Siltronic Ag Ord

Hello everyone and welcome to the presentation of Siltronics Q2 2026 results. Please note that this call is being recorded and streamed on Siltronics website. The call will also be available as an on-demand version later today. Your participation in this call implies your consent to this. At this time, I would like to turn the conference over to Verena Stutze, Head of Investor Relations and Communications of Siltronic AG. Please go ahead.

Thank you, Cynthia. Welcome everybody to our Q2 2026 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 Heckmeier, and our CFO, Claudia Schmitt, 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 H-126 reporting are available on our website. I now turn the call over to Michael for his remarks.

Thank you, Verena, and a warm welcome also from my side. I would like to begin with the key messages of today's call. Demand is gaining traction. We see a market recovery in the 300-millimeter business. The 200-millimeter conditions are still sluggish, were still sluggish in the first half, but we are expecting a clear volume improvement for the second half of the year. At the same time, the market pattern remains uneven. Although demand for AI-related applications is strong, prices are still lagging behind. In C226, wafer shipments increased and our financial performance developed in line with our expectations. Two important milestones during the quarter were the successful completion of our capital increase and our re-entry into the German MDAX. Both reflect investors' confidence in Synthronix's long-term performance. Finally, based on improved wafer market sentiment for H2, we have slightly edged up our sales guidance for 2026. Now let me give you an update of our performance in the second quarter. Q2 showed a clear sequential improvement. Sales increased to €322 million. which lies 5% above first quarter sales. This was driven by higher wafer area sold as the demand recovery continued to gain traction across large parts of the wafer industry. Profitability improved slightly as well as EBITDA increased to €69 million and the EBITDA margin reached 21.6% compared with 21.2% in Q1. EBIT remained broadly stable at minus €52 million, as a slightly higher depreciation largely offset the EBITDA improvement. CAPEX amounted to €39 million and continues to focus predominantly on our 300 mm activities. Net cash flow improved compared with the first quarter, but remained negative at €27 million, reflecting our continued cash outflow for investments. During the quarter, we also successfully completed our capital increase, further strengthening our financial position and increasing liquidity to 650 million euro at the end of June. Let me now hand over to Claudia for a more detailed review of the financials.