Ansemy announced its third quarter results for the 2023 fiscal year: revenue for the third quarter was $2.1808 billion, GAAP and non GAAP gross profit margin were 47.3%, GAAP operating profit margin and non GAAP operating profit margin were 31.5% and 32.6%, respectively, GAAP diluted earnings per share were $1.29, and non GAAP diluted earnings per share were $1.39. Among them, the automotive business revenue set a record, increasing by 33% year-on-year to $1.2 billion.

Hassane El Khoury, President and CEO of Ansemy, said: Thanks to our rigorous operational model and execution capabilities, we have achieved solid performance again this quarter. This also indicates that even with a weak market, we still have business resilience. Ansemy will continue to drive structural optimization and efficiency improvement. Especially in our silicon carbide business, our advanced silicon carbide ultra large factory in South Korea has completed expansion, capable of producing 150mm and 200mm wafers

Previously, in terms of performance targets for the period from 2022 to 2027, Ansemy prioritized automobiles. The company expects a compound annual growth rate of 19% in the automotive business over the next five years, with main products including silicon carbide, IGBT, auxiliary driving (ADAS) related chips, power management and safety management chips required for electrification.

With automobiles as the main driving force, Ansemy expects annual revenue to grow at a compound annual growth rate of 10% to 12% from 2022 to 2027, and gross profit margin to increase from 49.2% to 53%.

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