New Risk • 4h
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swiss stocks, typically moving 8.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (8.0% average weekly change). Announcement • May 28
Siltronic AG announced that it has received €187.635 million in funding from Wacker Chemie AG and other investors Siltronic AG announced a private placement to issue 2,100,000 shares at an issue price of €89.35 per share for gross proceeds of €187,635,000 on May 26, 2026. The transaction included participation from returning investor Wacker Chemie AG and qualified investors and to international institutional investors only. The investor Wacker remains the largest shareholder with approximately 24% of the capital stock. Announcement • Mar 30
Siltronic AG, Annual General Meeting, May 08, 2026 Siltronic AG, Annual General Meeting, May 08, 2026, at 10:00 W. Europe Standard Time. Announcement • Feb 14
Siltronic AG Provides Earnings Guidance for Financial Year 2026 Siltronic AG provided earnings guidance for financial year 2026. Due to the continued weakness of the US dollar against the euro, a declining 200 mm wafer demand, the ongoing price pressure outside of long-term agreements, and the first full-year effect of the SD closure, the company expects sales in the mid-single-digit percent range below the previous year (exchange rate assumption: EUR/USD 1.18) and significant decrease in EBIT compared to the previous year. Announcement • Oct 22
Siltronic AG to Report Fiscal Year 2025 Results on Feb 03, 2026 Siltronic AG announced that they will report fiscal year 2025 results on Feb 03, 2026 Announcement • May 02
Siltronic AG Reaffirms Earnings Guidance for the First Half and Full Year of Financial Year 2025 Siltronic AG reaffirmed earnings guidance for the first half and full year of financial year 2025. For the first half 2025 sales expected to be in the mid to high single-digit percentage range below second half of 2024.
The sales guidance for the full year 2025 remains unchanged, although it is not yet possible to estimate the impact of American tariff policies and the corresponding countermeasures on expected end-market growth and FX rates for the remainder of the year (assumption for guidance: EUR/USD 1.08). The company also expects EBIT to have a significant decline. Announcement • Apr 03
Siltronic AG, Annual General Meeting, May 12, 2025 Siltronic AG, Annual General Meeting, May 12, 2025, at 10:00 W. Europe Standard Time. Announcement • Feb 04
Siltronic AG Proposes Dividend for the Financial Year 2024 Siltronic AG decided to suspend the dividend policy for the 2024 financial year. It plans to propose a reduced dividend of EUR 0.20 for the financial year 2024 to the Annual General Meeting on May 12, 2025. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: €0.73 (vs €1.83 in 2Q 2023) Second quarter 2024 results: EPS: €0.73 (down from €1.83 in 2Q 2023). Revenue: €351.3m (down 13% from 2Q 2023). Net income: €21.8m (down 60% from 2Q 2023). Profit margin: 6.2% (down from 14% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Jun 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 1.2% per year for the foreseeable future. High level of non-cash earnings (42% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (9.9% net profit margin). Upcoming Dividend • May 07
Upcoming dividend of €1.20 per share Eligible shareholders must have bought the stock before 14 May 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 20% but the company is not cash flow positive. Trailing yield: 1.6%. Lower than top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (0.8%). Reported Earnings • May 05
First quarter 2024 earnings released: EPS: €0.86 (vs €2.20 in 1Q 2023) First quarter 2024 results: EPS: €0.86 (down from €2.20 in 1Q 2023). Revenue: €343.5m (down 15% from 1Q 2023). Net income: €25.7m (down 61% from 1Q 2023). Profit margin: 7.5% (down from 16% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has remained flat. New Risk • Apr 18
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings are forecast to decline by an average of 2.5% per year for the foreseeable future. High level of non-cash earnings (43% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (12% net profit margin). Reported Earnings • Mar 13
Full year 2023 earnings released: EPS: €6.15 (vs €13.02 in FY 2022) Full year 2023 results: EPS: €6.15 (down from €13.02 in FY 2022). Revenue: €1.51b (down 16% from FY 2022). Net income: €184.4m (down 53% from FY 2022). Profit margin: 12% (down from 22% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Feb 16
Dividend of €1.20 announced Shareholders will receive a dividend of €1.20. Ex-date: 14th May 2024 Payment date: 16th May 2024 Dividend yield will be 1.2%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 3.1% per year over the past 6 years. However, payments have been volatile during that time. EPS is expected to decline by 73% over the next 3 years. Since a fall of 62% would increase the payout ratio to a potentially unsustainable range, the dividend may be at risk. Reported Earnings • Nov 05
