Siltronic AG: Siltronic adjusts forecast based on approval of greenfield investment at its site in Singapore
DGAP-Ad-hoc: Siltronic AG / Key word(s): Change in Forecast
Siltronic AG Siltronic adjusts forecast based on approval of greenfield investment at its site in Singapore Germany, Munich, July 27, 2021 - To support the strong demand of the tight semiconductor market, the Executive Board of Siltronic AG has decided to build a second 300 mm fab at its site in Singapore and the Supervisory Board today approved this investment. The project will support the strong market demand and expansion projects of important customers that cannot be served with current capacities. It is planned to secure the utilization of a large part of the new capacities through long-term agreements with prepayments. Based on current planning, capex for this project will be around EUR 2 billion until the end of 2024. The project will be financed in particular by existing liquidity and free cash flow as well as customer prepayments, debt and - if required - equity measures. Based on the good cooperation with the Economic Development Board in Singapore the study phase was finished quickly and construction of the new fab is planned to start already in 2021. Furthermore, it was decided to expand Siltronic's German site in Freiberg which will increase crystal pulling and expitaxy capacities. With these investments Siltronic's central R&D hub in Burghausen, providing technological support for the planned expansions, will be further strengthened. Due to the expansion projects, capex is expected to raise from EUR 250 million to around EUR 400 million in 2021. The Executive Board now expects a decline in net cash flow compared to 2020 but it will stay slightly positive (so far: forecast of April 20, 2021: significant increase compared to 2020). Additional information ISIN: DE000WAF3001 / DE000WAF3019 Contact:
Important Information This document includes - in the applicable financial reporting framework not clearly defined - supplemental financial measures that are or may be alternative performance measures. These supplemental financial measures should not be viewed in isolation or as an alternative to measures of Siltronic's net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report 2020 of Siltronic AG.
27-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | Siltronic AG |
Einsteinstr. 172 | |
81677 Munich | |
Germany | |
Phone: | +49 89 8564 3133 |
Fax: | +49 89 8564-3904 |
E-mail: | investor.relations@siltronic.com |
Internet: | www.siltronic.com |
ISIN: | DE000WAF3001 |
WKN: | WAF300 |
Indices: | SDAX, TecDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange |
EQS News ID: | 1222054 |
End of Announcement | DGAP News Service |
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1222054 27-Jul-2021 CET/CEST