Siltronic (WAF) investor relations material

Executive summary

• H1 2026 sales reached EUR 628.1 million, down 6.9% year-over-year due to FX effects and SD line closure, but Q2 2026 sales rose 4.9% sequentially to EUR 322 million, driven by strong 300 mm wafer demand and recovering 200 mm market.

• EBITDA margin was 21.4% in H1 2026, with EBITDA at EUR 134.5 million; net loss for H1 2026 was EUR 130.0 million, compared to a profit of EUR 18.8 million in H1 2025.

• A successful capital increase in June 2026 raised EUR 273 million, strengthening liquidity and supporting re-entry into the MDAX.

• Guidance for 2026 was slightly raised: sales expected in the low- to mid-single-digit percent range below prior year, with EBITDA margin unchanged at 20–24%.

• Underlying operating performance, adjusted for FX and SD closure, was slightly above the prior-year period.

Financial highlights

• Q2 2026 sales reached EUR 322 million, up 4.9% quarter-over-quarter, with EBITDA at EUR 69 million and margin at 21.6%.

• EBIT dropped to EUR -104.3 million in H1 2026 from EUR 38.5 million in H1 2025, mainly due to higher depreciation from Singapore expansion.

• Net financial debt improved to EUR 691.9 million, and equity ratio increased to 45.4% as of June 30, 2026.

• Cash and equivalents rose to EUR 647.4 million due to the capital increase.

• Free cash flow improved to EUR -116.5 million in H1 2026 from EUR -157.0 million in H1 2025.

Outlook and guidance

• 2026 sales are expected in the low- to mid-single-digit percent range below 2025, but could be at or slightly above prior year when adjusted for FX and SD closure; EBITDA margin guidance remains at 20–24%.

• Significant increase in wafer area sold expected, with high capacity utilization for 300 mm wafers and recovering 200 mm demand in H2.

• Capex for 2026 expected at EUR 180–220 million; net cash flow projected to remain on par with previous year.

• Depreciation expected to rise to EUR 490–520 million in 2026.

• Gradual recovery expected through H2, with no explosive growth anticipated.