Third quarter 2023 earnings released: EPS: €1.10 (vs €3.32 in 3Q 2022) Third quarter 2023 results: EPS: €1.10 (down from €3.32 in 3Q 2022). Revenue: €349.1m (down 26% from 3Q 2022). Net income: €33.1m (down 67% from 3Q 2022). Profit margin: 9.5% (down from 21% in 3Q 2022). Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: €1.83 (vs €2.66 in 2Q 2022) Second quarter 2023 results: EPS: €1.83 (down from €2.66 in 2Q 2022). Revenue: €403.7m (down 8.7% from 2Q 2022). Net income: €54.9m (down 31% from 2Q 2022). Profit margin: 14% (down from 18% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • May 21
First quarter 2023 earnings released: EPS: €2.20 (vs €3.47 in 1Q 2022) First quarter 2023 results: EPS: €2.20 (down from €3.47 in 1Q 2022). Revenue: €404.4m (down 3.0% from 1Q 2022). Net income: €66.1m (down 37% from 1Q 2022). Profit margin: 16% (down from 25% in 1Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 01
Upcoming dividend of €3.00 per share at 4.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 10 May 2023. Payout ratio is a comfortable 23% but the company is not cash flow positive. Trailing yield: 4.6%. Within top quartile of Swiss dividend payers (4.2%). Higher than average of industry peers (1.1%). Reported Earnings • Mar 11
Full year 2022 earnings released: EPS: €13.02 (vs €8.44 in FY 2021) Full year 2022 results: EPS: €13.02 (up from €8.44 in FY 2021). Revenue: €1.81b (up 28% from FY 2021). Net income: €390.6m (up 54% from FY 2021). Profit margin: 22% (up from 18% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: €3.32 (vs €2.15 in 3Q 2021) Third quarter 2022 results: EPS: €3.32 (up from €2.15 in 3Q 2021). Revenue: €474.0m (up 28% from 3Q 2021). Net income: €99.7m (up 55% from 3Q 2021). Profit margin: 21% (up from 17% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: €2.66 (vs €1.83 in 2Q 2021) Second quarter 2022 results: EPS: €2.66 (up from €1.83 in 2Q 2021). Revenue: €442.2m (up 30% from 2Q 2021). Net income: €79.9m (up 46% from 2Q 2021). Profit margin: 18% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 21% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 10
First quarter 2022 earnings released: EPS: €3.47 (vs €1.67 in 1Q 2021) First quarter 2022 results: EPS: €3.47 (up from €1.67 in 1Q 2021). Revenue: €417.0m (up 32% from 1Q 2021). Net income: €104.2m (up 108% from 1Q 2021). Profit margin: 25% (up from 16% in 1Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 13%, compared to a 27% growth forecast for the industry in Switzerland. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • May 01
Upcoming dividend of €3.00 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 10 May 2022. Payout ratio is a comfortable 36% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of Swiss dividend payers (3.8%). Higher than average of industry peers (1.1%). Reported Earnings • Oct 28
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €371.6m (up 24% from 3Q 2020). Net income: €64.5m (up 100% from 3Q 2020). Profit margin: 17% (up from 11% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €1.83 (vs €1.80 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: €341.1m (up 5.6% from 2Q 2020). Net income: €54.9m (up 1.7% from 2Q 2020). Profit margin: 16% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Reported Earnings • May 08
First quarter 2021 earnings released: EPS €1.67 (vs €1.32 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €316.1m (up 5.3% from 1Q 2020). Net income: €50.1m (up 27% from 1Q 2020). Profit margin: 16% (up from 13% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 24
Upcoming dividend of €2.00 per share Eligible shareholders must have bought the stock before 30 April 2021. Payment date: 04 May 2021. Trailing yield: 1.4%. Lower than top quartile of Swiss dividend payers (3.5%). Higher than average of industry peers (0.6%). Analyst Estimate Surprise Post Earnings • Mar 10
Revenue misses expectations Revenue missed analyst estimates by 0.04%. Over the next year, revenue is forecast to grow 5.0%, compared to a 17% growth forecast for the Semiconductor industry in Switzerland. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS €5.36 (vs €7.52 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.21b (down 5.0% from FY 2019). Net income: €160.8m (down 29% from FY 2019). Profit margin: 13% (down from 18% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 17% per year. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of €162.1m, down 43% from the prior year. Total revenue was €1.23b over the last 12 months, down 9.3% from the prior year. Analyst Estimate Surprise Post Earnings • Nov 01
Third-quarter earnings released: Revenue misses expectations Third-quarter revenue missed analyst estimates by 0.5% at €299.2m. Revenue is forecast to grow 1.4% over the next year, compared to a 12% growth forecast for the Semiconductor industry in Switzerland.