In This Article:
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Revenue: EUR1.4 billion, reflecting a 7% decline year-over-year.
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EBITDA: EUR364 million, down EUR70 million compared to 2023.
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EBITDA Margin: 26% for the full year.
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Net Income: EUR67 million for the full year.
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Net Financial Debt: Increased to EUR734 million by the end of 2024.
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CapEx: EUR523 million for 2024, with a planned reduction to EUR350 million to EUR400 million in 2025.
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Equity Ratio: Decreased to 44%.
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Dividend Proposal: $0.20 per share, approximately 10% payout ratio.
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Depreciation and Amortization: Expected to be between EUR380 million and EUR440 million in 2025.
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Sales Guidance for 2025: Anticipated to be in the region of 2024 levels.
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EBIT Guidance for 2025: Expected to be significantly lower than the previous year and negative.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Siltronic AG (SSLLF) achieved its annual guidance at the upper end despite challenges in 2024.
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The company maintained a stable market share in the semiconductor-based market.
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A positive development in 300 millimeter wafers compensated for the planned exit from the SD sales business.
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Siltronic AG (SSLLF) implemented a stringent cost and cash management program, resulting in a resilient EBITDA margin of 26%.
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The company is well-positioned for growth, with strong relationships with major industry players and a focus on leading-edge technologies.
Negative Points
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Year-over-year sales declined by 7%, reflecting subdued demand in the wafer industry.
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Net financial debt increased to EUR734 million due to continued negative net cash flow.
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The company anticipates a further reduction in CapEx payments in 2025, but net cash flow will remain significantly negative.
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Siltronic AG (SSLLF) expects sales in 2025 to be similar to 2024, with a negative impact on average selling prices.
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The company plans to reduce its dividend to $0.20 per share, corresponding to a payout ratio of approximately 10% of consolidated net income.
Q & A Highlights
Q: What gives you confidence in a strong ramp in the second half of 2025, given the guidance for a high single-digit decline in the first half? Also, what are your assumptions for demand, particularly in the automotive sector? A: Michael Heckmeier, CEO: We have seen some customers asking for volume postponements from H1 to H2, which aligns with the general industry sentiment that H2 should be better. Regarding automotive demand, we see growth driven by electro mobility and server market dynamics. However, macroeconomic factors could affect PC and smartphone unit growth, making our 7% growth assumption balanced with some risks and opportunities.