Siltronic Ag Ord

Hello, everyone, and welcome to the presentation of Siltronics Q3 2025 results. Please note that this call is being recorded and streamlined on Siltronics' website. The call will also be available as an on-demand version later today. Your participation in this call implies your consent with this. At this time, I would like to turn the conference over to Stephanie Malgara, Senior Manager, Investor Relations at Siltronic. Please go ahead.

Thank you, Cynthia. Welcome, everybody, to our Q3 2025 results presentation. This call will also be webcast live on Siltronic.com. A replay of the call will be available on our website shortly after the end of the call. Our CEO, Michael Heckmeyer, and our CFO, Claudia Schmidt, will give you an overview of our financials, the current market developments, and our guidance. After the presentation, we will be happy to take your questions. Please note that management comments during this call will include forward-looking statements that involve risks and uncertainties. For a discussion of risk factors, I encourage you to review the safe harbor statement contained in today's press release and presentation. All documents relating to our Q3 2025 reporting are available on our website. I now turn the call over to Michael for his remarks.

Thank you, Stephanie, and a warm welcome also from my side. Let me start with the key messages of today's call. As anticipated, Q3 was the weakest quarter of the year, mainly driven by expected volume shifts into Q4 and FX effects. The market environment remains challenging, and waiver demand continues to be soft, in line with the trend we have observed in recent quarters. We manage the situation by taking active measures to control costs and cash. At the same time, we stay close to our customers, ensuring that we align production and deliveries with actual demand and remain a reliable partner. These measures help us to navigate the current environment effectively and deliver on our commitments. Today, we can confirm and specify our guidance for the full year, although we had to further adjust the FX assumption as the weakening US dollar remains a relevant factor for our performance. Finally, as you have probably seen in the media over the past few weeks, there has been some positive news flow from the semiconductor industry. Several companies in our sector have improved their results, clearly benefiting from the ongoing AI momentum, particularly in the memory segment, which has gained further traction in recent months. I would like to emphasize that these effects are not yet visible in the short term for Siltronic, as some of our customers are still in the process of normalizing their inventory levels. Nevertheless, we see these announcements as confirmation of the long-term growth trend of the semiconductor and wafer industry. and we are well positioned to benefit once demand is further picking up.