Annual general Meeting of Siltronic AG
n his speech, Chief Executive Officer Dr. Christoph von Plotho gave shareholders a comprehensive overview of Siltronic AG and the financial results for financial year 2015. “We generated sales of EUR 931 million and even succeeded in increasing this figure by 9 percent compared to 2014, despite inventory corrections by our customers in the second half and the seasonal slowdown at the end of the year,” he explained.
The company got off to a good start to the new year in the first quarter of 2016 by posting sales of EUR 221 million and EBITDA of just under EUR 24 million.
Nevertheless, the market environment in 2016 remains challenging for Siltronic. The company currently expects sales which will be in the low to mid single-digit percentage range below the level of the previous financial year. The company expects to achieve a slight improvement in its EBITDA margin due to significantly lower currency effects from hedging and positive effects from the ongoing cost reduction program, however.
Von Plotho also discussed the planned investments of around EUR 80 million in his speech. These mainly relate to a new crystal pulling hall at the site in Freiberg, the replacement of obsolete crystal pullers with state-of-the-art equipment and continued automation of manufacturing. These investments will help the company to remain competitive. “We can only achieve this if we continue to increase our yields, keep our technology up to date and increase our productivity,” von Plotho emphasized.
The detailed voting results as well as the speech of the CEO of Siltronic AG, Dr. Christoph von Plotho, are available in the Investor Relations/Annual General Meeting section at www.siltronic.com.
This press release contains forward-looking statements based on assumptions and estimates of Siltronic’s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. Siltronic does not plan to update the forward looking statements, nor does it assume the obligation to do so.
The contents of this press information refer equally to men and women. To aid readability, the male pronoun has been used (e.g. he/his).