Slide 1: Siltronic AG FY 2022 Conference Call Presentation
Siltronic AG FY 2022 Conference Call Presentation March 9, 2023 © Siltronic AG
Slide 2: Highest sales and EBITDA in Siltronic's history
Highest sales and EBITDA in Siltronic’s history Full year 2022 comments Price increases due to shortages Overall positive FX impact Slight increase in output volume EUR 50 mn one-time income (Termination fee) Cost increase for energy, raw materials and supplies as well as higher depreciati
Slide 3: Highlights 2022: Financial figures FY 2022
Highlights 2022: Financial figures FY 2022 Sales EUR 1,805.3 mn (2021: EUR 1,405.4 mn) EBITDA EUR 671.6 mn (2021: EUR 466.4 mn) EBITDA margin: 37.2% (2021: 33.2%) EBIT EUR 495.6 mn (2021: EUR 316.9 mn) EBIT margin: 27.5% (2021: 22.5%) CapEx EUR 1,073.6 mn (2021: EUR 425.6 mn) Net cash flow EUR –395.
Slide 4: Electronics value chain continued to grow in 2022
Electronics value chain continued to grow in 2022 Increasing demand for electronic devices and new applications drive semiconductor growth, which in turn fuels silicon demand Electronics USD 1,855 bn Semiconductors USD 562 bn Semiconductor silicon wafers USD 13.8 bn Silicon for electronic applicatio
Slide 5: FabNext in Singapore with significant upside for Siltronic
FabNext in Singapore with significant upside for Siltronic Technical Technical Financial Financial State of the art plant Most cost efficient Siltronic fab Largest and most efficient Siltronic fab 80% of output during ramp phase secured with LTA’s, partially until 2030 Very high degree of
Slide 6: Siltronic Climate Action Program on track – 10% reduction of Scope 1 and 2 emissions in 2022
Siltronic Climate Action Program on track – 10% reduction of Scope 1 and 2 emissions in 2022 Climate Action Program CSR Targets until 2030 Siltronic‘s commitment to Science Based Target Reduce specific energy consumption initiative to limit global warming to 1.5°C: by 20%1 Goal until 2030: 50% CO2
Slide 7: Financials 2022
Financials 2022 © Siltronic AG
Slide 8: Record sales due to higher prices and FX tailwind in 2022
Record sales due to higher prices and FX tailwind in 2022 Sales, in EUR mn Ø FX Q4 Q1 Q2 Q3 Q4 474.0 472.1 rates 21 22 442.2 417.0 EUR / 1.14 1.12 1.07 1.01 1.02 376.6 USD EUR / 130 130 138 139 144 JPY Comments Positive ASP in EUR up y-o-y Favorable FX y-o-y Wafer area sold slightly up y-o-y
Slide 9: Higher COGS due to FX, inflation and depreciation
Higher COGS due to FX, inflation and depreciation Cost of sales, in EUR mn Gross profit, in EUR mn / Gross margin, in % 34.6 36.1 34.1 32.5 32.8 281,4 297,1 309,8 301,5 248,2 145.1 164.2 170.5 128.4 135.6 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Selling, R&D an
Slide 10: High US-Dollar and Japanese Yen exposure
High US-Dollar and Japanese Yen exposure FX exposure, in % FX sensitivity ~ 7% EBITDA ~ 13% Sales Unhedged 1 USD-/SGD-cent change ~ EUR 13 mn ~ EUR 9 mn ~ 60% ~ 80% 1 JPY change ~ EUR 1.7 mn ~ EUR 1.3 mn Sales Costs USD SGD JPY EUR Other currency effects (mostly hedging), Comments 05in EUR mn Stro
Slide 11: EBITDA increased EUR 205 million in 2022
EBITDA increased EUR 205 million in 2022 EBITDA, in EUR mn / EBITDA margin, in % Depreciation, in EUR mn 44.6 38.2 36.0 36.0 33.2 186.0 170.5 168.0 143.7 147.0 -34.5 -42.3 -44.2 -46.2 -43.3 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 131 136 EBIT, in EUR mn / EBIT
Slide 12: Net profit of EUR 434 million in 2022
Net profit of EUR 434 million in 2022 Net profit, in EUR mn EPS, in EUR 114.8 118.6 3.47 3.32 3.56 109.9 93.7 91.1 2.79 2.66 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Dividend payment, in EUR mn Comments Net profit of EUR 434 mn in 2022; thereof EUR 391 mn att
