Siltronic AG Wafer demand supports 2026 sales outlook

Press release

Siltronic AG
Einsteinstr.172
81677 Munich
www.siltronic.com
Wafer demand supports 2026 sales outlook

– Sales in H1 2026 at EUR 628.1 million (H1 2025: EUR 674.8 million) below previous-year level due to negative FX effects and the SD line closure; Q2 2026 sales of EUR 321.6 million, as expected, above the previous quarter (Q1 2026: EUR 306.5 million)

– EBITDA margin of 21.4 percent in H1 2026 (H1 2025: 24.4 percent) and 21.6 percent in Q2 2026 (Q1 2026: 21.2 percent), within the guided full-year range

– Demand for 300 mm wafers is robust, 200 mm wafers with a demand recovery in H2 2026

– Sales Guidance 2026 slightly refined: Sales now expected to be in the low to mid-single-digit percentage range below the previous year (H2 2026 EUR/USD: 1.18); EBITDA margin unchanged at 20 to 24 percent
 

Munich, Germany, July 30, 2026 – The business performance of Siltronic AG (MDAX/TecDAX: WAF) in the first six months of the year was in line with expectations. Sales amounted to EUR 628.1 million and was therefore below the previous-year level (H1 2025: EUR 674.8 million). While sales development in H1 was particularly impacted by the weaker US dollar and the sales loss due to the closure of the SD line in mid-2025, the underlying operating business performance, adjusted for these effects, was slightly above the level of the previous-year period.

“During H1 2026, our business developed in line with our expectations. We are encouraged by the continued strong demand for 300 mm wafers. At the same time, demand for 200 mm market is recovering in H2, while prices are stabilizing at a low level. To meet this additional demand, we will adjust our staffing accordingly. Against this backdrop we confirm our full-year guidance and slightly edged-up our sales guidance. In addition, the successful capital increase has further strengthened our financial position. We therefore consider ourselves well positioned to benefit from the long-term growth trends in the semiconductor industry, particularly those driven by AI,” commented Dr. Michael Heckmeier, CEO of Siltronic AG.

Business development in Q2 2026 driven by higher wafer area sold

In Q2 2026, Siltronic AG generated sales of EUR 321.6 million. This corresponds to an increase of EUR 15.1 million or 4.9 percent compared with Q1 2026 (EUR 306.5 million). The main driver was the higher wafer area sold. Price, product mix and FX effects only had a limited impact on sales compared to the previous quarter.

Despite slightly higher depreciation, gross profit improved by EUR 11.8 million compared with the previous quarter to EUR -14.4 million in Q2 2026. Gross margin reached -4.5 percent compared with -8.5 percent in Q1 2026. Higher capacity utilization led to improved fixed cost dilution.

As a result, EBITDA increased by EUR 4.3 million to EUR 69.4 million in Q2 2026, compared to EUR 65.1 million in the previous quarter. Accordingly, the EBITDA margin slightly improved to 21.6 percent (Q1 2026: 21.2 percent). The positive quarter-over-quarter development was partially offset by a negative contribution from FX- and energy price hedges recognized in other operating income and expenses. Following a gain of EUR 11.4 million in Q1, a loss of EUR 3.0 million was recorded in Q2 2026.

EBIT amounted to EUR -51.9 million and was therefore almost on the same level as the previous quarter (Q1 2026: EUR -52.4 million). Net profit improved to EUR -63.2 million in Q2 from EUR -66.8 million in Q1 2026. Earnings per share increased from EUR -1.92 in Q1 2026 to EUR -1.71 in Q2 2026.

H1 2026 affected by higher wafer area sold and negative FX effects

In H1 2026, Siltronic achieved sales of EUR 628.1 million (H1 2025: EUR 674.8 million). This corresponds to a decrease of EUR 46.7 million, or 6.9 percent compared with the previous year’s period. The increase in wafer area sold was offset by negative FX effects following the appreciation of the euro against the US dollar.
On average, the EUR/USD exchange rate was 1.17 in H1 2026, compared with 1.09 in H1 2025. In addition, the closure of the SD production line had a negative impact on sales. Without these two effects, group sales in H1 2026 would have been slightly above H1 2025.

