Siltronic reported first-half 2026 sales of €628.1 million, down 6.9% from €674.8 million in the same period last year, reflecting the impact of a weaker U.S. dollar and the closure of its SD production line in mid-2025. Excluding these two factors, the company stated that its underlying operating performance was slightly above the prior-year level.
Second-quarter sales reached €321.6 million, up 4.9% sequentially from €306.5 million in the first quarter, primarily driven by higher wafer volumes. Gross margin improved to -4.5% from -8.5% in the previous quarter as higher capacity utilization improved fixed-cost absorption.
Second-quarter EBITDA increased to €69.4 million from €65.1 million in Q1, resulting in an EBITDA margin of 21.6%, while first-half EBITDA totaled €134.5 million with a margin of 21.4%, remaining within the company’s full-year guidance range of 20% to 24%.
Demand for 300 mm wafers remained strong throughout the first half, supported by memory and logic applications and additional capacity from the Singapore manufacturing facility. While demand for 200 mm wafers remained weak during the first six months, Siltronic expects a meaningful recovery in the second half of 2026, with pricing stabilizing at a low level. The company plans to increase staffing to support the anticipated rise in demand.
The expansion of the new 300 mm wafer facility in Singapore continued to impact profitability through significantly higher depreciation. Gross profit declined to -€40.5 million in the first half, compared with €114.9 million a year earlier, while EBIT fell to -€104.3 million. Net loss for the period was €130.0 million, compared with net profit of €18.8 million in the first half of 2025.
Siltronic strengthened its financial position during the quarter following the successful completion of a capital increase. Cash, cash equivalents, securities and fixed-term deposits increased to €647.4 million, while the equity ratio improved to 45.4%. Capital expenditure totaled €155.8 million during the first half, primarily supporting the ongoing expansion of the Singapore fab.
The company has slightly refined its full-year sales outlook. Assuming an average EUR/USD exchange rate of 1.18 during the second half of 2026, Siltronic now expects full-year sales to decline by a low to mid-single-digit percentage compared with 2025. Excluding foreign exchange effects and the impact of the discontinued SD business, sales are expected to be at or slightly above the previous year’s level.
Siltronic maintained its full-year EBITDA margin guidance of 20% to 24%. The company expects continued high utilization of its 300 mm capacity and improving demand for 200 mm wafers during the second half, although higher freight and energy costs are expected to partially offset the benefit of stronger sales volumes.
Original – Siltronic