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Siltronic (WAF) investor relations material

Siltronic Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary28 Oct, 2025

Executive summary

  • Q3 2025 was the weakest quarter, impacted by expected volume shifts into Q4 and adverse FX effects, with demand remaining soft in a challenging market environment.

  • Active cost and cash management measures were implemented, including strict CapEx discipline and a comprehensive cost program, to maintain resilience and align production with demand.

  • Market share remained stable year-to-date, reflecting resilience despite headwinds.

  • Positive long-term growth signals from AI and memory markets, though short-term effects are limited by inventory normalization.

Financial highlights

  • Q3 2025 sales were EUR 300 million, down 8.7% sequentially, mainly due to lower wafer area sold and FX headwinds.

  • EBITDA was EUR 65.7 million (margin 21.9%), down from EUR 86.4 million (26.3%) in Q2, impacted by lower sales and ramp-up costs for the new Singapore fab.

  • EBIT fell to EUR -31 million, and net income was EUR -44 million, reflecting higher depreciation from the new fab.

  • CapEx totaled EUR 90 million in Q3, with year-to-date CapEx at EUR 339.1 million.

  • Gross margin turned negative at -1.2% in Q3, compared to 18.3% in Q2.

Outlook and guidance

  • Full-year 2025 guidance confirmed, with sales expected mid-single digits below 2024 levels due to FX headwinds.

  • EBITDA margin guidance narrowed to 22%-24% (from 21%-25%), with significant decline expected due to new fab depreciation.

  • Depreciation forecast refined to EUR 340-360 million; CapEx expected at EUR 360-380 million.

  • Cash flow projected to improve versus last year but remain negative due to high investment activity.

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Frequently asked questions

Siltronic AG is a Germany-based company specializing in the production of ultrapure silicon wafers used in semiconductor manufacturing. The company's wafers serve as a critical substrate for integrated circuits and other microelectronic devices, enabling applications in consumer electronics, automotive systems, industrial automation, and renewable energy. Siltronic offers a wide range of wafer sizes and technologies, focusing on high quality and precision to meet the needs of advanced semiconductor applications. The company is headquartered in Munich, Germany, and its shares are listed on the Frankfurt Stock Exchange.

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