Earnings release
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*excluding impact from revenue recognized over time according to IFRS 15 X-FAB Silicon Foundries SE | Press Release October 30, 2025 Regulated Information X-FAB Third Quarter 2025 Results Intermediate declaration by the Board of Directors Tessenderlo-Ham, Belgium – October 30, 2025, 05.40 p.m. CET Highlights Q3 2025: › Revenue was USD 228.6 million, up 11% year-on-year (YoY) and up 6% quarter-on-quarter (QoQ) › Excluding the impact from revenue recognized over time (IFRS 15), revenue was USD 228.9 million, well above the guided range of USD 215-225 million › EBITDA at USD 53.9 million, up 7% YoY and up 4% QoQ › EBITDA margin of 23.6%; excluding IFRS 15 impact, EBITDA margin was 24.2%, compared to the guidance of 22.5-25.5% › EBIT was USD 23.8 million, down 5% YoY and up 10% QoQ Outlook: › Q4 2025 revenue is expected to come in within the range of USD 215-225 million with an EBITDA margin in the range of 22.5% and 25.5%. This corresponds to a full-year revenue in the range of USD 863- 873 million in 2025. › The guidance is based on an average exchange rate of 1.17 USD/Euro and does not take into account the impact of IFRS 15. Revenue breakdown per quarter: in millions of USD Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 y-o-y growth Automotive 151.8 135.6 142.4 146.0 128.6 135.4 143.4 146.9 1% Industrial 54.3 52.6 34.4 31.5 36.1 39.3 47.2 47.6 51% Medical 16.4 14.5 13.2 12.1 16.5 13.8 15.1 21.2 74% Subtotal core business 222.5 202.6 190.1 189.6 181.2 188.6 205.7 215.7 14% 92.8% 92.6% 93.7% 92.9% 92.1% 93.2% 94.2% 94.2% CCC1 17.2 16.0 12.6 14.2 15.1 13.6 12.2 13.3 -7% Others 0.1 0.1 0.1 0.1 0.5 0.2 0.4 0.0 Revenue* 239.8 218.7 202.8 204.0 196.8 202.3 218.3 228.9 12% Impact from revenue recognized over time -2.0 -2.6 2.3 2.4 -8.0 1.8 -3.0 -0.3 Total revenue 237.7 216.2 205.1 206.4 188.8 204.1 215.3 228.6 11% 1Consumer, Communications & Computer
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*excluding impact from revenue recognized over time according to IFRS 15 X-FAB Silicon Foundries SE | Press Release October 30, 2025 in millions of USD Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q3 y-o-y growth CMOS 188.4 168.3 166.2 175.0 170.8 173.4 185.1 191.8 10% Microsystems 27.9 24.1 25.1 21.6 20.2 22.9 25.3 27.5 27% Silicon carbide 23.5 26.3 11.6 7.4 5.8 6.0 7.9 9.6 30% Revenue* 239.8 218.7 202.8 204.0 196.8 202.3 218.3 228.9 12% Impact from revenue recognized over time -2.0 -2.6 2.3 2.4 -8.0 1.8 -3.0 -0.3 Total revenue 237.7 216.2 205.1 206.4 188.8 204.1 215.3 228.6 11% Business development In the third quarter of 2025, X-FAB recorded revenues of USD 228.6 million, up 11% year-on-year and up 6% quarter-on-quarter. Excluding the impact from revenue recognized over time, quarterly revenue was USD 228.9 million, which is well above the guidance of USD 215-225 million. Third quarter revenue in X-FAB’s core markets – automotive, industrial, and medical – was at USD 215.7 million*, up 14% year-on-year and up 5% quarter-on-quarter, representing a share of 94%* of total revenue. Order intake for the third quarter amounted to USD 163.0 million, down 25% year-on-year and down 21% compared to the previous quarter. This is primarily due to continued inventory corrections by automotive customers as well as broader macroeconomic uncertainties resulting from geopolitical tensions and trade disputes. These factors have led to more cautious ordering patterns, while customers also take advantage of shorter cycle times placing orders later than usual and with reduced lead time. As a result, visibility is still restricted. The backlog for the third quarter came in at USD 346.9 million, compared to USD 412.9 million at the end of the preceding quarter. In the third quarter, X-FAB generated automotive revenue of USD 146.9 million*, up 1% year-on-year and up 2% quarter-on-quarter. Third quarter industrial revenue was USD 47.6 million*, up 51% year-on-year and 1% sequentially, reflecting the overall recovery of the industrial end market. The gradual recovery of X-FAB’s silicon carbide (SiC) business contributed to this positive evolution. Medical revenue in the third quarter hit a record USD 21.2 million*, up 74% year-on-year and 40% quarter-on-quarter, highlighting the steady growth of X-FAB’s medical business. Third quarter growth was mainly driven by contactless temperature sensors, DNA sequencing, and echography applications. In the third quarter, CMOS revenue recorded a growth of 10%* year-on-year and 4%* quarter-on-quarter; microsystems revenue was up 27%* year-on-year and 9%* sequentially. X-FAB’s SiC business continued to recover, and revenue grew strongly by 30%* year-on-year and 21%* quarter-on-quarter. The number of SiC wafers produced in the third quarter more than doubled year-on-year. SiC revenue growth is partially diluted by the much higher share of SiC raw wafers being supplied by customers today as compared to a year ago.
