Siltronic Ag · XETR:WAF
Siltronic — Investor Presentation (March 2025)
31 slides from Siltronic's investor presentation, March 2025
Slide 1: Set to Grow – Investor Presentation March 2025
SET TO GROW Investor Presentation March 2025 © Siltronic AG
Slide 2: Siltronic at a Glance
SILTRONIC AT A GLANCE 4,400 50+ employees years of history worldwide in silicon technologies 4 Supplier world-class to top production sites semiconductor producers 1.4 26 billion EUR percent sales in 2024 EBITDA margin in 2024 2 Investor Presentation © Siltronic AG
Slide 3: 50+ Years of History – A Story of Success and Innovation
50+ YEARS OF HISTORY – A STORY OF SUCCESS AND INNOVATION 1968 1984 1995 1999 2006 2015 2019 2023 Foundation of First 200 mm Acquisition of Start of 200 mm Foundation of 50:50 Siltronic Inauguration of the Inauguration of Wacker- wafers at Freiberg fab production at JV with Samsung executes new cryst
Slide 4: Our International Production Network Serves Customers Around the Globe
OUR INTERNATIONAL PRODUCTION NETWORK SERVES CUSTOMERS AROUND THE GLOBE Singapore Singapore 300 mm volume production in 200 SSW CP 300 mm SSP mm Germany & Singapore Germany Germany (Burghausen, Freiberg) R&D hub in Burghausen 300 ≤150 CP mm mm Leading USA USA (Portland / Oregon) Edge 200 production m
Slide 5: The Wafer Suppliers Are Fueling the Whole Electronics Value Chain
THE WAFER SUPPLIERS ARE FUELING THE WHOLE ELECTRONICS VALUE CHAIN Silicon for electronic Semiconductor Semiconductors End markets applications silicon wafers device makers USD >5,000 bn USD 1.3 bn USD 11.5 bn USD 621 bn Servers / AI Smartphones Microsoft, Apple, With fabs Google, aws, Samsung… Samsu
Slide 6: Siltronic Is Well Positioned as the Only Western-Based Wafer Manufacturer
SILTRONIC IS WELL POSITIONED AS THE ONLY WESTERN-BASED WAFER MANUFACTURER Global Sumco Wafers Around 80% of the market is served by the Top 5 Top 5 Wafer producers Only western based wafer Shin Etsu SK Siltron manufacturer Source: Q1-Q3 2024 Quarterly revenue reports by SEMI reporting companies with
Slide 7: Wafer Demand Growth Expected to Continue (CAGR 4-5%)
WAFER DEMAND GROWTH EXPECTED TO CONTINUE (CAGR 4-5%), DRIVER 300 mm WAFERS Wafer Demand per Diameter in mn 300 mm equivalents CAGR 6% for 300 mm CAGR 1% for 200 mm Source: Siltronic estimates 7 Investor Presentation © Siltronic AG
Slide 8: Content Increase Drives 7% Growth in Silicon Area End Market
CONTENT INCREASE DRIVES 7% GROWTH IN SILICON AREA END MARKET Consumption of wafers by end use 2024, in % Growth in demand for wafer area 2025 vs. 2024, in % Server Clear content growth Smartphones 22 4 due to AI PCs 14 5 Servers 15 23 Smartphones Industrial 14 3 AI supports replacement and Automotiv
Slide 9: Well-Diversified and Resilient Product Mix in All Three Semi-Segments
SILTRONIC HAS A WELL-DIVERSIFIED AND RESILIENT PRODUCT MIX IN ALL THREE SEMI-SEGMENTS Demand by segments in % of total demand in 2024 Leading Edge Supplier Memory 37% Logic 39% Power Leading position Power/Others 24% Market Source: Siltronic Marketing 9 Investor Presentation © Siltronic AG
Slide 10: Megatrends Will Drive Wafer Demand
MEGATRENDS WILL DRIVE WAFER DEMAND Siltronic is well positioned to Autonomous support each vehicles & Digitalization megatrend Electromobility All segments will participate and Security Renewables Power with over proportional growth Key benefits Artificial from strategic focus on Industry 4.0 Leadin
