Siltronic AG annual general meeting
At the Annual General Meeting of Siltronic AG, held in Munich on May 9, 2017, the company’s shareholders approved the agenda items by a broad voting majority. Approximately 74 percent of Siltronic AG share capital was represented at the Annual General Meeting. The actions of the members of the Siltronic AG Executive and Supervisory Boards were endorsed, and by another resolution, KPMG AG Wirtschaftsprüfungsgesellschaft, Munich, was appointed as auditor for financial year 2017.
In his presentation to shareholders, CEO Dr. Christoph von Plotho gave a comprehensive review of financial year 2016 and discussed the outlook for 2017.
He said: “2016 was a successful year for Siltronic. Demand for our wafers rose from quarter to quarter. In the third and fourth quarters, our 300mm and 200mm production lines were fully loaded.” The high demand enabled the company to implement in part substantial price increases for 300mm wafers starting in the first quarter of 2017. Prices for 200mm wafers increased as well.
Von Plotho discussed plans to invest roughly EUR 100 million in measures aimed at keeping the company competitive. He commented: “Since 2010 we have achieved a more than 40 percent reduction in variable production cost for 300mm wafers. At the same time, several production lines have reached record productivity, in 2015 and again in 2016. And we continue in our efforts to improve these results further.”
Siltronic started well into 2017, recording sales of EUR 258 million and an EBITDA of around EUR 53 million. The 300mm and 200mm production lines remain at full capacity. The company posted a solid net profit of EUR 17 million for the first quarter of 2017 and earnings per share of EUR 0.56.
Von Plotho described the market environment as favorable in 2017, citing the trend toward more powerful, energy-saving chips, which will remain in place for years to come. This means that the semiconductor industry will require high-quality wafers. “Siltronic is always among the best when it comes to design rule development” von Plotho declared.
Detailed voting results and a transcript of the speech by Siltronic AG CEO Dr. Christoph von Plotho are available at www.siltronic.com under Investor Relations -> Annual General Meeting.