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*excluding impact from revenue recognized over time according to IFRS 15 X-FAB Silicon Foundries SE | Press Release October 30, 2025 This results in lower total billing due to less pass-through of substrate costs. The positive trend in the evolution of X-FAB’s SiC business is underpinned by increasing bookings attributable to sustained demand from data center, electric vehicle, and renewable energy applications. Quarterly prototyping revenue was USD 19.7 million*, down 16% year-on-year and 6% quarter-on-quarter. Prototyping and production revenue* per quarter and end market: Operations update In September, X-FAB announced the inauguration of its new cleanroom in Malaysia, which will increase the site’s manufacturing capacity from 30,000 to 40,000 wafer starts per month. Production at the new facility is being scaled up progressively, with the full increase in capacity anticipated by the fourth quarter of 2026. Th e expansion will effectively double the capacity for X-FAB’s popular 180nm BCD-on-SOI technology, which is particularly suited for applications such as smart motor drivers, smart LED drivers, and battery management systems. The recovery of X-FAB’s silicon carbide business is supported by the existing SiC capacity at its Texas facility. The current installed capacity, combined with additional capacity scheduled to become operational by the end of 2026, will enable X-FAB to more than double its present production run rate without necessit ating significant further investment. Capital expenditures for the third quarter amounted to USD 23.5 million, bringing total capex as of September 30 to USD 178.9 million. The full-year capital expenditure projection remains unchanged at USD 250 million. in millions of USD Revenue Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Automotive Prototyping 9.3 8.9 4.7 5.1 5.5 Production 136.7 119.7 130.8 138.2 141.4 Industrial Prototyping 8.2 9.6 8.8 12.1 9.7 Production 23.3 26.5 30.5 35.2 37.9 Medical Prototyping 3.0 2.3 1.5 1.8 2.8 Production 9.1 14.2 12.3 13.2 18.4 CCC Prototyping 3.0 2.6 1.1 1.7 1.6 Production 11.3 12.6 12.5 10.5 11.6
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*excluding impact from revenue recognized over time according to IFRS 15 X-FAB Silicon Foundries SE | Press Release October 30, 2025 Financial update Third quarter EBITDA was USD 53.9 million with an EBITDA margin of 23.6%. Excluding the impact from revenues recognized over time, the EBITDA margin would have been 24.2%, within the guided range of 22.5- 25.5%. Profitability remains unaffected by exchange rate fluctuations as X-FAB’s business is naturally hedged. At a constant USD/Euro exchange rate of 1.10 as experienced in the previous year’s quarter, the EBITDA margin would have been unchanged at 23.6%. In the third quarter, X-FAB reported a financial result of USD -5.6 million, primarily comprising an interest result of USD -4.3 million. Unrealized foreign exchange losses arising from the revaluation of Euro- denominated debt amounted to USD 0.8 million (non-cash). Cash and cash equivalents at the end of the third quarter amounted to USD 174.2 million, up 16.5 million compared to the previous quarter, while net debt decreased by USD 21.1 million quarter-on-quarter. Management comments Rudi De Winter, CEO of X-FAB Group, commented: “X-FAB continued to grow in the third quarter, posting a solid increase in revenue for the third consecutive period amid a challenging macroeconomic environment. There is significant interest in our specialty technologies. Our silicon carbide business has made measurable progress, with growing design activity on our latest SiC technology platform. Additionally, our Microsystems division continues to advance with collaborative co-creation projects enhancing our growth pipeline. While visibility continues to be limited, I am confident in X-FAB’s positioning that supports sustained long-term business success.”
