EQS-Adhoc

Siltronic announces guidance for the financial year 2024 and a dividend proposal of EUR 1.20 for the financial year 2023

EQS-Ad-hoc: Siltronic AG / Key word(s): Forecast/Dividend Siltronic announces guidance for the financial year 2024 and a dividend proposal of EUR 1.20 for the financial year 2023 12-Feb-2024 / 17:54 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Ad-hoc announcement / Disclosure of an inside information according to Article 17 MAR

 

Siltronic AG
Einsteinstraße 172
81677 Munich
www.siltronic.com

Siltronic announces guidance for the financial year 2024 and a dividend proposal of EUR 1.20 for the financial year 2023

Munich, Germany, February 12, 2024 - The Executive Board of Siltronic AG today resolved upon the forecast for the financial year 2024. Due to the continuing weakness in demand, primarily as a result of elevated customer inventories and the associated further postponements of delivery volumes, the Executive Board expects the following development for the entire year 2024:

• Sales in the region of the previous year (exchange rate assumption: EUR/USD: 1.10) with stable average selling prices
• First half of 2024 expected to be on the level of the second half of 2023
• EBITDA margin, before ramp costs, also in the region of the previous year.
  Ramp costs for the new 300 mm fab in Singapore will impact the EBITDA margin by up to 3 percentage points compared to the previous year
• Recovery in costs, particularly for energy and materials, will be compensated by a lower currency hedging result compared to the previous year and rising labor tariffs  
• Depreciation and amortization will almost double compared to the previous year 
• As a result, significant decline in EBIT
• As planned, capital expenditure more than halved compared to the previous year
• Net cash flow will significantly improve compared to the previous year, but still significantly negative

Due to the expected development of the financial year 2024, the Executive Board proposes to the Annual General Meeting to reduce the dividend for the past financial year to EUR 1.20.