SoFi shares rise as record revenue, member growth drive strong Q3 results
Investing.com -- Siltronic AG (ETR:WAFGn) on Tuesday reported third-quarter results in line with expectations, with cost-saving measures easing pressure from lower volumes and weaker pricing.
The German silicon wafer manufacturer kept its full-year 2025 guidance unchanged, despite a softer euro and continued operational costs from its Singapore expansion.
Revenue for the quarter fell 16% year over year and 8.7% from the previous quarter to €300.3 million, missing the company consensus of €311.2 million.
EBITDA declined 27% from a year earlier and 24% from the previous quarter to €65.7 million, just below consensus of €67.7 million.
Operating income was reported at negative €31.4 million, compared with an expected negative €43.3 million, while net income totaled to negative €43.9 million versus consensus of negative €45.6 million.
Jefferies analysts said, “Siltronic’s Q3 print came in in line with expectations. Cost saving measures helped offset some of the pressure on the bottom line from the volume shifts into Q4, while cash outflow has improved.”
They added that “Q3 marks another potential bottom,” with volumes expected to “start trending positively as the inventory drawdown continues.”
Sales were affected by planned production shifts into the fourth quarter, adverse foreign exchange impacts, and lower selling prices.
The gross margin dropped to negative 1.2% from 18.3% in the second quarter, driven by higher depreciation and amortization and ramp-up costs related to the company’s Singapore facility.
Net cash outflow improved to negative €30.1 million, compared with negative €83.4 million in the prior quarter. Net debt rose to €932.7 million, or about 2.9 times net debt to EBITDA, up from €733.5 million at the end of fiscal 2024. The equity ratio slipped to 42.6% from 43.6%.
Siltronic confirmed its full-year 2025 outlook, refining several metrics. The company expects sales to be a mid–single-digit percentage below the prior year, or about €1.35 billion based on a 5% decline.
The assumption for the second-half euro–dollar exchange rate was adjusted to 1.17 from 1.15 previously. The EBITDA margin forecast was set between 22% and 24%, compared with the prior range of 21% to 25%, implying EBITDA between €292 million and €325 million.
Depreciation and amortization are projected at €340 million to €360 million, and capital expenditure between €360 million and €380 million.
Jefferies reiterated its “buy” rating on the Munich-based company with a price target of €75, a 28% upside from the prior closing price of €58.75.
The brokerage noted that while no major recovery is yet evident, continued inventory normalization may support gradual volume stabilization into 2026.