Q3 2024 Siltronic AG Earnings Call Transcript
Key Points
- Siltronic AG (SSLLF) achieved a modest quarter-on-quarter sales increase, reflecting a 1.7% rise driven by a higher wafer area sold.
- The company successfully placed a promissory note loan, attracting significant interest from investors, securing EUR370 million.
- Prices remained largely stable quarter-on-quarter with no deviations from long-term agreement (LTA) contracted prices.
- The equity ratio remained at a healthy level of 47%, indicating strong financial stability.
- Siltronic AG (SSLLF) remains on track to meet its full-year 2024 guidance, despite challenging market conditions.
- The company faced a persistently weak demand environment in the wafer industry, impacting sales and profitability.
- Siltronic AG (SSLLF) experienced a decrease in sales by 9% in the nine-month comparison to the previous year, mainly due to a lower wafer area sold.
- The EBITDA margin declined from around 30% to 26% due to a lower hedging result and increased depreciation.
- The company had to postpone major qualifications for its new Singapore factory to next year, affecting its EBITDA margin guidance.
- Siltronic AG (SSLLF) continues to experience negative net cash flow due to high capital expenditures for ramping up the new factory in Singapore.
Hello, everyone and welcome to the presentation of Siltronic Q 3 2024 results.
Please note that this call is being recorded and streamed on Siltronic's website. The call will also be available as an ondemand version later today. Your participation in this call implies your consent with this. At this time, I would like to turn the conference over to Verena Stütze head of Investor Relations and Communications of Siltronic.
Thank you, Elaine. Welcome everybody to our Q3 results presentation. This call will also be webcast live on Siltronic.com. A replay of the call will be available on our website shortly after the end of the call.
Our CEO Michael Heckmeier and our CFO Claudia Schmitt will give you an overview of our financials, the current market development and our guidance. After the presentation, we will be happy to take your questions. Please note that management comments during this call will include forward-looking statements that involve risks and uncertainties. For a discussion of risk
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