The positive volume development was driven by strong demand for 300 mm wafers for memory and logic applications, which were also supported by the capacity expansion in Singapore. Demand for 200 mm wafers remained subdued in H1 and was affected by negative price and product mix effects.

Gross profit decreased by EUR 155.5 million year-over-year to EUR -40.5 million. Accordingly, the gross margin declined to -6.4 percent, compared with 17.0 percent in H1 2025. This was primarily due to significantly higher depreciation (H1 2026: EUR 238.8 million; H1 2025: EUR 126.1 million) related to the expansion of production capacities in Singapore. Operating expenses for selling, research and development as well as general administration, also increased to EUR 83.5 million, compared with EUR 72.5 million in the same period of the previous year, mainly due to the new fab in Singapore. The balance of other operating income and expenses developed positively, amounting to EUR 19.7 million in H1 2026, compared with EUR -4.0 million in H1 2025. This was primarily attributable to gains from FX effects, energy price hedging and government investment grants.

As a result, EBITDA reached EUR 134.5 million after six months, compared with EUR 164.6 million in the same period of the previous year. The EBITDA margin amounted to 21.4 percent (H1 2025: 24.4 percent), and thus within the communicated full-year guidance range of 20 to 24 percent.

Due to significantly higher depreciation, EBIT declined to EUR -104.3 million compared with EUR 38.5 million the same period of the previous year.

Net profit for the period decreased from EUR 18.8 million in H1 2025 to EUR -130.0 million in H1 2026. In addition to the impact at the EBIT level, the financial result was adversely affected by the investments in Singapore. Earnings per share amounted to EUR -3.64 in H1 2026, compared with EUR 0.46 in the previous year period.

Financial position shaped by capital increase

Cash and cash equivalents, securities and fixed-term deposits increased to EUR 647.4 million as of the end of June. The reason was the cash inflow from the successful capital increase completed in June 2026. In H1 2026, net payments for capital expenditure including intangible assets amounted to EUR 155.8 million, compared with EUR 250.1 million in the previous-year period. Cash outflows significantly exceeded the additions capitalized during the reporting period (H1 2026: EUR 86.0 million), as payments were made not only for ongoing investments but also for capex recognized in previous periods. Capital expenditure in the financial year continues to focus on production capacity expansions in Singapore as well as ongoing steady-state capex.

As a result, both free cash flow (H1 2026: EUR -117.9 million; H1 2025: EUR -169.5 million) and net cash flow (H1 2026: EUR -116.5 million; H1 2025: EUR -157.0 million) improved significantly compared with the same period of the previous year. 

The equity ratio increased to 45.4 percent (December 31, 2025: 42.6 percent). The net financial debt improved to EUR 691.9 million.

Guidance for 2026 refined

The Executive Board confirms its outlook for financial year 2026 and refines its sales guidance. Overall, the company expects a significant increase in wafer area sold compared with the previous year. Capacity utilization for 300 mm wafers is expected to remain at a high level throughout the year. Following a weak H1, demand for 200 mm wafers is also recovering significantly in H2. To support this demand, Siltronic will adjust its staffing capacities accordingly. However, the impact on sales and earnings in 2026 remains limited, as the recovery is starting from a low price level and the product mix continues to have an offsetting effect.

Based on an assumed EUR/USD exchange rate of 1.18 for H2 2026, Siltronic now expects sales to be in the low to mid-single-digit percentage range below the previous-year level. Adjusted for FX effects and the sales decline resulting from the discontinuation of SD activities, sales are expected to be at or slightly above the previous year’s level. The EBITDA margin guidance remains unchanged at 20 to 24 percent. The slightly improved sales development is partially offset by higher freight and energy costs, which are above the planning assumptions used on February 12, 2026. Expectations for depreciation, EBIT, capex, and net cash flow also remain unchanged.

