SILTRONIC

Sales down on Previous Year

Lagging demand for silicon wafers and lower prices weighed on sales at Siltronic. Sales decreased 12.5 percent to €867.9 million (2011: €992.1 million). While 300 mm wafer business grew during full-year 2012, there was a slowdown in the 200 mm market and, above all, in the small-diameter wafer segment. Demand was down by more than 20 percent against the previous year. In response, we intensified structural efforts to concentrate smaller-wafer production, closing both the Hikari site (Japan) and a 150 mm wafer line at Portland. The consolidation measures benefited capacity utilization at the remaining facilities for these wafer diameters. Revenues fell below prior-year levels in all regions. Asia remains the strongest market although volumes also decreased there, by 10 percent.

At €0.7 million, EBITDA was much lower than a year earlier (2011: €49.2 million). It included non-recurring expenses of around €15 million relating to the closure of the 150 mm silicon-wafer line at Portland. The EBITDA decline was due mainly to negative price effects and to reduced volumes for smaller-wafer diameters. The EBITDA margin was 0 percent (2011: 5.0 percent).

Investments Are Lower

Siltronic reduced its investments in 2012. At €103.2 million, they were 19.4 percent lower than the previous year (2011: €128.1 million). Expenditures were focused not only on further expanding our Singapore joint venture with Samsung Electronics for 300 mm silicon wafers, but also on improving technologies.

Due to structural measures, Siltronic’s workforce shrank substantially, and the division had 3,978 employees on December 31, 2012 (Dec. 31, 2011: 4,974).

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Key Data: SILTRONIC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

€ million

 

2012

 

2011

 

2010

 

2009

 

2008

 

2007

 

2006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total sales

 

867.9

 

992.1

 

1,024.8

 

637.5

 

1,360.8

 

1,451.6

 

1,263.1

EBITDA

 

0.7

 

49.2

 

87.7

 

-162.4

 

357.3

 

478.1

 

355.6

EBIT

 

-92.2

 

-56.7

 

-3.5

 

-414.7

 

193.8

 

337.2

 

213.1

Investments (asset additions)

 

103.2

 

128.1

 

75.5

 

73.0

 

199.6

 

200.0

 

167.7

R&D costs

 

67.4

 

71.7

 

72.3

 

62.9

 

67.7

 

63.9

 

63.2

Employees (December 31, number)

 

3,978

 

4,974

 

5,025

 

5,096

 

5,469

 

5,634

 

5,585