Slide 13: Low working capital due to high capex-related trade liabilities in Q4
Low working capital due to high capex-related trade liabilities in Q4 Working capital, in EUR mn, Inventories and contract assets, in EUR mn Working capital ratio to quarterly sales, in % Inventories Contract assets 80 61 63 61 292.2 60 46 224.5 277.9 38 246.2 263.7 40 277.2 290.1 230.2 193.7 178.0
Slide 14: Equity exceeds EUR 2.0 bn, with equity ratio of 51%
Equity exceeds EUR 2.0 bn, with equity ratio of 51% Equity, in EUR mn Provisions for pensions, Financial assets and debt, Equity ratio, in % in EUR mn in EUR mn 55.9 56.7 56.8 53.7 Net financial assets, in EUR mn 51.0 573 709 597 553 374 Interest rates IFRS USA 2.51% 3.22% 4.16% 4.85% 4.90% Germany
Slide 15: Net cash flow significantly negative due to ongoing invest projects
Net cash flow significantly negative due to ongoing invest projects Operating cash flow (OCF), in EUR mn Prepayments net (PP), in EUR mn including prepayments 273.7 92.6 100.5 88.5 98.2 197.0 191.1 189.8 150.0 -9.8 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 CF Ca
Slide 16: Major Capex in 2023 mostly for FabNext
Major Capex in 2023 mostly for FabNext Investment, in EUR mn Comments Capex guidance 2023 slightly above 2022 Mostly for FabNext Completion of Freiberg crystal pulling hall Capabilities for future design rules Capex guidance 2024 will decrease materially Conservative financing approach o
Slide 17: Three pillars of debt financing for capex projects including FabNext
Three pillars of debt financing for capex projects including FabNext € ESG-linked promissory note loan € 300 mn with terms of five, seven and ten years S$ Local bilateral loan in Singapore Dollar denomination S$ 450 mn, draw-down in 2022 and 2023 € European Investment Bank bilateral loan € 200 mn, d
Slide 18: Outlook 2023
Outlook 2023 © Siltronic AG
Slide 19: Siltronic is focused on growing 300 mm (6% in 2022) and attractive 200 mm business
Siltronic is focused on growing 300 mm (6% in 2022) and attractive 200 mm business Development of Total Wafer Demand per Diameter, in mn 300 mm equivalents per month 9 Strong demand 300 mm CAGR assumption 8 of 6%1 7 200 mm 6 SD (pol/epi) CAGR: 6.8% 5 4 Stable & 3 attractive 2 1 Mid-term decline 0 20
Slide 20: Silicon end markets driven by server content growth and automotive
Silicon end markets driven by server content growth and automotive Smartphones (22%)1 Industry (16%)1 / Automotive (14%)1 Softer y-o-y, but expected to improve Industrial mixed by application and region sequentially Auto expected to grow with increasing 5G drives content growth digitalizatio
Slide 21: Siltronic Outlook 2023 (as of March 9, 2023)
Siltronic Outlook 2023 (as of March 9, 2023) Sales significantly below prior year (Q1 2023: ~ 15 percent below Q4 2022) EBITDA margin significantly below prior year (Q1 2023: 30 to 33 percent) Depreciation around EUR 220 mn EBIT significant decrease Tax rate mid single-digit percentage range CapEx s
Slide 22: Contact and Additional Information
Contact and Additional Information Issuer and Contact Additional Information Siltronic AG ISIN: DE000WAF3001 Einsteinstraße 172 WKN: WAF300 D-81677 München Deutsche Börse: WAF Listing: Frankfurt Stock Exchange Investor Relations: Prime Standard Verena Stütze E-mail: investor.relations@siltronic.com
Slide 23: 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, future financial performance and other forward-looking statements
Slide 24: SILTRONIC AG | Einsteinstrasse
SILTRONIC AG | Einsteinstrasse 81677 Munich 172 Germany © Siltronic AG