Slide 1: Siltronic – a leading producer of silicon wafers: Q3/2016 Results
Siltronic – a leading producer of silicon wafers Q3/2016 Results © Siltronic AG 2016
Slide 2: Highlights Q3/2016: Financials
Highlights Q3/2016: Financials Sales of 237.0mn EUR (Q2/2016: 229.6mn EUR) Sales Growth of 3% 36.9mn EUR (Q2/2016: 35.1mn EUR), EBITDA Without negative FX effects* EBITDA would have been 43.9mn EUR EBITDA margin of 15.6% (Q2/2016: 15.3%) Margin Without negative FX effects* EBITDA margin would have b
Slide 3: Market Update
Market Update GDP GDP growth in China was stable at 6.7% y-o-y in Q2/2016 U.S. economy slowed down with 1.3% y-o-y in Q2’16 Eurozone GDP growth in Q2/2016 was at 1.6% y-o-y Silicon market Wafer market in Q3/2016 was slightly up q-o-q and showed a positive development y-o-y 300mm market was
Slide 4: Sales development driven by sequentially higher wafer volumes
Sales development driven by sequentially higher wafer volumes Sales, in EUR mn +3.2% Comments Positive 230.6 229.6 237.0 220.6 Volume growth q-o-q and 215.3 y-o-y stable ASP Q3 vs. Q2 Some tailwind from strong JPY Prices expected to stay stable in Q4 Negative ASP y-o-y down Q3 2015 Q4
Slide 5: EBITDA increased
EBITDA increased EBITDA, in EUR mn 15.3 15.6 Comments Positive 12.7 Volume growth q-o-q 10.8 10.7 ASP Q3 flat q-o-q Hedging losses* for 9-month 36.9 period decreased by 15.8mn 35.1 EUR to -19.4mn EUR y-o-y 29.3 23.2 23.6 Cost reduction on track Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 EBITD
Slide 6: EBITDA excluding FX effects 18.5% in Q3/2016
EBITDA excluding FX effects 18.5% in Q3/2016 EBITDA excl. FX effects*, in EUR mn 19.4 Comments 18.5 FX effects due to hedging 16.4 15.7 15.1 Q3/2016: EUR -7.0mn Q2/2016: EUR -2.7mn Q1/2016: EUR -9.7mn Q3/2015: EUR -15.5mn 44.8 43.9 33.7 37.8 Positive effects of strong 33.3 JPY on sales a
Slide 7: Positive development of net result
Positive development of net result Result and income tax, in EUR mn Comments net profit of EUR 3.9mn in -0.2 Q3 3.6 -2.7 4.2 3.9 income tax dropped 0.9 significantly in Q3 due to -1.7 tax credits -6.8 in Q4 current tax expense -5.1 will be back to a normal -9.4 -11.5 level -2.1 Q1 2016 Q2 2016
Slide 8: Equity ratio of 29% and strong net cash position of EUR 165mn
Equity ratio of 29% and strong net cash position of EUR 165mn Balance sheet, in EUR mn Sep 30, Dec 31, Comments Equity and Sep 30, Dec 31, Comments Assets 2016 2015 Sep 30, 2016 liabilities 2016 2015 Sep 30, 2016 Non-current 557.3 579.1 Equity 297.0 497.3 PP&E 524.0 542.9 Siltronic 290.4 500.5 27 in
Slide 9: Pension provision increased due to lower interest rates
Pension provision increased due to lower interest rates Pension provision, in EUR mn Comments 496 473 Changes in interest rates 429 influence evaluation of 379 pension provision 328 299 Change in interest rates 292 294 directly reflected in equity (OCI) Additional payments into pension scheme
Slide 10: Historically low discount rates inflate DBO; expected asset returns significantly higher
Historically low discount rates inflate DBO; expected asset returns significantly higher DBO and pension reserve as of Sept 30, 2016, in EUR mn IFRS IFRS interest uses bonds yields Pension Reserve 495 = 960 - 465 interest only, assets include bonds, rate equity, real estate and USA, mostly funded
Slide 11: Payments for CapEx above average in 2016
Payments for CapEx above average in 2016 Cash flow, in EUR mn Comments CapEx for investments in Q3/ Q2/ Q1/ Q3/ state-of-the-art crystal 2016 2016 2016 2015 pullers and further automation of production Cash flow from operating activities 41.0 19.1 28.8 25.5 sites Payments in Q1 partly relate to
Slide 12: Siltronic Outlook 2016 as per October
Siltronic Outlook 2016 as per October EBITDA margin slight improvement ROCE in the low to mid single-digit percentage range Free Cash Flow clearly positive, but below 2015 Sales year-on-year decrease in the low single-digit percentage range; strong JPY helps (update) R&D unchanged at approx. 7% of s
Slide 13: 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 Tel. +49 89 8564-3133 Financial Calenda
Slide 14: 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