IQE plc

Trading Update

IQE plc

(“IQE” or the “Group”)

TRADING UPDATE

Cardiff, UK
24 March 2020

2019 Performance in line with November trading update

Q1 2020 Trading in line with prior expectations

IQE plc (AIM: IQE) the leading supplier of advanced wafer products and material solutions to the semiconductor industry, provides a trading update for the year ended 31 December 2019 and for the first quarter of the 2020 financial year.

2019 Financial Summary *

	FY 2019 £’m	FY 2018 £’m
Revenue	140.0	156.3
Adjusted EBITDA **	16.2	26.4
Adjusted operating (loss)/profit **	(4.7)	16.0
Adjusted operating cashflow **	16.5	17.0
Capital investment (PP&E)	31.9	30.3
Net (debt)/funds***	(16.0)	20.8

*  This trading update represents a pre-announcement based on unaudited financial accounts. The Full Year Results for 2019 have been delayed due to advice from the FCA and FRC in the context of the evolving Coronavirus situation. A new reporting date will be determined based on future direction from the FCA and FRC.
              
**   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 which will be fully disclosed in the Full Year Results at a later date. The following highlights of the full year results is based on these adjusted profit measures, unless otherwise stated.