Slide 11: Electromobility and AI Are Pushing Wafer Demand
FOR EXAMPLE: ELECTROMOBILITY AND AI ARE PUSHING WAFER DEMAND Silicon content between combustion engine and Silicon content between standard electrical vehicle server vs. AI server in cm² per server in cm² per car +60 to +100% Up to 8x Combustion 1 engine Electrical2 vehicle Standard Server AI Server
Slide 12: Flagship Project: Inauguration of New 300 mm Fab in Singapore
FLAGSHIP PROJECT: INAUGURATION OF OUR NEW 300 mm FAB IN SINGAPORE TOOK PLACE IN JUNE Facts EUR 2 billion capex until 2024, in 2025 clearly reduced 2025 focus on key prime customer qualifications expected by mid 2025 Group EBITDA margin above 50%+ mid-term First time 300 mm epi in Singapore Up to 80%
Slide 13: In Freiberg We Further Improved Product Mix Fueled by Investments
IN FREIBERG WE FURTHER IMPROVED PRODUCT MIX FUELED BY INVESTMENTS Every 3rd to 2nd semiconductor in the Intel* EU is from this region Investments of more than EUR 1 bn since 1995 by Siltronic Leipzig Infineon Tsmc GlobalFoundries Bosch First-class Dresden geographical position in light of EU ambitio
Slide 14: Wafer Production Process
WAFER PRODUCTION PROCESS 14 Investor Presentation © Siltronic AG
Slide 15: Strong Focus on Growth Drivers R&D and Innovation
STRONG FOCUS ON GROWTH DRIVERS R&D AND INNOVATION R&D Partnering with leading innovation platforms R&D Innovation Strategy hub in Burghausen ○ Stay one generation ahead as a Technology Leader 450 R&D employees ○ Focus on Leading Edge and Power + = 1,900 ○ Find new business opportunities and expand o
Slide 16: Siltronic Has a Proven Track Record as a Technology Leader
SILTRONIC HAS A PROVEN TRACK RECORD AS A TECHNOLOGY LEADER 2002 2005 2007 2009 2011 2013 2016 2018 2020 2022 2024 65 nm 65 nm 45 nm 32 nm 22 nm 8 nm 10 nm 8 nm 5 nm 3 nm 2 nm 2004 2006 2008 2009 2012 2014 2016 2019 2021 2023 45 nm 32 nm 22 nm 16 nm 10 nm 16 nm 5 nm 3 nm 2 nm 14 A R&D Start Commercia
Slide 17: Key Ingot and Wafer Properties Define the Wafer Specification
A NUMBER OF KEY INGOT AND WAFER PROPERTIES DEFINE THE WAFER SPECIFICATION AND ITS FURTHER USE BY THE CUSTOMER DATA 17 Investor Presentation © Siltronic AG
Slide 18: Purity and Flatness Requirements for Wafers Are Extreme
PURITY AND FLATNESS REQUIREMENTS FOR WAFERS ARE EXTREME, AS SCALING THEM INTO THE MACRO WORLD SHOWS Particles Flatness Particle size specified in the nm range. Requirements 20 nm on a wafer are equivalent to the height of a leaf are equivalent to a maximum of 10 grains of sand on the surface of Lake
Slide 19: Outlook and Financial Strength
OUTLOOK AND FINANCIAL STRENGTH Our ambitions until 2028 19 Investor Presentation © Siltronic AG
Slide 20: 2025 Guidance
2025 GUIDANCE Sales EBIT In the region of 2024¹, yoy no growth Significant decline expected, H1 2025 high single digit below H2 2024 EBITDA Margin Capex Between 22% and 27% Between EUR 350 and 400 mn Depreciation Net cash flow Between EUR 380 and 440 mn Significantly improved compared to previous ye
Slide 21: Significant YoY Reduction in 2024 Capex, Further Cuts Planned for 2025