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X-FAB Silicon Foundries SE | Press Release October 30, 2025 X-FAB Quarterly Conference Call X-FAB’s third quarter results will be discussed in a live conference call/audiocast on Thursday, October 30, 2025, at 6.30 p.m. CET. The conference call will be in English. Please register here for the audiocast (listen only). Please register here for the conference call (listen and ask questions). Financial calendar February 5, 2026 Publication of Q4 2025 results March 31, 2026 Publication of Annual Report 2025 April 30, 2026 Publication of Q1 2026 results/ Annual Shareholders’ Meeting 2026 About X-FAB X-FAB is a global foundry group providing a comprehensive set of specialty technologies and design IP to enable its customers to develop world-leading semiconductor products that are manufactured at X-FAB's six wafer fabs located in Malaysia, Germany, France, and the United States. With its expertise in analog/mixed-signal technologies, microsystems/MEMS and silicon carbide (SiC), X-FAB is the development and manufacturing partner for its customers, primarily serving the automotive, industrial and medical end markets. X-FAB has approximately 4,300 employees and has been listed on Euronext Paris since April 2017 (XFAB). For more information, please visit www.xfab.com. X-FAB Press Contact Uta Steinbrecher Investor Relations X-FAB Silicon Foundries +49-361-427-6489 uta.steinbrecher@xfab.com Forward-looking information This press release may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management’s current intentions, beliefs or expectations relating to, among other things, X- FAB’s future results of operations, financial condition, liquidity, prospects, growth, strategies, or developments in the industry in which we operate. By their nature, forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results or future events to differ materially from those expressed or implied thereby. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this press release regarding trends or current activities should not be taken as a report that such trends or activities will continue in the future. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless legally required. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this press release. The information contained in this press release is subject to change without notice. No re-report or warranty, express or implied, is made as to the fairness, accuracy, reasonableness, or completeness of the information contained herein and no reliance should be placed on it.
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X-FAB Silicon Foundries SE | Press Release October 30, 2025 Condensed consolidated statement of profit and loss Amounts in the financial tables provided in this press release are rounded to the nearest thousand except when otherwise indicated, rounding differences may occur. *excluding impact from revenue recognized over time in accordance with IFRS 15 in thousands of USD Quarter ended 30 Sep 2025 unaudited Quarter ended 30 Sep 2024 unaudited Quarter ended 30 Jun 2025 unaudited Nine months ended 30 Sep 2025 unaudited Nine months ended 30 Sep 2024 unaudited Revenue* 228,884 203,982 218,275 649,491 625,541 Impact from revenue recognized over time -319 2,384 -2,992 -1,531 2,079 Total revenue 228,565 206,366 215,283 647,961 627,620 Revenues in USD in % 56 56 56 57 59 Revenues in EUR in % 44 44 44 43 41 Cost of sales -180,281 -155,162 -165,350 -505,107 -481,184 Gross profit 48,284 51,204 49,933 142,853 146,436 Gross profit margin in % 21.1 24.8 23.2 22.0 23.3 Research and development expenses -12,369 -13,087 -13,458 -36,818 -35,581 Selling expenses -2,088 -2,177 -2,407 -6,743 -6,857 General and administrative expenses -12,406 -11,369 -13,393 -37,197 -35,840 Rental income and expenses from investment properties 480 534 785 2,042 2,362 Other income and other expenses 1,887 -147 232 2,456 4,455 Operating profit 23,788 24,957 21,693 66,593 74,976 Finance income 4,143 12,191 19,612 30,249 24,744 Finance costs -9,774 -10,945 -36,994 -60,452 -26,017 Financial result -5,631 1,246 -17,382 -30,204 -1,273 Profit before tax 18,157 26,204 4,311 36,390 73,703 Income tax -1,573 -254 -4,702 -7,995 -4,872 Profit for the period 16,584 25,950 -392 28,395 68,831 Operating profit (EBIT) 23,788 24,957 21,693 66,593 74,976 Depreciation 30,078 25,345 29,896 87,923 74,137 EBITDA 53,866 50,302 51,589 154,516 149,113 EBITDA margin in % 23.6 24.4 24.0 23.8 23.8 Earnings per share 0.13 0.20 0.00 0.22 0.53 Weighted average number of shares 130,631,921 130,631,921 130,631,921 130,631,921 130,631,921 EUR/USD average exchange rate 1.16772 1.09825 1.13337 1.11802 1.08740
