Soitec’s solar revenues rise in H1 FY 2014/15

Oct 21, 2014 - French silicon-on-insulator wafers maker Soitec (EPA:SOI) said on Monday its solar division sales had jumped to EUR 35.2 million (USD 45m) in the six months ended September from EUR 700,000 a year earlier.

In a statement on Monday, the company explained that the improvement is a result of revenue contributions from the 44-MWp Touwsrivier concentrator photovoltaic (CPV) project in South Africa. In March, Soitec said the scheme had satisfied the milestones set for commissioning 50% of the total capacity. The plant is scheduled to become fully operational by end-November.

Soitec’s total consolidated revenues in the first half of fiscal 2014/15 increased by 16.5% to EUR 106 million. In spite of the better sales figures, the firm expects to book an operating loss of about EUR 75 million for the period. A year ago, the deficit stood at EUR 71.9 million.

Looking ahead, the French firm expects to “significantly” reduce its operating loss in the second half of the fiscal year on a yearly basis, it said, without mentioning any figures. It will publish a detailed financial report on November 19.

(EUR 1.0 = USD 1.281)

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