26 July 2023

AIM: IQE

IQE plc

("IQE" or "the Group")

Trading Update

IQE, the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry, provides an unaudited pre-close Trading Update for the six months ended 30 June 2023.

Group trading in the period was in line with management expectations. Revenue for the first half is expected to be at least £52.0m, in line with market guidance.

The Group is continuing to effectively navigate the challenging macroeconomic environment, by managing costs and implementing its diversification strategy.  

The Group will report full (unaudited) interim results on 8 September 2023.

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Neil Rummings

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Paul Gillam

Richard Chambers

James Smith

Numis (Joint Broker)

+44 (0) 20 7260 1000

Simon Willis

Hugo Rubinstein

Iqra Amin

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: +44 (0) 7968 997 365

Dan Mahoney: +44 (0) 7311 369 815

ABOUT IQE

http://iqep.com

IQE is the leading global supplier of advanced compound semiconductor wafers and materials solutions that enable a diverse range of applications across:

·    Smart Connected Devices

·    Communications Infrastructure

·    Automotive and Industrial

·    Aerospace and Security

As a scaled global epitaxy wafer manufacturer, IQE is uniquely positioned in this market which has high barriers to entry. IQE supplies the global market and is enabling customers to innovate at chip and OEM level. By leveraging the Group's intellectual property portfolio including know-how and patents, it produces epitaxy wafers of superior quality, yield and unit economics.

IQE is headquartered in Cardiff UK, with employees across eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.