Siltronic AG confirmed its preliminary results for the 2025 financial year, reporting revenue of €1,346.7 million compared with €1,412.8 million in 2024. EBITDA reached €316.9 million, corresponding to a margin of 23.5 %, down from €363.8 million and 25.8 % in the previous year.

Wafer area sold increased during 2025 as end markets gained momentum, exceeding the level recorded in the previous year. However, several factors negatively affected revenue, including the depreciation of the U.S. dollar, price effects outside long-term agreements, and elevated inventories—particularly among customers using 200 mm wafers. The shutdown of the SD production line during 2025 also contributed to lower sales compared with 2024. When adjusted for exchange-rate effects and the SD shutdown, sales were roughly in line with the previous year.

CEO Michael Heckmeier stated that cost-control and cash-management measures were critical to achieving the company’s targets. While demand related to artificial intelligence created additional momentum, high inventories in the power semiconductor segment and the weak U.S. dollar weighed on performance. He noted that long-term industry trends such as digitalization, artificial intelligence and electromobility continue to support semiconductor capacity expansion.

Cost of sales increased to €1,235.5 million, up €98.1 million from the previous year. The increase was mainly due to higher wafer volumes and rising depreciation expenses, which reached €343.3 million as depreciation began for parts of the company’s new Singapore fabrication facility in August 2025. As a result, the gross margin declined to 8.3 % from 19.5 % in 2024.

EBITDA declined 12.9 % year over year to €316.9 million. Earnings before interest and taxes fell significantly to €-26.4 million, compared with €125.2 million in 2024, primarily due to lower EBITDA and higher depreciation. Net income for the year was €-77.9 million, with earnings per share of €-2.31 compared with €2.10 in the previous year.

Capital expenditure in 2025 totaled €369.1 million, focused mainly on the new Singapore facility. Net cash flow remained negative at €-85.3 million but improved compared with €-297 million in 2024 due to reduced investment spending.

As of December 31, 2025, total assets stood at €4,760.9 million, down from €5,084.4 million in 2024. The equity ratio remained stable at 42.6 %, while net financial debt increased to €836.5 million from €733.5 million the year before. Due to the negative earnings result, the company does not plan to distribute a dividend for the 2025 financial year.

For 2026, Siltronic expects a challenging market environment shaped by exchange-rate effects, continued price pressure outside long-term agreements, and high inventories in the 200 mm wafer segment. Based on an assumed EUR/USD exchange rate of 1.18, the company forecasts sales in the mid single-digit % range below the 2025 level and expects the EBITDA margin to fall within a range of 20 % to 24 %. Scheduled depreciation is projected to rise significantly to between €490 million and €520 million due to continued investments in 300 mm wafer capacity.

Capital expenditure is expected to decline substantially to between €180 million and €220 million in 2026, although net cash flow is likely to remain negative and roughly in line with the €-85 million recorded in 2025.

Original – Siltronic