SILTRONIC AG The expectation on the growth of wafer area sold, has increased significantly since the annual report was published. Therefore, Siltronic AG's forecast was raised in an ad hoc announcement on April 20, 2021. The company now expects an increase in wafer area sold of at least 15 percent. Depending on further exchange rate developments, Siltronic forecasts sales growth of at least 10 percent year-on-year. The EBITDA margin is expected in a range of 30 to 32 percent. Net cash flow and earnings per share are forecasted to improve significantly year-on-year.
"We expect a very positive development of business performance in 2021 based on a sustainably high demand," said Dr. Christoph von Plotho. "Siltronic is well positioned with a strong balance sheet and an excellent net financial position. Our goal is to maintain our good cost and high-quality performance. Thus, Siltronic is benefiting from the long-term growth trends in the wafer sector due to multiple end-applications," von Plotho said.
Forecast annual report 2020 Forecast April 20, 2021
Sales mid to high single-digit percent increase increase of at least 10 percent
EBITDA margin slight increase 30 to 32 percent
Depreciation around EUR 155 million to EUR 160 million around EUR 155 million to EUR 160 million
EBIT significant increase significant increase
Tax rate significantly below 10 percent significantly below 10 percent
Capital around EUR 250 million, mainly in epi reactors, around EUR 250 million, mainly in epi reactors,
expenditure capabilities and expansion of crystal pulling hall capabilities and expansion of crystal pulling hall
to replace older equipment to replace older equipment
Net cash flow slight improvement significant improvement
Earnings per slight increase significant increase
share Siltronic AG - Key figures Q1/2021
Profit and Loss statement In EUR million Q1 2021 Q4 2020 Q1 2020 Sales 316.1 284.5 300.1 EBITDA 91.7 67.2 84.2 EBITDA margin % 29.0 23.6 28.1 EBIT 54.2 28.4 53.3 EBIT margin % 17.2 10.0 17.8 Result for the period 58.4 40.9 46.0 Earnings per share EUR 1.67 1.17 1.32 Capital expenditure and net cash flow Capital expenditure in property, plant and equipment, and intangible assets 36.9 58.2 46.0 Net cash flow 27.9 -18.9 40.9 Statement of financial position In EUR million Mar. 31, 2021 Dec. 31, 2020 Total assets 2,008.0 1,919.4 Equity 1,078.6 871.8 Equity ratio % 53.7 45.4 Net financial assets 538.1 499.2
Conference call for analysts and investors
The Executive Board of Siltronic AG will hold a conference call with analysts and investors (in English only) on May 7, 2021 at 10:00 am (CEST). This call will be streamed via the Internet. The audio webcast will be available live as well as on demand on Siltronic's website.
The Q1 interim statement and the latest investor presentation are also published on the Siltronic website.
Other dates:
July 28, 2021 Interim 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 3,800 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.
Financial information - pursuant to IFRS, unaudited
Siltronic AG - Consolidated Statement of Profit or Loss
In EUR million Q1 2021 Q4 2020 Q1 2020 Sales 316.1 284.5 300.1 Cost of sales -227.5 -211.7 -210.8 Gross profit 88.6 72.8 89.3 Selling expenses -8.7 -7.3 -8.2 Research and development expenses -19.3 -18.0 -17.6 General administration expenses -9.5 -18.3 -7.7 Other operating income 27.9 13.6 17.4 Other operating expenses -24.8 -14.4 -19.9 Operating result 54.2 28.4 53.3 Interest income 0.8 1.0 2.5 Interest expenses -0.6 -0.4 -0.6 Other financial result 0.5 0.8 -8.0 Financial result 0.7 1.4 -6.1 Result before income taxes 54.9 29.8 47.2 Income taxes 3.5 11.1 -1.2 Result for the period 58.4 40.9 46.0 of which attributable to Siltronic AG shareholders 50.1 35.0 39.6 attributable to non-controlling interests 8.3 5.9 6.4 Result per common share in EUR (basic/diluted) 1.67 1.17 1.32
Siltronic AG - Consolidated Statement of Financial Position
In EUR million Mar. 31, 2021 Dec. 31, 2020 Intangible assets 23.4 23.5 Property, plant and equipment 977.8 961.7 Right-of-use assets 51.7 51.2 Securities and fixed-term deposits 21.2 46.7 Other financial assets 0.1 0.1 Other non-financial assets 3.1 2.0 Deferred tax assets 18.4 10.1 Non-current assets 1,095.7 1,095.3 Inventories 178.0 163.0 Trade receivables 159.8 144.5 Contract assets 10.3 12.1 Securities and fixed-term deposits 284.0 159.7 Other financial assets 13.2 17.3 Other non-financial assets 28.6 27.7 Income tax receivables 3.6 5.2 Cash and cash equivalents 234.8 294.6 Current assets 912.3 824.1 Total assets 2,008.0 1,919.4 Subscribed capital 120.0 120.0 Capital reserves 974.6 974.6 Retained earnings and net Group result 229.9 179.8 Other equity items -342.6 -488.3 Equity attributable to Siltronic AG shareholders 981.9 786.1 Equity attributable to non-controlling interests 96.7 85.7 Equity 1,078.6 871.8 Pension provisions 448.5 566.5 Other provisions 59.9 62.3 Liabilities for income taxes 10.7 10.7 Deferred tax liabilities 2.3 3.1 Customer prepayments 126.5 137.4 Lease liabilities 48.9 48.4 Other financial liabilities 0.5 - Non-current liabilities 697.3 828.4 Other provisions 9.2 7.3 Liabilities for income taxes 15.5 16.8 Trade liabilities 113.1 118.8 Customer prepayments 30.5 23.6 Lease liabilities 3.9 4.0 Other financial liabilites 4.0 3.9 Other non-financial liabilities 55.9 44.8 Current liabilites 232.1 219.2 Total liabilities 929.4 1,047.6
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