Siltronic Ag · XETR:WAF

Siltronic — Q3 2015 Earnings Presentation

12 slides from Siltronic's earnings presentation, Oct 29, 2015

  1. Slide 1: Q3 2015 Conference Call Presentation

    Q3 2015 Conference Call Presentation Dr. Christoph von Plotho, CEO Rainer Irle, CFO October 29, 2015

  2. Slide 2: Disclaimer

    Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements and information contained in this presentation may relate to future expectations and other forward-looking statements that are based on man

  3. Slide 3: Q3: Lower Volume qoq, Increased CapEx and High Gross Margin

    Q3: Lower Volume qoq, Increased CapEx and High Gross Margin KPIs, in mn EUR Q3 2014 % YoY Q2 2015 Q3 2015 % QoQ Sales 216.0 6.8 246.7 230.6 -6.5 Gross margin 9% - 19% 20% - EBITDA 33.2 -11.7 31.4 29.3 -6.7 EBIT -7.7 n.a. 0.2 0.3 50.0 Net result for the period -12.2 49.2 -7.0 -6.2 -11.4 EPS in € -0.3

  4. Slide 4: Growth for Semiconductors and Silicon in 2015 Lower than Expected Earlier that Year

    Growth for Semiconductors and Silicon in 2015 Lower than Expected Earlier that Year  Customers reduced their expectations for FY 2015  IHS expects only 0.4% yoy wafer area growth; Gartner still expects ~4% yoy  Siltronic’s sales declined 6% qoq following inventory adjustments in the value chain i

  5. Slide 5: High Single Digit Growth for FY Sales Expected Driven by FX

    High Single Digit Growth for FY Sales Expected Driven by FX Q3 2015 Comments 2015 Challenges and Opportunities  Sales lower qoq due to volume  IHS expects wafer area growth only at 0.4% yoy  Prices in contract currency flat qoq  Lower volume in H2 driven by inventory  Cost roadmap on track adju

  6. Slide 6: Q3 Sales Increased by 7% yoy but Impacted by Lower Volume qoq

    Q3 Sales Increased by 7% yoy but Impacted by Lower Volume qoq Sales, in mn EUR Comments  Volumes significantly up yoy 7% YoY for all diameters; but decrease compared to Q2, 239 247 mainly 300 mm 223 231 216  Prices stable qoq  Prices yoy up in EUR due to stronger USD Q3 2014 Q3 2015 Q3 2015 - Con

  7. Slide 7: EBITDA Margin qoq Stable at 13% Despite Lower Volume

    EBITDA Margin qoq Stable at 13% Despite Lower Volume Comments EBITDA, in mn EUR EBITDA margin  EBITDA impacted by lower 15% 18% 17% 13% 13% volumes and FX effects 39 40  Cost reduction program on track 33 31  FX losses (other operating 29 income and expenses) of 15 mn EUR reducing EBITDA margin b

  8. Slide 8: Favorable FX Development however Significant Offset by Hedging Losses

    Favorable FX Development however Significant Offset by Hedging Losses FX Exposure, in mn EUR Actual FX Rate and Hedging Rate, EUR / USD Illustrative (~50 mn EUR) (~10 mn EUR) Highly correlated Loss at Revenue Cost 1.10 USD / EUR 1.50 SDG / EUR USD SGD JPY EUR 135 JPY / EUR $1ct change ↓ (1.11 €/$ →

  9. Slide 9: EBITDA Reduced by Hedging and FX Transaction Effects

    EBITDA Reduced by Hedging and FX Transaction Effects EBITDA, EBITDA Margin (in %) and FX Impact, in mn EUR Q3 2014 Q2 2015 Q3 2015 EBITDA 33 31 29 Margin 15% 13% 13% Hedging 1 -13 -12 FX Transaction 7 -5 -3 EBITDA (excl. hedging & FX transaction) 25 49 45 Margin 12% 20% 19% Q3 2015 - Conference Call

  10. Slide 10: Pension Provision Stable – Equity Ratio at 48 %

    Pension Provision Stable – Equity Ratio at 48 % Balance Sheet, in mn EUR Dec. 31, Sep. 30, Change Dec. 31, Sep. 30, Change Assets Comments Equity and liabilities Comments 2014 2015 in % 2014 2015 in % Non-current 609.0 560.5 -8.0 Equity 311.8 501.7 60.9 Depreciation higher IPO and pension PP&E 571.7

  11. Slide 11: Pension Provisions Stable due to Flat Interest Rates

    Pension Provisions Stable due to Flat Interest Rates Pension Provisions, in mn EUR IFRS Interest Rate  United States: 4.8% 3.8% 3.6% 4,3% 4,2%  Germany: 3.8% 2.3% 1.65% 2.7% 2.8% 429 328 292 294 185 2013 2014 Q1 2015 Q2 2015 Q3 2015 Q3 2015 - Conference Call October 29, 2015 Company Confidential 1

  12. Slide 12: Issuer, Contact and Additional Information

    Issuer, 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 Tel. +49 89 8564-3133 Financial Calendar FY 2

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