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Investing.com -- British chipmaker IQE PLC (LON:IQE) said on Tuesday it expects revenue for fiscal 2025 (FY25) to be in line with market forecasts, as it shifts focus toward a potential divestment of its operations in Taiwan.
“Global markets are being impacted by macroeconomic uncertainty and as a result, some end customer demand is being fulfilled with existing inventory,” the company noted, adding that this trend was evident in the first quarter but is expected to normalize in the second half of the year.
The Cardiff, Wales-based IQE, which supplies compound semiconductor wafers used in facial recognition sensors for iPhones, said it currently sees no direct impact from U.S. tariffs.
"There is currently no direct impact to IQE from the implementation of U.S. tariffs, however developments are being closely monitored and options are being explored with both suppliers and customers to mitigate any potential risk," the firm said.
IQE is projected to report revenue in a range of 115.1 million pounds ($151.9 million) to 123 million pounds in the current fiscal year to March 2026, per a company-provided consensus.
IQE reported an adjusted EBITDA of £8.1 million for fiscal 2024, up 88% from £4.3 million a year earlier, driven by ongoing and prior cost-saving measures. The adjusted EBITDA margin improved to 7% from 4% in FY 2023.
The company posted a reported operating loss of £33.0 million, widening from a £25.8 million loss in the previous year.
IQE confirmed Jutta Meier as its new CEO.