X-fab Silicon Foundries Se · EURONEXT:XFAB
X-fab Silicon Foundries — X-Fab Silicon Foundris — Q2 2025 Earnings Presentation
47 slides from X-fab Silicon Foundries's earnings presentation, Jul 31, 2025
Slide 1: The specialty foundry for the analog world
The SPECIALTY foundry for the analog world Investor presentation // Q2 2025
Slide 2: Disclaimer
Disclaimer Forward-looking information › This presentation may include forward-looking statements. regarding trends or current activities should not be taken as a Forward-looking statements are statements regarding or report that such trends or activities will continue in the future. based upon our
Slide 3: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 3
Slide 4: Key investment highlights
Key investment highlights › Specialty foundry with a comprehensive set of technologies › Providing strong design support and IP drives long-term across market segments customer engagement with successful technology leaders › Expert for the development and production of analog/mixed- › For a better w
Slide 5: X-FAB at a glance
X-FAB at a glance 6 six manufacturing sites 816 m$ revenue in 2024 ~4,500 employees representing ~45 nationalities 5
Slide 6: Foundries and their role in the value chain
Foundries and their role in the value chain › Focus on complex technology, design support and › X-FAB does not have own products, as it does not want to manufacturing solutions compete with its customers Semiconductor Process Design IP technology IC wafer IC assembly value chain development IC desig
Slide 7: Analog vs. digital – a clear differentiation
Analog vs. digital – a clear differentiation Analog/mixed-signal Digital › Low capacity and technology capex › High capacity and technology capex › Long product lifecycle › Short product lifecycle › High tech differentiation › Latest technology node differentiation › Large portfolio of process techn
Slide 8: Comprehensive technology offering
Comprehensive technology offering HV CMOS & SOI Microsystems SiC & GaN › Feature-rich technology portfolio › MEMS with or without integrated › 6-inch silicon carbide offering the integration of various CMOS › 8-inch gallium nitride on silicon functionalities on one chip including › Microfluidics vol
Slide 9: Serving strongly growing end markets
Serving strongly growing end markets Automotive Industrial Medical Electrification Smart manufacturing Personal medical devices Safety Smart buildings and cities Medical equipment Comfort and convenience Sustainable energy Lab-on-a-chip Data center and AI 9
Slide 10: We are setting the benchmark in support
We are setting the benchmark in support X-FAB’s close relationships with customers create barriers to entry for competitors. Unique tools Robust for First-Time- design flow Right Long 24/7 PDKs lifetime expert with proven product hotline ESD support Largest IP Application Design offering experts rev
Slide 11: Continuously growing, diversified and global customers
Continuously growing, diversified and global customers We have a diverse base of ~400 customers worldwide. No. of automotive customers 64 58 415 41 392 › About 1,636 unique products in production plus 333 562 new products in prototyping stage 154 <10 166 › Top 5 customers accounted for 60% of revenu
Slide 12: Diversified product range
Diversified product range Average revenue per customer per product in 2024 Revenue share per customer in 2024 › Low risk due to highly diversified portfolio of end products Top 1 44.3 % Top 2 4.4 % › About 1,636 unique products in production Top 3 3.9 % › X-FAB is #1 foundry supplier for 9 out of th
Slide 13: Long product lifetimes
Long product lifetimes Many products in production for more than 20 years 2024 2023 Wafer delivery per year 2022 2021 sorted by year of product launch 2020 1.000.000 2019 2018 900.000 2017 2016 Each color 800.000 2015 represents all new product launches Wafer quantity 2014 700.000 2013 in a given ye
Slide 14: Clear future revenue visibility
Clear future revenue visibility Illustrative lifecycle for automotive product Technology Chip First Volume Volume 1st iteration Qualification Safe launch selection design prototype ramp-up production 3 6 5 6–8 9 12 ~ 18 > 66 Months › At least 12 months of finalizing chip design for mass-production ›
Slide 15: Responsible growth – ESG objectives
Responsible growth – ESG objectives Drive technological innovation to support Promote diversity and inclusion within the sustainability goals for climate action and workplace to ensure equal opportunities health and well-being. for all employees. Reduce carbon footprint, normalized to Lower water co
Slide 16: Responsible growth – sustainability at X-FAB
