IQE (IQE) Trading Update summary

Trading update

• Full year 2024 revenue expected to be around £115m, remaining broadly flat year-on-year due to weak consumer demand in key sectors.

• Adjusted EBITDA for 2024 anticipated to be at least £5m, reflecting ongoing market softness.

Strategic review

• Board to conduct a comprehensive review of the asset base to strengthen capital position and invest in core operations.

• All strategic options for Taiwan operations, including a full sale, are being considered, with Lazard advising.

• Focus remains on cost reduction, profitable growth, customer service, and maximizing shareholder value.

Proposed financing

• Negotiations underway for up to £15m in short-term financing from Lombard Odier via a convertible loan note at 15p per share.

• Ongoing constructive dialogue with HSBC; no further equity raise expected if discussions progress as planned.