Siltronic Ag · XETR:WAF

Siltronic — Siltronic Ag Ord — Q3 2024 Earnings Presentation

15 slides from Siltronic's earnings presentation, Oct 24, 2024

  1. Slide 1: Q3 2024: A Quarter as Expected

    Q3 2024 A QUARTER AS EXPECTED Dr. Michael Heckmeier & Claudia Schmitt October 24, 2024 © Siltronic AG

  2. Slide 2: Key Messages of Today's Call

    KEY MESSAGES OF TODAY'S CALL Q3 2024 as expected Wafer demand weakness ongoing Promissory note loan 2024 Guidance aligned successfully placed with delayed qualifications 2 Q3 2024 Conference Call Presentation © Siltronic AG

  3. Slide 3: A Glance at Q3 2024

    A GLANCE AT Q3 2024 357.3 93.5 Sales in EUR mn Capex in EUR mn +1.7% vs. Q2 2024 Mainly for new fab in SGP 25.0 -65.0 EBITDA Margin in % Net cash flow in EUR mn Q2 2024: 25.8% Negative due to ongoing investments 0.60 Prices Earnings per share in EUR Slightly negative Q2 2024: EUR 0.73 Long-Term Agre

  4. Slide 4: Financials Q3 2024

    FINANCIALS Q3 2024 4 Q3 2024 Conference Call Presentation © Siltronic AG

  5. Slide 5: P&L: Q3 2024 Figures as Expected

    P&L: Q3 2024 FIGURES AS EXPECTED Profit & Loss, in EUR million Comments Q3 / 9M 2024 n Q3 2024 Q2 2024 9M 2024 9M 2023 Sales Sales 357.3 351.3 1,052.2 1,157.2 ○ Q3 qoq: Slight increase driven by higher wafer area sold; opposing effect from product mix and slightly negative impacts Gross profit 69.2

  6. Slide 6: Balance Sheet: Increasing Fixed Assets, Syn Loan Partly Drawn; Equity Ratio Unchanged at 47%

    BALANCE SHEET: INCREASING FIXED ASSETS, SYN LOAN PARTLY DRAWN; EQUITY RATIO UNCHANGED AT 47% Balance Sheet Composition Comments Sep 30, 2024 vs. Dec 31, 2023 Sep 30, 2024 Dec 31, 2023 Fixed assets EUR +312 mn Assets, in EUR mn 4,650 4,505 o Further increase to EUR 3.8 bn, with a still elevated inves

  7. Slide 7: 2024 Capex Significantly Reduced YoY but Still on a High Level

    2024 CAPEX SIGNIFICANTLY REDUCED YOY BUT STILL ON A HIGH LEVEL Investment, in EUR million 1,316 Capex 2024 Mainly for new Fab in 1,074 SGP 500 – 530 426 9M: 407 Capex Payments clearly 188 exceeding invest level, i.e. significant reduction of liabilities 2020 2021 2022 2023 2024e Chart not to scale 7

  8. Slide 8: Increase in Net Financial Debt Along with High Capex Payments

    INCREASE IN NET FINANCIAL DEBT ALONG WITH HIGH CAPEX PAYMENTS Net Financial Debt, in EUR million Net financial debt -356 Dec 31, 2023 Operating 241 cash flow Payments for -565 capex, net1 Change in net financial position Dividend EUR -383 mn payment -36 Others -23 Net financial debt -739 September 3

  9. Slide 9: Successful Placement of Promissory Note Loan in September

    SUCCESSFUL PLACEMENT OF PROMISSORY NOTE LOAN IN SEPTEMBER Debt financing instruments1, in EUR million Promissory Syn loan 180 SGP note loan 2 310 Placed in September, payout in October Fixed loans, drawn Maturities: SSD 2 Variable loans, drawn 3.5, 5 and 7 years 370 1,560 EIB 200 Syn loan / SSD 2, n

  10. Slide 10: Outlook 2024

    OUTLOOK 2024 10 Q3 2024 Conference Call Presentation © Siltronic AG

  11. Slide 11: End Market Growth Still Negatively Overcompensated by Excess Inventory

    END MARKET GROWTH STILL NEGATIVELY OVERCOMPENSATED BY EXCESS INVENTORY Consumption of wafers by end use Growth in demand for wafer area 2023, in % 2024 vs. 2023, in % Server Strong growth with AI Smartphones 22 7 pushing net content PCs 14 2 Server 13 23 Smartphones Industrial 16 -2 Modest recovery

  12. Slide 12: Total Inventories for Memory and Logic Peaked in 2023, Power Still Increasing

    TOTAL INVENTORIES FOR MEMORY AND LOGIC PEAKED IN 2023, POWER STILL INCREASING Semiconductor inventories per sector1 Inventory levels decreasing slowly; High End DRAM improved due to HBM, other Memory DRAM and NAND still elevated (customer dependent) Customers Vary significantly – most positive resul

  13. Slide 13: Status Update of Our New 300 mm Fab in Singapore

    STATUS UPDATE OF OUR NEW 300 MM FAB IN SINGAPORE Ramp speed o 2024 ~ 100k/month equipment capacity at the end of December o 2025 with reduced ramp speed o 2026 ramp according to market demand Customer qualifications o Major customer qualifications have been delayed into next year o Qualifications ar

  14. Slide 14: 2024 Guidance Slightly Adjusted

    2024 GUIDANCE SLIGTHLY ADJUSTED Sales EBIT High single digit percent below prior year Significant decline EBITDA Margin Capex Between 24% and 26% Between EUR 500 and 530 mn Depreciation Net cash flow Between EUR 230 and 250 mn Improved compared to previous year, but remains significantly negative As

  15. Slide 15: Financial Calendar and Events; Investor Relations Contacts

    Financial Calendar and Events Nov 13, 2024 Nov 21, 2024 Nov 25, 2024 Dec 2, 2024 Dec 5, 2024 Berenberg reverse Morgan Stanley TMT Eigenkapitalforum Berenberg Pennyhill Bofa virtual Tech Roadshow Conference, Barcelona Frankfurt Conference, London Fieldtrip Investor Relations Contacts Verena Stütze St

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