Q2 2024 Siltronic AG Earnings Call Transcript
Key Points
- Siltronic AG (SSLLF) managed to slightly increase sales quarter on quarter, reaching EUR351 million, marking a 2.3% increase.
- The company maintained a solid EBITDA margin of 25.8%, despite challenging market conditions.
- Prices remained almost stable quarter on quarter, indicating some resilience in pricing power.
- The company has implemented effective cost and liquidity management measures, including reducing CapEx and labor costs.
- Siltronic AG (SSLLF) slightly upgraded its full-year guidance, expecting sales to be in the high single-digit percentage range below 2023 levels and an EBITDA margin in the range of 23% to 25%.
- The demand environment for wafers remains challenging due to elevated inventory levels in the chip industry, impacting order intake.
- The company experienced a negative FX result of minus EUR1 million in Q2, contributing to a sequential decline of EUR6 million.
- CapEx primarily required for the ramp of the new fab in Singapore led to continued negative cash flow.
- Financial liabilities increased as the company drew EUR150 million of its syndicated loan in H1, bringing total loans to EUR960 million.
- Despite the positive end market growth forecasts, the elevated inventories overshadow the positive trend, resulting in overall negative wafer demand in the mid-single-digit percentage range.
Welcome everybody to our Q2 2024 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 Schmidt, will give you an overview of our financials, the current market developments, and our guidance.
After the presentation, we will be happy to take your questions. Please note that management's comments during this call will include forward-looking statements that involve risks and uncertainties for a discussion of risk factors. I encourage you to review the Safe Harbor statement contained in today's press release and presentation. All documents relating to our Q2 24 reporting are available on our website. I now turn the call over to Michael for his remarks.
Thank you, Verena, and a warm welcome also from my side. As usual, let's start with the key messages of today's call. There were no major surprises in
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
