In this video, Tim Pullen, IQE’s CFO, describes how IQE is responding to the COVID-19 crisis. He discusses how IQE has been affected, explaining that the business has seen little impact on trading so far while recognising it is unlikely to be immune from the economic consequences of the crisis in the longer term. He outlines IQE’s liquidity position, explaining that net debt reduced in Q1 with working capital management and reduced capex providing further levers to support liquidity and the company’s credit line, if required. He explains why it is important that IQE maintains R&D investment, before discussing the key actions the leadership team is taking to manage the business and stay connected at this time.
IQE is the leading supplier of epitaxial compound semiconductor wafers globally. The principal applications include radio frequency semiconductors, devices for optical networks, vertical cavity lasers, infrared semiconductors and power electronics.