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X-FAB Silicon Foundries SE | Press Release October 30, 2025 Condensed consolidated statement of financial position in thousands of USD Quarter ended 30 Sep 2025 unaudited Quarter ended 30 Sep 2024 unaudited Year ended 31 Dec 2024 audited ASSETS Non-current assets Property, plant, and equipment 1,211,016 1,005,438 1,144,620 Investment properties 7,083 7,478 7,412 Intangible assets 6,501 6,053 6,319 Other non-current assets 29 46 42 Deferred tax assets 64,482 83,277 66,725 Total non-current assets 1,289,111 1,102,293 1,225,118 Current assets Inventories 287,471 284,146 281,765 Contract assets 16,561 26,090 18,092 Trade and other receivables 95,100 91,307 96,648 Other assets 85,949 45,154 69,253 Cash and cash equivalents 174,225 315,917 215,837 Total current assets 659,306 762,613 681,595 TOTAL ASSETS 1,948,417 1,864,905 1,906,713 EQUITY AND LIABILITIES Equity Share capital 432,745 432,745 432,745 Share premium 348,709 348,709 348,709 Retained earnings 270,359 249,557 241,648 Cumulative translation adjustment 580 465 462 Treasury shares -770 -770 -770 Total equity 1,051,623 1,030,707 1,022,794 Non-current liabilities Non-current loans and borrowings 403,356 333,757 369,616 Other non-current liabilities and provisions 2,690 4,833 4,257 Total non-current liabilities 406,047 338,590 373,873 Current liabilities Trade payables 40,978 48,962 67,658 Current loans and borrowings 63,823 33,492 44,517 Other current liabilities and provisions 385,946 413,155 397,872 Total current liabilities 490,747 495,608 510,046 TOTAL EQUITY AND LIABILITIES 1,948,417 1,864,905 1,906,713
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X-FAB Silicon Foundries SE | Press Release October 30, 2025 Condensed consolidated statement of cash flows in thousands of USD Quarter ended 30 Sep 2025 unaudited Quarter ended 30 Sep 2024 unaudited Quarter ended 30 Jun 2025 unaudited Nine months ended 30 Sep 2025 unaudited Nine months ended 30 Sep 2024 unaudited Income before taxes 18,157 26,204 4,311 36,390 73,703 Reconciliation of income before taxes to cash flow arising from operating activities: 37,235 21,988 52,164 120,348 74,692 Depreciation and amortization, before effect of grants and subsidies 30,078 25,345 29,896 87,923 74,137 Amortization of investment grants and subsidies -1,601 -924 -1,229 -4,062 -2,221 Interest income and expenses (net) 4,302 2,308 4,316 12,373 2,961 Loss/(gain) on the sale of plant, property, and equipment (net) -1,403 -312 -55 -1,511 -4,083 Loss/(gain) on the change in fair value of derivatives and financial assets (net) 483 1,144 -4,160 -3,677 1,144 Other non-cash transactions (net) 5,376 -5,573 23,396 29,301 2,754 Changes in working capital: -1,433 29,732 -25,537 -33,752 36,420 Decrease/(increase) of trade receivables 16,463 17,693 -16,471 1,289 36,156 Decrease/(increase) of other receivables and other assets -5,240 1,361 -6,646 -5,325 20,191 Decrease/(increase) of inventories 736 -6,559 -6,896 -5,706 -12,113 Decrease/(increase) of contract assets 319 -2,384 2,992 1,531 -2,079 (Decrease)/increase of trade payables 656 -3,323 -1,047 -4,542 -17,898 (Decrease)/increase of other liabilities -14,367 22,944 2,532 -20,999 12,164 Income taxes (paid)/received -4,023 914 -337 -5,255 -1,754 Net cash from operating activities 49,936 78,838 30,602 117,730 183,061 Cash flow from investing activities: Payments for property, plant, equipment and intangible assets -23,455 -149,775 -53,726 -178,911 -376,648 Acquisition of subsidiary, net of cash acquired 0 0 0 0 -1,634 Proceeds from sale of property, plant, and equipment 1,467 312 65 1,585 4,123 Interest received 994 2,644 1,022 3,180 9,060 Net cash used in investing activities -20,993 -146,820 -52,639 -174,146 -365,099
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X-FAB Silicon Foundries SE | Press Release October 30, 2025 Condensed consolidated statement of cash flows – con’t ### in thousands of USD Quarter ended 30 Sep 2025 unaudited Quarter ended 30 Sep 2024 unaudited Quarter ended 30 Jun 2025 unaudited Nine months ended 30 Sep 2025 unaudited Nine months ended 30 Sep 2024 unaudited Cash flow from (used in) financing activities: Proceeds from loans and borrowings 5,467 78,634 21,668 56,038 171,535 Repayment of loans and borrowings -6,368 -20,582 -17,469 -44,918 -120,339 Receipts of sale and leaseback arrangements 0 32,766 26,925 30,020 59,234 Payments of lease installments -4,727 -5,080 -9,131 -18,004 -9,309 Interest paid -5,851 -4,834 -4,851 -15,519 -13,466 Cash flow from (used in) financing activities -11,478 80,903 17,142 7,617 87,655 Effect of changes in foreign currency exchange rates on cash balances -918 12,941 5,334 7,187 4,599 Increase/(decrease) of cash and cash equivalents 17,464 12,921 -4,895 -48,799 -94,383 Cash and cash equivalents at the beginning of the period 157,678 290,054 157,240 215,837 405,701 Cash and cash equivalents at the end of the period 174,225 315,917 157,678 174,225 315,917