X-FAB Silicon Foundries SE (OTCPK:XFABF) Q2 2024 Earnings Conference Call July 25, 2024 12:30 PM ET
Company Participants
Rudi De Winter - CEO
Alba Morganti - CFO
Conference Call Participants
Robert Sanders - Deutsche Bank
Trion Reid - Berenberg
Emmanuel Petit - Oddo BHF
Operator
Welcome to the X-FAB Q2 2024 Results Conference Call. My name is Allen, and I will be your coordinator for today's event. Please note, this conference is being recorded and for the duration your lines will be on listen-only. [Operator Instructions].
I will now hand you over to your host, Rudi De Winter, CEO to begin today's conference. Thank you.
Rudi De Winter
Thank you, welcome everyone. Today in the conference call we also have Alba Morganti, our CFO. In the first quarter 2024, sorry in the second quarter 2024, the revenues were $205 million, down 9% year-on-year and 4% quarter-on-quarter, which is in-line with the guidance of $200 million to $210 million.
Revenues in the core markets, automotive, industrial, medical accounted $190 million, down 4% year-on-year, representing though a whole time record high with respect to the share of total revenues in the portfolio. The second quarter was marked by a combination of developments. On the one-end, demand for 200-millimeter CMOS technologies remain high and the allocation of available capacities continued.
In particular, the continued ramp of X-FAB popular 180-nanometer automotive technology at X-FAB France contributed to the automotive growth in the second quarter with revenues amounting $142 million, up 9% year-on-year.
The second quarter CMOS business totaled $166 million, down 8% compared to the same quarter last year, and the decline reflects the demand weakness for 150-millimeter CMOS technologies following inventory corrections in the industrial end-markets.
As anticipated, silicon carbide revenue for the second quarter declined by 33% year-on-year to $11.6 million after the low bookings