Responsible growth – sustainability at X-FAB Environment Sustainable Supply Health & Safety › Constantly increasing environmental awareness › Global supplier selection process in place › Environmental, Health and Safety (EHS) policy and responsibility in place to ensure health and safety of our › Su
Slide 17: Responsible growth – sustainability at X-FAB
Responsible growth – sustainability at X-FAB Human Rights & Ethics Social Commitment Governance › Strong set of corporate values that include › Global and local activities relating to social and › Strictly complying with insider trading rules and customer orientation and innovation educational topic
Slide 18: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 18
Slide 19: Our growth strategy going forward
Our growth strategy going forward › Expand X-FAB’s leading position in analog/mixed-signal › Continuously innovate our technology and service portfolio technologies › Grow economy of scale, optimize utilization, and leverage › Maintain focus on resilient and growing end markets – automation to furth
Slide 20: Semiconductors are key to resolving the challenges of our time
Semiconductors are key to resolving the challenges of our time › Enabling the development of sustainable and energy-efficient products across all sectors › Drives strong growth in X-FAB’s key end markets in the long term – automotive, industrial and medical Climate change Aging populations ELECTRIFI
Slide 21: Business highlights – Automotive
Business highlights – Automotive › Automotive revenue in Q2 2025 was up 1% year-on-year and up 6% quarter-on-quarter › Shift to electric mobility to drive growth in automotive: EVs with more than double the semiconductor content of combustion engine cars Automotive revenue 160 140 120 100 in $m 80 6
Slide 22: X-FAB's business – Automotive
X-FAB’s business – Automotive X-FAB delivers into combustion cars and EVs Comfort & In-vehicle network convenience CAN/LIN Transceiver Window & door control Ethernet Intelligent key systems Safe-by-wire Climate control In-car data bus Seat control Mirror & wiper control Adaptive cruise control Inter
Slide 23: The right technology mix for the electrification of cars
The right technology mix for the electrification of cars Silicon carbide High voltage + NVM CMOS On-chip HV isolation › Silicon carbide as technology of choice for power › High voltage in combination with sensors, › Galvanic isolation technology required for electric applications analog/mixed-signal
Slide 24: Business highlights – Industrial
Business highlights – Industrial › Industrial revenue in Q2 2025 was up 37% year-on-year and up 20% quarter-on-quarter › Industrial end market recovery ongoing › Strong demand in power management applications for data centers Industrial revenue 60 50 40 in $m 30 20 10 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 25: X-FAB's business – Industrial
X-FAB’s business – Industrial “Electrification of everything” and “smart everywhere” Renewable energy driving growth in industrial › Residential energy storage › Inverter for PV › Gate drivers for wind turbines Data center & AI Smart cities & › Power management › Thermal management buildings › Photo
Slide 26: Leading silicon carbide foundry
Leading silicon carbide foundry X-FAB is the world’s first and leading SiC pure-play foundry Applications Fully integrated high-volume manufacturing fab, automotive certified Above industry average SiC quality and yield, according to customer feedback EV – saving battery cost, extended range Next ge
Slide 27: Business highlights – Medical
Business highlights – Medical › Medical revenue in Q2 2025 was up 14% year-on-year and up 9% quarter-on-quarter › Growth mainly driven by medical-grade contactless temperature sensors › New medical applications in the pipeline with gradual growth expected going forward Medical revenue 20 15 in $m 10
Slide 28: X-FAB's business – Medical
X-FAB’s business – Medical Medical equipment › Medical ultrasound › Xray › CT scanner Personal medical devices › Hearing aids, cochlear Lab-on-a-chip implants › Pacemaker › Drug testing & › Contactless thermometer development › Glucose meter › Fast sepsis detection › DNA sequencing 28
Slide 29: Connecting the two worlds of microelectronics and microfluidics
Connecting the two worlds of microelectronics and microfluidics Smart integrated microfluidic systems gaining ground X-FAB – at home in both worlds › Biological and pharmaceutical research is making significant progress assisted › X-FAB’s expertise and experience in microelectronics and microfluidic
Slide 30: Well positioned for future growth
Well positioned for future growth Mobility Healthcare Energy Strengthening our #1 position as Becoming the foundry of Supporting the efficient automotive pure-play foundry choice for medical generation, storage and distribution of green energy 30
