of this growth?
Our strong growth returns to successes of our principal customers who fully draw the benefit from the advantages in terms of performance and reduction of consumption, associated to the advanced materials which we produce.
Your title played Russian mountains, losing 14% the 6/10 following remarks assimilated like a warning before regaining 9% of them the 9/10 in the tread of the denial brought by the direction on the loss of an American customer and the confirmation of the annual objectives. What inspires these movements to you?
We do not comment on the evolution of our stock exchange price, but we are certain prospects and attractivity in term of innovation of our products which remain unchanged. I am on the other hand afflicted with the irresponsibility of some in the propagation of rumours of loss of customer, completely unfounded.
With how much do evaluate you the sensitivity of the results of your company to the variations of the parity Euro/Dollar?
In waiting of our new factory in Singapore, our sensitivity to the variations of the dollar is inherent in our activity insofar as more than 80% of sales are made out in dollars, against only 50% of our costs.
Will you resort to instruments of cover to reduce the potential impact of the monetary variations?
We have already recourse to instruments of cover to cover our exchange rate risk in a nonspeculative step.
Soitec will appreciably reinforce its positions in Asia via the construction of a manufacturing unit in Singapore. Which is the objective and the amount of this investment?
The objective of this strategic investment is to have in horizon 2008 of a supplement industrial capacity to face the growth anticipated about 45% on average of our markets over the next years. On the whole, this investment will be about 350 million euros to arrive to full capacity.
Do you have similar projects of development on another continent?
At the present time, we do not have an other similar project.
The industry of the semiconductors was gained by fusion-acquisitions with the successive repurchase of Philips Semiconductor and Freescale. Does Soitec have vocation to take part in it?
This consolidation concerns our customers, Soitec remains a material supplier who does not have vocation to take part in it.
Your position of leader and the dispersion of your capital could cause vocations. Is your company opéable and how would react you on the assumption of an offer of purchase?
If it is true that the capital of Soitec is very open, it seems just convenient to to me to underline the strategic character of our products and our technology for our principal customers and partners.
In the capacity as principal shareholder of the company, do you estimate that the current valorization of Soitec correctly reflects the prospects with term short-means for the company?
We do not comment on our stock exchange price but will know that my engagement as a founder and a principal shareholder of the group is entirely dedicated to the success of our strategy in the short and medium term.
Which will be your policy as regards dividend this year?
Our strategy remains centered on an industrial model of strong growth which claims important investments. Our policy is thus unchanged, we will reinvest our results in new outputs.
Remarks collected by M.L.H.