The directors have congratulated the entire Semefab workforce on closing the Financial Year 2017 with a record result of greater than £100k per capita revenue generation and 10.5% Profit Before Tax.
Sales grew by 19% with MEMS remaining at 32%, CMOS&BiPOLAR at 45% (5% up on 2016) and Discrete Semiconductors at 23% (down 1% on 2016). Exports were 85.5% with Asia share up 4% and Europe up 2% whilst the US fell by 2% and the UK by 4%.
With the strong export performance, Allan James, Director of Sales & Marketing, told a delighted workforce that “the Financial Year 2018 would be a further year of strong growth, predicting 16% with MEMS representing the largest area of growth and sales to Asia increasing significantly by 9%.”
Allan James commented further, “We have also completed a ‘Line of Sight’ document to 2023 based on a review of the existing business and those products and processes in development. We are in receipt of advised future customer interest which indicates continued strong growth from MEMS/Medical MEMS and OPTO-IC with a CAGR (compound annual growth rate) of 12% per annum which will lead to a doubling of revenue in that time frame.
Semefab has benefitted greatly from the approximately 7% fall in the US Dollar to UK Pound exchange rate post the Brexit referendum since 60% of the company’s revenue is in US Dollars. This has had a strong influence on bottom line profitability as has the growth in sales which takes Semefab significantly beyond the break-even point of its 3 wafer fabs.
After some lacklustre years immediately following the 2008 financial crisis and the aftermath of uncertainty, confidence in the semiconductor industry has finally returned. “It’s a great time to be a UK manufacturer of advanced MEMS and semiconductor devices.”