https://www.iqep.com/media/2020/04/iqe-plc-2019-full-year-results...

https://www.iqep.com/media/2020/04/iqe-plc-2019-full-year-results/

IQE plc: 2019 Full Year Results

28 April 2020

IQE plc
(“IQE” or the “Group”
2019 FULL YEAR RESULTS​

Cardiff, UK
28 April 2020

Positioned for short-term resilience and long-term growth​

IQE plc (AIM: IQE) the leading supplier of advanced wafer products and material solutions to the semiconductor industry, announces its full year results for the year ended 31 December 2019, which are in line with the unaudited summary financials released in the trading update of 24 March 2020.
2019 Financials

	Column 1	Column 2	Column 3
0		FY 2019£’m*	FY 2018£’m*
1
2	Revenue	140.0	156.3
3
4	Adjusted EBITDA***	16.2	26.4
5
6	Operating (loss)/profit	(18.8)	8.7
7
8	Adjusted operating (loss)/profit	(4.7)	16.0
9
10	Reported (loss)/profit after tax	(35.1)	1.2
11
12	Adjusted diluted EPS(p)	(2.46)	1.38
13
14	Cash generated from operations (Adjusted)	16.5	17.0
15
16	Capital investment (PP&E)	31.9	30.3
17
18	Net (debt)/funds**	(16.0)	20.8

* All figures £’m excluding adjusted diluted EPS
** Net (debt) / funds excludes IFRS16 lease liabilities
Adjusted Measures: The Directors believe that the adjusted measures provide a more useful comparison of business trends and performance. Adjusted measures exclude certain non cash charges and one-off or non-operational items as detailed in note 4. The following highlights of the full year results is based on these adjusted profit measures, unless otherwise stated.
Financial Highlights

• Revenue of £140.0m (FY 2018: £156.3m) and an adjusted operating loss of £4.7m (FY 2018: profit of £16.0m) were in line with the November 2019 Trading Update guidance and are as reported in the Trading Update on 24 March 2020.
• Reported operating loss after tax of £35m (FY 2018: £1.2m profit) as a result of the adjusted operating loss, recognition of a share of joint venture losses of £5m and exceptional items including
  • non-cash balance sheet write-downs of assets of £9.5m
  • cash costs associated with a confidential legal dispute £4.3m
  • non-cash deferred tax asset write-downs of £10m
• Capital expenditure of £31.9m (FY 2018: £30.4m), as the Group completed the infrastructure phase of the capacity expansion programme
• Adjusted operating cashflow of £16.5m (FY 2018: £17.0m) and net debt (excluding lease liabilities) of £16.0m as at 31^st December 2019 near the lower end of £15-20m range highlighted in November 2019 Trading Update guidance and as reported in the March 24^th Trading Update.

More: https://polaris.brighterir.com/public/iqe/news/xml_news/story/xpgj5jx