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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.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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