Slide 1: Siltronic AG Q3/2018 Results
Siltronic AG Q3/2018 Results October 25, 2018 © Siltronic AG 2018
Slide 2: Highlights Q3/2018: Financials
Highlights Q3/2018: Financials Sales EUR 379.8m (Q2/2018: EUR 361.3m) EBITDA EUR 160.2m (Q2/2018: EUR 146.0m) EBITDA margin 42.2% (Q2/2018: 40.4%) EBIT EUR 138.0m (Q2/2018: EUR 124.1m) ROCE 66,8% (Q2/2018: 62,0%) CapEx EUR 62.8m (Q2/2018: EUR 45.2m) Net cash flow EUR 93.0m (Q2/2018: EUR 67.1m) Net f
Slide 3: Market Update
MARKET UPDATE © Siltronic AG 2018
Slide 4: Market highlights Q3/2018
Market highlights Q3/2018 Semiconductors Semi units trended further upwards in August (+7.9% 3MMA, YoY) after some volatility while silicon area continues on high level Additional ASP increases resulted in higher semi revenues (+14.9% YoY) Silicon wafer market Wafer market in Q3 2018 was ~7bn
Slide 5: Increasing silicon demand supported by stable and growing end applications
Increasing silicon demand supported by 1 stable and 4 growing end applications Wafer demand, in bn cm², 2017/2018 expected growth, in % +8% +6.8% -1% +10% +33% 20,8 77,8 19,3 +5% 72,8 11,3 11,2 9,4 8,8 9,7 9 33,6 6,8 6,5 6,8 5,6 2,5 0 2,1 Mobiles / Desktop, Industrial Solid State Automotive Total ma
Slide 6: Growth in memory driven by SSD, computing and smartphones
Growth in memory driven by SSD, computing and smartphones DRAM growth Growth in servers Increase in DRAM density in servers and smartphones Growing Artificial Intelligence functionality NAND growth SSD growing with data traffic and HDD substitution Source: Apple.com NAND growth in smartpho
Slide 7: Automotive growth in all diameters with 300 mm to grow faster
Automotive growth in all diameters with 300 mm to grow faster than other diameters Infotainment, connectivity and ADAS become standard, driven by consumer request and government mandates ADAS, infotainment and connectivity require advanced logic as well as large amounts of memory Change in car
Slide 8: Investor key messages
Investor key messages Fundamental NAND growth intact Smartphone content additionally supported by CIS development Significant investment and ramp in new fabs by NAND players Demand of most automotive semi customers strengthening We don’t see any significant change in the market demand, but
Slide 9: Financials Q3/2018
FINANCIALS Q3/2018 © Siltronic AG 2018
Slide 10: Q3 sales 5% higher than in previous quarter
Q3 sales 5% higher than in previous quarter Sales, in EUR million Comment 379.8 Positive 361.3 ASP increase y-o-y and q-o-q 328.1 327.4 One-off effect of EUR 8m in 308.1 Q3/2018: conversion of a customer from sea freight to air freight Slight tailwind from USD q-o-q Negative Headwind fro
Slide 11: EBITDA and EBITDA-margin further up
EBITDA and EBITDA-margin further up EBITDA margin in %; EBITDA in EUR million Comment Positive 42.2 40.4 Higher ASP y-o-y and q-o-q 36.8 37.4 34.6 Slight tailwind from USD q-o-q Slightly lower cost per wafer area q-o-q 160.2 146.0 120.9 122.3 106.5 Negative Headwind from USD y-o-y (but n
Slide 12: Strong growth of net profit
Strong growth of net profit Result and income tax, in EUR million Comment -22.1 Net profit in Q3/2018 about 17% up vs. Q2/2018 -24.2 Higher ASPs and slightly lower cost of sales per wafer area contributed 136.7 EUR 22.1m expenses for 122.2 taxes in Q3/2018 114.6 98.0 Tax rate of 16% in Q3/20
Slide 13: Equity further increased due to strong profit for the period
Equity further increased due to strong profit for the period, solid equity ratio stable at about ~48% Balance sheet, in EUR million Sep 30, Dec 31, Comments Equity and Sep 30, Dec 31, Comments Assets 2018 2017 Sep 30, 2018 liabilities 2018 2017 Sep 30, 2018 Non-current 652.4 546.6 Equity 841.7 637.9
Slide 14: Net financial assets exceed EUR 700 million for the first time
Net financial assets exceed EUR 700 million for the first time Net financial assets, in EUR million 716 Comment 603 Prepayments of EUR 171.5m (net) received until 491 September 2018 342 295 Siltronic AG – Q3/2018 Results October 25, 2018 14 of 20
Slide 15: Strong net cash flow despite investments in the future
Strong net cash flow despite investments in the future Capex and NCF, in EUR million Comments 112.4 Net cash flow of EUR 93.0m in Q3 2018 Capex increase in Q3 related to: capacity expansion in 2019 new crystal pulling hall in 93.0 Singapore 67.1 ongoing automation projects 60.6 61.4 62.8 4
Slide 16: Outlook
OUTLOOK © Siltronic AG 2018
Slide 17: Siltronic Outlook for 2018 (as of October 25, 2018)
Siltronic Outlook for 2018 (as of October 25, 2018) EBITDA margin approximately 40% ROCE clearly higher than in 2017 Net cash flow clearly higher than in 2017 Sales slightly above EUR 1.4bn, depending on FX effects update R&D approx. 5% of sales Cost position negative effect on savings potential due
Slide 18: 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 19: 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 20: Siltronic AG | Hanns-Seidel-Platz
SILTRONIC AG | Hanns-Seidel-Platz 81737 Munich 4 Germany © Siltronic AG 2018