SIGNIFICANT YOY REDUCTION IN 2024 CAPEX, WITH FURTHER CUTS PLANNED FOR 2025 Capex, in EUR million Capex 2025 1,316 Ongoing focus on new Fab in SGP 1,074 523 426 350 – 400 Capex CF Payments 2024/2025 188 clearly exceeding invest level 2020 2021 2022 2023 2024 2025 Chart not to scale 21 Investor Prese
Slide 22: Debt Repayment Starting in 2025
DEBT REPAYMENT STARTING IN 2025 Debt financing instruments, Maturity profile of debt financing in EUR million in EUR million Prepayments Syn loan of EUR 57 mn expected 180 SGP to be refunded in 2025 310 Syn loan ∑ 2028 200 2025 2026 2027 – 2032 1,560 EIB 200 65 105 250 1.140 SSD 390 SSD 280 Interest
Slide 23: Navigating Soft Demand by Cost Efficiency and Cash Program
NAVIGATING SOFT DEMAND BY COST EFFICIENCY AND CASH PROGRAM Cash and Cost reduction measures Major cost items 2025 Production Capex Depreciation focus on productivity and Clearly reduced due to efficiency progress of new Fab and strict capex control Labor Labor Working Capital Direct headcount adjust
Slide 24: ESG @ Siltronic
ESG @ SILTRONIC Clear commitment to an emission-free future 24 Investor Presentation © Siltronic AG
Slide 25: Siltronic Is Enabling Technologies for a Sustainable Future
SILTRONIC IS ENABLING TECHNOLOGIES FOR A SUSTAINABLE FUTURE Power focus Leading edge focus Strategy on leading edge and Power chips are crucial for power wafers supports New chip generations sustainability strategy decarbonization and increase energy efficiency enable renewable and need less power e
Slide 26: Ambitious Targets and Global Commitments Keep Us Going
AMBITIOUS TARGETS AND GLOBAL COMMITMENTS KEEP US GOING Siltronic supports the Climate – Scope 1+2 10 principles of the UN Global Compact. CO2 emissions 2030: -42%1 We contribute to the sustainable 2045: Net zero2 development goals of the UN. Status 2024: -27% As a supplier to the electronics industr
Slide 27: Sustainability Highlights
SUSTAINABILITY HIGHLIGHTS USA: GERMANY: Construction of Power Purchase photovoltaic system Agreement starting completed in 2024 from 2024, with annual SINGAPORE: volume of 60 GWh RBA Platinum Award for results of sustainability audit in 2024 27 Investor Presentation © Siltronic AG
Slide 28: The Siltronic Executive Board
THE SILTRONIC EXECUTIVE BOARD Dr. Michael Heckmeier Claudia Schmitt Klaus Buchwald CEO CFO COO o CEO since May 2023 o CFO since July 2023 o COO since June 2024 o 25 years at Merck o 15 years at Siltronic o 21 years at Infineon o 11 years at Wacker Chemie AG o 4 years at Rohde & Schwarz o Studied phy
Slide 29: Executive Summary
EXECUTIVE SUMMARY 29 Investor Presentation © Siltronic AG
Slide 30: Key Takeaways – Clear Commitment to Profitable Growth as a Technology Leader
KEY TAKEAWAYS – CLEAR COMMITMENT TO PROFITABLE GROWTH AS A TECHNOLOGY LEADER Megatrends AI, Digitalization, Proven success in and Electromobility will drive a cyclical industry wafer demand to new levels Clear commitment to R&D, New fab will improve our Sustainability and Innovation position and dri
Slide 31: Financial Calendar and Investor Relations Contacts
Financial Calendar and Events March 20, 2025 April 4, 2025 May 28, 2025 June 4-5, 2025 June 23-24, 2025 Stifel Southern Münchner db access European Baader Helvea DIRK Conference, Germany Summit, Kapitalmarkttage, Champions Roadshow, Frankfurt Stuttgart Munich Conference Zürich + Genf Investor Relati