Slide 1: Siltronic AG Q1/2017 Results
Siltronic AG Q1/2017 Results April 27, 2017 © Siltronic AG 2017
Slide 2: Highlights Q1/2017: Financials
Highlights Q1/2017: Financials Sales of EUR 258.0m (Q4/2016: EUR 246.3m) Sales +4.8% q-o-q EUR 53.0mn (Q4/2016: EUR 50.5m) EBITDA +5.0% q-o-q EBITDA margin of 20.5% (Q4/2016: 20.5%) Margin stable despite the usual higher cost base in Q1 compared to Q4 EUR 23.4m (Q4/2016: EUR 20.0m) EBIT +17.0% q-o-q
Slide 3: Market highlights
Market highlights Silicon wafer demand Wafer demand stays strong, exceeding supply Siltronic’s 300mm and 200mm production fully utilized since Q3/2016 Demand in SD wafers (<200mm) picked up; high utilization by now Customers want to negotiate expiring contracts at earlier stages and ask for longer c
Slide 4: Q1 sales development driven by increased prices, higher wafer volumes and some tailwind from USD
Q1 sales development driven by increased prices, higher wafer volumes and some tailwind from USD Sales, in EUR million +4.8% 258.0 246.3 Comments 237.0 229.6 220.6 Positive Volume growth y-o-y Higher wafer prices for 300mm and to some extent for 200mm in Q1 ASP up y-o-y and q-o-q Some tailwind from
Slide 5: Positive development of EBITDA and EBITDA margin due to higher ASP, cost reductions and decreasing hedging expenses
Positive development of EBITDA and EBITDA margin due to higher ASP, cost reductions and decreasing hedging expenses EBITDA margin in %; EBITDA in EUR million Comments 20.5 20.5 Positive Higher ASP y-o-y and q-o-q 15.6 15.3 Successful cost reduction program continued 10.7 Lower hedging expenses* 50.5
Slide 6: Positive development of net result due to price increases, higher wafer volumes and lower costs per wafer area
Positive development of net result due to price increases, higher wafer volumes and lower costs per wafer area Result and income tax, in EUR million Comments -4.0 Net profit of EUR 17.0m in Q1/2017 Driven by price increases, higher wafer volumes and 21.0 lower manufacturing costs 17.0 per wafer area
Slide 7: Equity ratio of 43.3%, Net financial assets of EUR 209m
Equity ratio of 43.3% Net financial assets of EUR 209m Balance sheet, in EUR million Mar 31, Dec 31, Comments Equity and Mar 31, Dec 31, Comments Assets 2017 2016 Mar 31, 2017 liabilities 2017 2016 Mar 31, 2017 Non-current 547.0 554.1 Equity 475.1 425.3 PP&E 514.6 519.8 Siltronic 481.4 431.9 25 inta
Slide 8: Pension provision increased y-o-y due to lower interest rates; however down q-o-q
Pension provision increased y-o-y due to lower interest rates; however down q-o-q Pension provision, in EUR million 496 473 429 395 379 371 Comments 292 294 299 Changes in interest rates influence evaluation of pension provision Change in interest rates directly reflected in equity (OCI) Q1 2015 Q2
Slide 9: Payments for CapEx partly financed by customer prepayments
Payments for CapEx partly financed by customer prepayments Cash flow, in EUR million Comments CapEx for investments in: Q1/ Q4/ Q1/ 2017 2016 2016 − state-of-the-art crystal pullers and further automation of Cash flow from operating activities 48.7 28.7 26.8 production sites − product mix thereof re
Slide 10: Siltronic Outlook 2017 (Update as of April 27, 2017)
Siltronic Outlook 2017 (Update as of April 27, 2017) EBITDA margin at least 23%: update ROCE substantially higher than in 2016, considerably higher than WACC: update Free Cash Flow clearly positive; by far above 2016 Sales at least EUR 1.06bn: update R&D unchanged at approx. 7% of sales Cost Positio
Slide 11: Contact and Additional Information
Contact and Additional Information Issuer and Contact Additional Information Siltronic AG ISIN: DE000WAF3001 Hanns-Seidel-Platz 4 WKN: WAF300 D-81737 München Deutsche Börse: WAF Listing: Frankfurt Stock Exchange Investor Relations: Prime Standard Petra Mueller email: petra.mueller@siltronic.com Tel.
Slide 12: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements contained in this presentation may be statements of future expectations and other forward-looking statements that are based on management's
Slide 13: Siltronic AG, Hanns-Seidel-Platz
SILTRONIC AG | Hanns-Seidel-Platz 81737 München 4 Deutschland © Siltronic AG 2017