Siltronic AG

WAF

Equity

ISIN DE000WAF3001 / Valor 28423342

Xetra (2025-04-04)

EUR 36.80-6.27%

Siltronic AG
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About company

Siltronic AG is a leading global manufacturer of silicon wafers, which are essential components in the semiconductor industry for various electronic applications. With production facilities in Asia, Europe, and the USA, the company partners with major chip manufacturers and semiconductor companies to provide hyperpure silicon wafers with diameters up to 300 mm. Siltronic AG, listed on the German Stock Exchange since 2015 and included in the MDAX and TecDAX indices, employs around 4,500 people worldwide and is known for its focus on quality, precision, innovation, and growth. The company's extensive product range caters to the specific requirements of the global semiconductor industry, making Siltronic a key player in the electronics industry.

Summarized from source with an LLMView SourceSector: Technology

Sales Performance

Siltronic AG reported sales of EUR 357.3 million in Q3 2024, marking a 1.7 percent increase from the previous quarter. However, for the first nine months of 2024, sales decreased by 9.1 percent year-on-year, totaling EUR 1,052.2 million. This decline was primarily attributed to a reduction in wafer area sold, along with negative impacts from product mix, pricing, and foreign exchange effects.

Cost and Gross Profit

The cost of sales for Siltronic AG increased by 2.6 percent in Q3 2024 compared to Q2, driven by higher wafer area sold and increased depreciation. For the first nine months, cost of sales decreased by 2.5 percent year-on-year. Despite this, gross profit fell by EUR 1.4 million quarter-on-quarter and by EUR 83.1 million year-on-year, with the gross margin dropping from 25.3 percent to 20.0 percent.

EBITDA and Net Profit

In Q3 2024, Siltronic AG's EBITDA was EUR 89.4 million, maintaining a solid margin of 25.0 percent. For the first nine months, EBITDA totaled EUR 270.7 million, down from EUR 342.8 million in the same period of 2023. The net profit for Q3 was EUR 18.8 million, with earnings per share at EUR 0.60. Year-to-date net income was EUR 68.8 million, significantly lower than the EUR 169.0 million reported in the previous year.

Cash Flow and Investments

Siltronic AG's cash flow from operating activities decreased by EUR 83.3 million in the first nine months of 2024 compared to the previous year. Despite a reduction in capital expenditures, cash outflows remained high at EUR 565.1 million, primarily due to the construction of a new fab in Singapore. Consequently, net cash flow was negative at EUR -317.7 million, though improved from the previous year's EUR -631.3 million.

2024 Outlook

Siltronic AG confirmed its guidance for 2024, expecting sales to be in the high single-digit percentage range below the previous year. The EBITDA margin is adjusted to a range of 24 to 26 percent due to delayed customer qualifications for the new Singapore fab. Despite current challenges, the company anticipates significant growth potential driven by trends like AI, digitization, and electromobility, supported by investments in capacity expansion and product mix improvements.

Summarized from source with an LLMView Source

Key figures

-55.4%1Y

-60.6%3Y

-44.5%5Y

Performance

33.4%1Y

37.9%3Y

39.1%5Y

Volatility