DGAP-News: Siltronic AG / Key word(s): Preliminary Results/Annual Results 
Siltronic AG: Siltronic AG's 2020 sales and earnings in line with expectations 
2021-01-29 / 06:53 
The issuer is solely responsible for the content of this announcement. 
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Press Release 
Siltronic AG 
Einsteinstrasse 172 
81677 Munich 
Germany 
www.siltronic.com 
Siltronic AG's 2020 sales and earnings in line with expectations 
- Euro strength negatively impacts Siltronic sales and earnings in H2 2020 
- Preliminary 2020 sales of 1,207 million euros below previous year (2019: 1,270.4 million euros) 
- Preliminary EBITDA decreases to 344 million euros and EBITDA margin to just over 28 percent (2019: 408.7 million 
euros; 32.2 percent) 
- Preliminary EBIT of around 204 million euros and EBIT margin of 17 percent significantly below prior year, also due 
to increased depreciation (2019: 298.3 million euros; 23.5 percent) 
- Possible one-time expense of a good 10 million euros for consultancy costs in the event of a successful offer by 
GlobalWafers not yet included 
Munich, Germany, January 29, 2021 - Sales and earnings of Siltronic AG (MDAX/TecDAX: WAF) declined in 2020, as 
expected. Although the fiscal year was characterized by slightly higher-than-expected demand for silicon wafers, at the 
same time the average selling price per wafer area was below 2019. The strength of the Euro in H2 2020 additionally 
weighed on sales and earnings. 
The surge in digitization triggered by the Corona pandemic generated strong demand for servers, laptops, headsets, 
monitors and other products. Demand for smartphones and cars showed the first signs of recovery during H2 2020. The 
recovery in demand was evident in 2020 from quarter to quarter and affected all wafer diameters. However, there were 
shifts in the end markets due to the corona pandemic, which also negatively affected Siltronic's product mix. 
Average selling price per wafer area had declined significantly during 2019. This impacted the average selling prices 
in 2020. Price pressure eased in the course of 2020. The strength of the Euro, especially against the US dollar and the 
Japanese yen, led to a decrease in sales of around 30 million euros in H2 2020 compared to H2 2019. 
The company continued to work intensively on realizing potential cost-saving opportunities and succeeded in noticeably 
increasing productivity in most areas. 
Siltronic AG's preliminary and still unaudited sales in 2020 were 1,207 million euros, 5 percent below 2019 (1,270.4 
million euros). 
EBITDA reached around 344 million euros, 16 percent down year-on-year (2019: 408.7 million euros). The EBITDA margin 
reached a solid 28 percent (2019: 32.2 percent). 
Preliminary earnings before interest and taxes (EBIT) were down significantly year-on-year at around 204 million euros 
(2019: 298.3 million euros), impacted not only by price pressure and the strength of the Euro but also by higher 
scheduled depreciation. EBIT margin in 2020 was around 17 percent compared to 23.5 percent in 2019. 
Siltronic has engaged advisors as part of the voluntary tender offer by GlobalWafers, some of whom are remunerated on a 
performance basis. In the event of a likely successful tender bid, further costs of a good 10 million euros will be 
booked, which would impact earnings by the same amount. 
In 2020, Siltronic invested around 188 million euros in property, plant and equipment and intangible assets. In 
addition to basic investments of around 90 million euros, this includes spending on capabilities, capacity expansions 
and investments in additional epi reactors. This will secure and further expand Siltronic's position as one of the 
technology leaders. 
Preliminary net cash flow of around 77 million euros in 2020 was slightly below the level of the previous year (2019: 
81.3 million euros) and thus in line with expectations. 
Due to the positive cash flow, preliminary net financial assets decreased by only around 90 million euros to 499 
million euros (2019: 588.9 million euros) despite the dividend payment of 90 million euros and the refund of customer 
prepayments. 
"2020 was a challenging year. The Corona pandemic, but also geopolitical tensions have affected the global economy. 
Accelerated digitization has led to a surge in demand for wafers. Our focus in the past year was again on our 
technological performance and increasing our productivity," said Dr. Christoph von Plotho, CEO of Siltronic AG. 
Business development in Q4 2020 
Preliminary sales of around 285 million euro in Q4 2020 were below Q3 (299.2 million euros), as expected. This is due 
to the further strengthening of the Euro as well as a usual seasonality. Average selling price per wafer area was 
stable. 
Siltronic achieved preliminary EBITDA of around 79 million euro in Q4 2020 (Q3 2020: 80.1 million euro). The 
preliminary EBITDA margin of around 28 percent was above the level of Q3 (26.8 percent). EBIT was down 
quarter-on-quarter to 40 million euros (Q3 2020: 43.6 million euro) due to exchange rate headwinds and increased 
scheduled depreciation. By contrast, EBIT margin fell only slightly from 14.6 percent to around 14 percent. 
2021 will be characterized by positive trends, but also by challenges 
Possible negative factors for 2021 continue to include geopolitical and global economic developments such as the trade 
dispute between the USA and China. It is also difficult to predict how the Corona pandemic will develop. Customer 
inventories are likely to have less of a negative impact on demand development in 2021 than it was the case at the 
beginning of 2020. However, NAND inventories at memory customers still appear to be elevated. 
Megatrends such as 5G, artificial intelligence, electromobility and digitization describe growth drivers for the 
semiconductor industry. Signs in these areas point to a positive environment in 2021, even if other end markets, like 
for example the automotive industry, are likely to remain below the level of 2019. 
Wafer demand is high and Siltronic's production loading is good to very good. 
Currently, Siltronic expects demand for wafer area to continue to grow in 2021. However, the company expects a 
significant headwind on sales and earnings development in 2021 due to the continued strength of the Euro. The company 
still has a high proportion of long-term contracts with customers. 
Overall, the company expects a good start to 2021. 
Siltronic AG - Preliminary Figures 2020^1) 
Profit and loss statement 
                                                                         Q4       Q3     Q2     Q1     Q4 
EUR million                                                            2020     2020   2020   2020   2019  2020    2019 
Sales                                                                   285    299.2  323.1  300.1  304.3 1,207 1,270.4 
EBITDA                                                                   79     80.1  100.4   84.2   90.0   344   408.7 
EBITDA margin                                                      %     28     26.8   31.1   28.1   29.6    28    32.2 
EBIT                                                                     40     43.6   66.9   53.3   56.7   204   298.3 
EBIT margin                                                        %     14     14.6   20.7   17.8   18.6    17    23.5 
 
