IQE PLC (LSE:IQE)
£ 0.1206 -0.003 (-2.43%) Market Cap: 116.65 Mil Enterprise Value: 185.45 Mil PE Ratio: 0 PB Ratio: 0.76 GF Score: 44/100
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Half Year 2020 IQE Plc Earnings Call Transcript

Sep 08, 2020 / NTS GMT
Release Date Price: £0.575 (-6.50%)
Andrew William Nelson
IQE plc - President, CEO & Executive Director

Good morning, everyone, and welcome to IQE's First Half 2020 Results Presentation. I'm Drew Nelson, Chief Executive. I have with me today, Tim Pullen, who's the CFO; and also Amy Barlow, who's Head of Investor Relations.

So I will give a brief introduction. I'll then hand over to Tim to take you through the detailed financials, and then I'll say a few words at the end about our strategic directions. So the usual disclaimer slide, and I hope you can all see it.

So I'll give a quick introduction and business update. I'm very pleased to report what we believe is a very strong set of first half results. Our revenues were GBP 89.9 million, which is comfortably ahead of the guidance we gave in the trading update in June, and that represents a 35% year-on-year increase. We had a slight ForEx tailwind of about GBP 2.4 million. But we're very pleased with the revenue performance of the group.

Because of our operational leverage, that's returned us to profitability with an adjusted operating profit of GBP 4.3 million.

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