Report
Guy Sips

X Fab Silicon Foundries EV FIRST LOOK : Nice 1Q25 +8% q/q revenue & 24% robust EBITDA margin

In 1Q25 X-FAB saw a better than expected 8% sequential increase in revenue and a robust EBITDA margin of 24%. X-FAB indicated that although geopolitical tensions pose challenges for the semiconductor industry, they also offer new opportunities for them due to their global presence across all major continents. X-Fab is confident in its capacity to navigate these challenges. They stress that their specialty technologies address societal megatrends and will continue to be in demand.

We maintain our € 6.3 Target Price and Accumulate rating for now but will update our model after the confcall of later today.
Underlying
X-FAB Silicon Foundries SE

X Fab Silicon Foundries EV is a Belgium-based company primarily engaged in the semiconductors industry. The Company focuses on the design and manufacture of silicon wafers for mixed-signal integrated circuits (ICs). Its products are integrated with additional features, such as high voltage option, embedded non-volatile memory, optical, radio frequency (RF) and bipolar elements, as well as microelectromechanical sensors. The Company distributes silicon wafers for various applications, including automotive, industrial, medical, as well as consumer electronics and mobile communications sector. The Company operates in a number of countries, such as Germany, France, Malaysia and the United States.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Guy Sips

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