Capital expenditure and Net Cash Flow 
Capital expenditure in property, plant and equipment and                                             96.4   188 
intangible assets                                                        58     35.1   48.3   46.0                363.0 
Net cash flow                                                           -19     28.6   26.7   40.9    8.9    77    81.3 
Statement of financial position 
EUR million                          Dec. 31, 2020 Dec. 31, 2019 
Net finanical assets                           499         588.9

1) The results in this document for Q4 2020 and Full Year 2020 are preliminary and have not yet been approved by the Supervisory Board or audited by an external auditor. All preliminary figures have been rounded to the nearest million.

Other dates

A comprehensive reporting with detailed disclosures will be provided on March 9, 2021 when the final results for 2020 will be published. The Executive Board of Siltronic AG will conduct a conference call with analysts and investors (in English only) on that day at 10:00 am (CET). This call will be streamed via Internet. The audio webcast will be available live as well as on demand on Siltronic's website.

March 9, 2021 Publication of Annual Report 2020

April 29, 2021 Ordinary Annual General Meeting

May 7, 2021 Q1 2021 Quarterly Statement

July 28, 2021 Half-Year Report 2021

October 26, 2021 Q3 2021 Quarterly Statement

Contact:

Petra Müller Head of Investor Relations & Communications Tel.: +49 (0)89 8564 3133 Email: investor.relations@siltronic.com Company profile: Siltronic is one of the world's largest manufacturers of hyperpure silicon wafers and partner to many leading semiconductor companies. The company operates production sites in Asia, Europe and the USA. Siltronic develops and manufactures silicon wafers in diameters of up to 300 mm. Silicon wafers form the basis for modern microelectronics and nanoelectronics and are a key component in semiconductor chips driving computers, smart phones, navigation systems and many other applications. Siltronic AG employs around 3,600 people and has been a stock-listed company in Germany (Prime Standard) since 2015. The Siltronic AG stock is listed on both the MDAX and TecDAX.

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January 29, 2021 00:56 ET (05:56 GMT)