Siltronic AG – Key financial figures Q2/2026 and H1/2026

Profit and Loss statement
In EUR million			Q2 2026	Q1 2026	Q2 2025	H1 2026	H1 2025
Sales			321.6	306.5	329.1	628.1	674.8
EBITDA			69.4	65.1	86.4	134.5	164.6
EBITDA margin	%		21.6	21.2	26.3	21.4	24.4
EBIT			–51.9	–52.4	23.7	–104.3	38.5
EBIT margin	%		–16.1	–17.1	7.2	–16.6	5.7
Result for the period			–63.2	–66.8	14.6	–130.0	18.8
Earnings per share	EUR		–1.71	–1.92	0.38	–3.64	0.46
Capital expenditure and net cash flow
Capital expenditure including intangible assets			38.5	47.6	125.5	86.0	222.0
Net cash flow			–27.0	–89.5	–83.4	–116.5	–157.0

Statement of financial position
In EUR million			Jun. 30, 2026	Dec. 31, 2025
Total assets			4,858.7	4,760.9
Equity			2,205.7	2,028.3
Equity ratio	%		45.4	42.6
Net financial debt			691.9	836.5

Conference call for analysts and investors
The Executive Board of Siltronic AG will hold a conference call with analysts and investors (in English only) on July 30, 2026 at 10:00 am (CEST). This call will be streamed via the Internet. The audio webcast will be available live as well as on demand on Siltronic’s website.
The Q2 interim report and the latest investor presentation are also published on the Siltronic website.

Other dates:
November 4, 2026 Q3 2026 quarterly statement
Contact:
Verena Stütze
Head of Investor Relations & Communications
Tel.: +49 89 8564 3133
investor.relations@siltronic.com
Company profile:
As one of the world’s leading providers of high-tech wafer solutions, Siltronic is globally oriented and operates production facilities in Asia, Europe and the US. Wafers are the foundation of the semiconductor industry and the basis for chips in all applications of digital life – from servers and computers to smartphones, electric cars and wind turbines. Operating internationally and highly customer-oriented, the company consistently focuses on quality, technology, innovative strength, and operational excellence. Siltronic AG employs around 4,300 people worldwide and has been listed in the Prime Standard of the German Stock Exchange since 2015. Siltronic AG shares are included in both the MDAX and TecDAX stock market indices.
Disclaimer
This press release contains forward-looking statements based on assumptions and estimates made by the Executive Board of Siltronic AG. These statements can be identified by wording such as “expect”, “want”, “anticipate”, “intend”, “plan”, “believe”, “strive”, “estimate”, and “will” or similar terms. Although we assume that the expectations contained in these forward-looking statements are realistic, we cannot guarantee that they will prove to be correct. These assumptions may contain risks and uncertainties that could cause the actual figures to differ considerably from the forward-looking statements. Factors that can cause such discrepancies include changes in the macroeconomic and business environment, changes in exchange rates and interest rates, the introduction of products that compete with our own products, a lack of acceptance of new products or services, and changes in corporate strategy. Siltronic does not intend to update these forward-looking statements, nor does it assume any responsibility to do so.

This press release includes supplementary financial indicators that either are or may be so-called alternative performance indicators that are not clearly defined in the relevant financial reporting framework. In assessing the financial position and performance of Siltronic, these supplementary financial indicators should not be used in isolation or as an alternative to those presented in the consolidated financial statements and determined in accordance with the relevant financial reporting framework. Other companies that present or report alternative performance indicators with similar names may calculate them differently.  Explanations of the key financial figures used are available in the Annual Report of Siltronic AG.

Due to rounding, some of the figures presented in this press release as well as in other reports may not add up exactly to the stated totals and percentages presented may not accurately reflect the absolute values to which they relate.