Slide 1: Siltronic AG Q1/2018 Results
Siltronic AG Q1/2018 Results April 25, 2018 © Siltronic AG 2018
Slide 2: Market Update
MARKET UPDATE © Siltronic AG 2018
Slide 3: Highlights Q1/2018: Financials
Highlights Q1/2018: Financials Sales 327.4m (Q4/2017: EUR 328.1m) EBITDA EUR 122.3m (Q4/2017: EUR 120.9m) EBITDA margin 37.4 % (Q4/2017: 36.8%) EBIT EUR 96.6m (Q4/2017: EUR 91.1m) ROCE 49.3% (Q4/2017: 48.8%) CapEx EUR 33.4m (Q4/2017: EUR 61.4m) Net Cash Flow EUR 112.4m (Q4/2017: EUR -4.5m) Net Finan
Slide 4: Market highlights Q1/2018
Market highlights Q1/2018 Semiconductors Semi units up 8.5% y-o-y (3MMA) Silicon wafer demand Wafer market in Q1 2018 was above ~6.6 bn cm²/mo, 3.6% over Q4 2017 average and 7.9% up y-o-y Price increases Price increases for wafers continue in 2018 Competition Wafer suppliers continue to repo
Slide 5: Financials Q1/2018
FINANCIALS Q1/2018 © Siltronic AG 2018
Slide 6: Q1 sales on high Q4 level despite headwind from USD
Q1 sales on high Q4 level despite headwind from USD Sales, in EUR million Comments Positive 308.1 328.1 327.4 Sales volume on very high level relatively stable q-o-q 283.1 258.0 Significant ASP increase y-o-y Slight ASP increase q-o-q Further ASP increases in 2018 Negative Headwind fro
Slide 7: EBITDA and EBITDA-margin also on high Q4 level
EBITDA and EBITDA-margin also on high Q4 level EBITDA margin in %; EBITDA in EUR million Comments Positive 36.8 37.4 Significantly higher ASP 34.6 y-o-y Further price increases q-o-q 25.7 Cost of sales per wafer area 20.5 slightly decreased 120.9 122.3 106.5 Negative 72.7 53.0 Headwind f
Slide 8: Net profit increased further
Net profit increased further Result and income tax, in EUR million Comments -12.3 Net profit of EUR 82.0m -15.2 in Q1/2018 Main reason: lower depreciation EUR 18.7m expenses for effective taxes in Q1/2018 94.3 89.1 82.0 EUR 6.4m income from 73.9 deferred tax assets (one- time effect in Q1) Q
Slide 9: Equity further improved, stable equity ratio of ~50%
Equity further improved, stable equity ratio of ~50% Balance sheet, in EUR million Mar 31, Dec 31, Comments Equity and Mar 31, Dec 31, Comments Mar Assets 2018 2017 Mar 31, 2018 liabilities 2018 2017 31, 2018 Non-current 554.4 546.6 Equity 707.1 637.9 PP&E 518.2 513.3 Siltronic 703.1 637.3 22 intang
Slide 10: Fluctuations in pension provision due to interest rate movements
Fluctuations in pension provision due to interest rate movements Pension provision, in EUR million 371 381 367 Comments 345 341 Changes in interest rates influence evaluation of pension provision Change in interest rates directly reflected in equity (OCI) Q1 2017 Q2 Q3 Q4 Q1 2018 interest rates
Slide 11: Net financial assets on an all-time high in Q1 2018
Net financial assets on an all-time high in Q1 2018 Dividend payment of EUR 75m in April 2018 Net financial assets, in EUR million First dividend payment since IPO in 2015 Successful financial year 2017 leads to first 491 dividend payment since IPO Dividend of EUR 2.50 per share approved by the
Slide 12: Capex 2018: EUR 240m to EUR 260m
Capex 2018: EUR 240m to EUR 260m Investment, in EUR million Comments ~240-260 ~50-70 Capex of EUR ~140m for 70k wafers/month over 2 years Capex in 2018 includes new crystal pulling hall in Singapore to create sufficient crystal pulling capacity to further expand wafer capacity in 123 ~110 2020 ~
Slide 13: Increasing net cash flow generation boosted by net profit
Increasing net cash flow generation boosted by net profit Capex and NCF, in EUR million Comments Net cash flow of EUR 112.4m as a result of improved net profit Customer prepayments of EUR ~41m received in Q1 112.4 2018 Further prepayments 60.6 61.4 expected during the year 30.9 37.8 33.4 19.3
Slide 14: Outlook
OUTLOOK © Siltronic AG 2018
Slide 15: Siltronic Outlook for 2018 (as of March 5, 2018) confirmed
Siltronic Outlook for 2018 (as of March 5, 2018) confirmed EBITDA margin close to 40% ROCE clearly higher than in 2017 Net cash flow clearly higher than in 2017 Sales clearly above EUR 1.3bn, depending on FX effects R&D approx. 5% of sales Cost position negative effect on savings potential due to ta
Slide 16: 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 17: 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 18: Siltronic AG | Hanns-Seidel-Platz
SILTRONIC AG | Hanns-Seidel-Platz 81737 Munich 4 Germany © Siltronic AG 2018