ST delivers ‘strong finish’ to 2017 as sales grow by 19.7%

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STMicroelectronics has reported that net revenues for its 2017 financial year increased 19.7% to $8.35billion, driven by a 41.4% growth in revenues from its Analog, MEMS and Sensors Group. A significant increase in demand for general purpose MCUs saw revenues from the microcontrollers and digital ICs group (MDG) grow by 15.8% compared to 2016. Strong growth was said to have been seen across all product groups and all regions.

“ST delivered a strong finish to 2017,” said outgoing president and CEO Carlo Bozotti, pictured. “Fourth quarter net revenues were up 32.6% year-over-year with double-digit growth across all product groups, gross margin reached 40.6% and operating margin was at 16.5%.

“This successful year also marked the 30th anniversary of the formation of ST. We celebrate this milestone with a solid product leadership in IoT, smartphones, industrial and smart driving applications, a strong market position with major customers and … a world-class team of engaged employees.”

Highlights of the year were said to include the automotive and discrete group’s design win from a leading European car maker for the Chorus SPC58 32bit automotive MCU, which contains the most advanced security subsystem. Meanwhile, MDG announced a number of design wins, including slots for 15 STM32 MCUs in a robotic lawn mower platform.

“In order to support our anticipated product portfolio mix and to fuel strong revenue growth in the second half of 2018 compared to the first half, we expect to invest this year approximately $1 to $1.1bn,” Bozotti asserted.