Slide 31: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 31
Slide 32: Company news
Company news › 1-3 Apr: X-FAB launched its Photonics offering at the Optical Fiber Communications Conference and Exhibition (OFC) in San Francisco, CA, USA › 10 Apr: [Press Release] IQE and X-FAB sign Joint Development Agreement for GaN Power › 13-14 May: X-FAB showcased its Photonics and Micro-Tran
Slide 33: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 33
Slide 34: Q2 2025 at a glance
Q2 2025 at a glance Revenue* & bookings by quarter Key takeaways 300 › Q2 revenue at USD 218.3 million*, up 8% year-on-year and up CMOS Microsystems/MEMS SiC Bookings 8% quarter-on-quarter › Revenue in X-FAB’s key end markets (AIM) up 250 8% year-on-year* and up 9% quarter-on-quarter, with a 94% sha
Slide 35: Quarterly overview
Quarterly overview in millions of USD, growth vs. growth vs. Q2 2025 Q2 2024 Q1 2025 except otherwise stated Q2 2024 Q1 2025 Revenue 215.3 205.1 204.1 5% 5% Gross profit 49.9 44.9 44.6 11% 12% % margin 23.2% 21.9% 21.9% EBIT 21.7 22.8 21.1 -5% 3% % margin 10.1% 11.1% 10.3% Net financial result (17.4
Slide 36: Quarterly revenue by market segment and technology
Quarterly revenue by market segment and technology Q2 y-o-y in millions of USD Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 growth by market segment 135.3 151.8 135.6 142.4 146.0 128.6 135.4 143.4 1% Automotive Industrial 53.7 54.3 52.6 34.4 31.5 36.1 39.3 47.2 37% Medical 17.0 16
Slide 37: Successful business portfolio transformation
Successful business portfolio transformation Business mix Q4 2016 Business mix Q2 2025 Industrial 8% Medical Automotive 2% 66% Automotive 37% Share of core business CCC Industrial 52% with long lifecycles and higher 22% value-add has grown systematically CCC Medical 6% 7% 48% 94% Core business Core
Slide 38: Prototyping revenue development
Prototyping revenue development Prototyping revenue per quarter Prototyping revenue by market segment › Strong sequential increase driven by achievement of key milestones in customer- (full year 2024) specific microsystems projects 30 IP sale* CCC NRE Revenue 12% 25 Moving 4Q average Medical Automot
Slide 39: Natural hedging of the business
Natural hedging of the business Revenue by currency Costs by currency (full year 2024) › Euro share of sales in Q2 2025 at 44% › No FX impact on EBITDA thanks to natural hedging of the business 1.000 MYR SGD 900 6% 1% 56% 800 59% 700 58% 600 63% in $m 81% EUR 500 75% 37% 68% USD 400 57% 55% 44% 300
Slide 40: Cash position
Cash position Net debt development Solid cash position in millions of USD 30 Jun 2025 30 Jun 2024 31 Mar 2025 › Solid cash position complemented by credit lines › Major three-year capacity expansion program completed Cash & cash equivalents 157.7 290.1 157.2 in H1 2025: • return to normalized capex
Slide 41: Profitability
Profitability › Q2 2025 EBITDA margin at 24.0% - excluding impact from IFRS 15, EBITDA margin at 24.3%, compared to the guidance of 22.5-25.5% › Gradual revenue growth going forward will drive further profitability improvement Gross profit EBITDA 70 40% 70 40% 60 60 30% 30% 50 50 40 40 in $m in $m 2
Slide 42: Strong growth and higher profitability
Strong growth and higher profitability Greater resilience during down cycles 1.000 30% › Significant EBITDA margin improvement in downturn periods: 25% 800 23% 20% 600 in $m 2024 15% 400 vs. 10% 200 5% 6% 2019 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue EBITDA EBITDA margin 42
Slide 43: Outlook
Outlook Bookings & backlog Guidance › Shorter order lead times resulting from improved factory lead times › Q3 2025 revenue in the range of USD 215-225 million › Q3 2025 EBITDA margin in the range of 22.5-25.5% › Based on an average exchange rate of 1.17 USD/EUR Bookings Backlog 600 500 Full-year gu
Slide 44: Appendix
Appendix Further financial numbers and business information 44
Slide 45: Financial key figures 2019-2024
Financial key figures 2019-2024 in millions of USD, CAGR 2019 2020 2021 2022 2023 2024 except otherwise stated 2019-2024 Revenue 506.4 477.6 657.8 739.5 906.8 816.4 10% % growth -13.9% -5.7% 37.7% 12.4% 22.6% -10.0% Gross profit 27.3 43.7 150.0 176.0 258.1 182.9 46% % margin 5.4% 9.2% 22.8% 23.8% 28
Slide 46: Annual revenue by market segment and technology
Annual revenue by market segment and technology CAGR in millions of USD 2019 2020 2021 2022 2023 2024 Growth 2019-2024 by market segment Automotive 243.8 236.0 331.7 389.3 539.1 552.5 2% 18% Industrial 91.9 97.1 145.6 172.9 206.2 154.6 -25% 11% Medical 28.2 33.5 47.9 55.8 67.3 56.4 -16% 15% Subtotal
Slide 47: X-FAB shareholder structure
X-FAB shareholder structure 25.0 38.7 Elex NV Sensinnovat BV Sarawak Technology Holdings Sdn. Bhd. Public 24.9 11.4 47
X-Fab Silicon Foundris — Q2 2025 Earnings Presentation on 6ix