Siltronic Ag · XETR:WAF
Siltronic — Siltronic Ag Ord — Q3 2025 Earnings Presentation
18 slides from Siltronic's earnings presentation, Oct 28, 2025
Slide 1: Full-Year Outlook Confirmed Despite Soft Q3
FULL-YEAR OUTLOOK CONFIRMED DESPITE SOFT Q3 Michael Heckmeier & Claudia Schmitt October 28, 2025 © Siltronic AG
Slide 2: Key Messages of Today's Call
KEY MESSAGES OF TODAY'S CALL Q3 was the weakest quarter, 2025 Guidance confirmed driven by expected volume and specified shift and FX Focused on cost and cash Positive newsflow from management, sustaining AI and particular Memory strong customer proximity underline long term growth potential 2 Q3 20
Slide 3: Q3 2025 – Sales and Profitability Weakened as Anticipated
Q3 2025 – SALES AND PROFITABILITY WEAKENED AS ANTICIPATED 300 Sales in EUR mn 90 Capex in EUR mn -8.7% vs. Q2 2025 Mainly for new fab 21.9 EBITDA Margin in % -30 Net cash flow in EUR mn Q2 2025: 26.3% Q2 2025: EUR -83 mn -31 EBIT in EUR mn Stable Market share1 Q2 2025: EUR 24 mn ¹Semi market data YT
Slide 4: Financials Q3 2025
FINANCIALS Q3 2025 Volume shift and FX headwinds weigh on Q3 performance 4 Q3 2025 Conference Call Presentation © Siltronic AG
Slide 5: Q3 2025 Figures
Q3 2025 FIGURES Profit & Loss, in EUR million Comments qoq1 n Q3 2025 Q2 2025 9M 2025 Sales o Decline driven by lower wafer area sold due to a planned shift Sales 300 329 975 to Q4 and negative FX effects (EUR/USD 1.17 in Q3 vs. 1.13 Gross profit -4 60 111 EUR/USD in Q2) o Slightly negative price ef
Slide 6: Stable Balance Sheet Quality
STABLE BALANCE SHEET QUALITY Balance Sheet Composition, in EUR million Comments1 Sep 30, 2025 Dec 31, 2024 Fixed assets EUR -97 mn Assets 4,855 5,084 o Capex > depreciation, but offset by negative FX valuation effects as of the reporting date (mainly Singapore entities) Fixed Assets 3,759 3,856 Cash
Slide 7: Capex Significantly Down, Payments for Capex Again Exceeding Invest Level
CAPEX SIGNIFICANTLY DOWN, PAYMENTS FOR CAPEX AGAIN EXCEEDING INVEST LEVEL Capex and Payments for Capex, in EUR million Payment roll-over effects to 1,316 -117 2026 to be expected 1,199 1,074 -151 923 700 +177 523 +32 308 340 2022 2023 2024 ytd 2025 Capital expenditures Payments for capital expenditu
Slide 8: Net Debt with Annual Peak in Q3 2025
NET DEBT WITH ANNUAL PEAK IN Q3 2025 Cash / (Net) Debt Sep 30, 2025 Cash / (Net) Debt Dec 31, 2024 Interest in EUR million in EUR million 844 expenses in the 180 ballpark of EUR 50 mn 634 expected in 2025 127 Liquidity 664 Liquidity 507 incl. Syn loan incl. Syn loan (not drawn) (not drawn) Net debt
Slide 9: Market Development and How We Manage It
MARKET DEVELOPMENT and how we manage it 9 Q3 2025 Conference Call Presentation © Siltronic AG
Slide 10: Gradual Volume Recovery While Headwinds Persist
GRADUAL VOLUME RECOVERY WHILE HEADWINDS PERSIST Sales Trend yoy 2023 act 2024 act 2025e Prices LTAs as contracted but pricing pressure outside LTAs continues Volume Price / FX Strong headwind in Product Mix 2025 ~ EUR ~ EUR ~ EUR FX -60 mn -10 mn -50 mn1 Volume recovery driven by TOTAL 300mm to pers
Slide 11: Wafer Consumption 2025 Up to 8% on AI Momentum
WAFER CONSUMPTION 2025 UP TO 8% ON AI MOMENTUM INVENTORY HEADWINDS PERSIST BUT DECREASING Growth in wafer area consumption, in % yoy Split wafer consumption 2023 2024 2025 e by end use in 2024 (October) 22% Smartphones -2% 8% 3% 14% PCs -16% 2% 8% 15% Servers 11% 26% 23% 14% Industry 0% -5% 2% 17% A
Slide 12: FX Pressure Pushes 2025 Sales Below Prior-Year
FX PRESSURE PUSHES 2025 SALES BELOW PRIOR-YEAR MAJOR IMPACT IN H2 25 Sales 2023 – 2025e, in EUR mn 1,514 707 1,413 675 @ 2024 FX @ 2024 FX @ 2024 FX @ 2024 FX @ 2024 FX @ 2024 FX 2023 2024 2025 e Avg H/24 H1/25 H2/25 e EUR/USD 1.08 1.08 1.13 1.08 1.09 1.174 Chart for illustrative purposes only. Avg
Slide 13: Focusing on What We Can Control: Capex, Costs and Cash
FOCUSING ON WHAT WE CAN CONTROL: CAPEX, COSTS AND CASH Strict capex Cost Other cash discipline program measures From SD closure to Deferred capacity Full-scope cost comprehensive working spend, restrictive management, tackling capital management to project approvals all cost drivers dividend cuts 13
Slide 14: Capex Discipline: Again Significant Reduction in 2025
CAPEX DISCIPLINE: AGAIN SIGNIFICANT REDUCTION IN 2025 Capex, in EUR million Capex 2025 Ongoing focus on new Fab in SGP 1,316 262 222 Further reduction 138 – 158 in H2 underlines Capex discipline 523 360 – 380 Investments are adapted to market environment 2023 2024 2025 e Avg H/24 H1/25 H2/25 e Chart
Slide 15: Comprehensive Initiatives Tackle All Cost Drivers
COMPREHENSIVE INITIATIVES TACKLE ALL COST DRIVERS Cost program in place Temporary headwind from ramp cost of new 300 mm Fab Headcount Significant reduction by 10% despite ramp of ○ Continuation of our track record in ○ Additional fixed costs from the new fab¹ successful cost reductions new fab, whic
Slide 16: Technological Leadership Recognized with Multiple Awards
SILTRONIC’S TECHNOLOGICAL LEADERSHIP AND EXCELLENCE RECOGNIZED WITH MULTIPLE AWARDS IN THE LAST 12 MONTHS Best Carbon EPIC Supplier BEST in Value Best Supplier Reduction Award Award Award Partner Award TSMC, December 2024 Intel, April 2025 Samsung, September 2025 SSMC, September 2025 16 Q3 2025 Conf
Slide 17: Guidance Confirmed and Specified
GUIDANCE CONFIRMED AND SPECIFIED Sales EBIT Mid-single digit below 2024 Significant decline EUR/USD 1.17 for H2 2025 (Previous: EUR/USD 1.15) EBITDA Margin Capex Between 22% and 24% Between EUR 360 and 380 mn (Previous: 21% and 25%) (Previous: EUR 350 and 400 mn) Depreciation Net cash flow Between E
Slide 18: Financial Calendar and Investor Relations Contact
Financial Calendar and Events Nov 12, 2025 Nov 13, 2025 Nov 18, 2025 Dec 1, 2025 Jan 19, 2026 Feb 3, 2026 Mar 12, 2026 MKK, MS TMT BNP Paribas Berenberg European Kepler, German Preliminary FY25 Munich Conference, Exane Investor Conference 2025, Corporate Conference, FY25 Results Results Barcelona Fi