X-fab Silicon Foundries Se · EURONEXT:XFAB
X-fab Silicon Foundries — X-Fab — Q3 2026 Earnings Presentation
51 slides from X-fab Silicon Foundries's earnings presentation, October 2026
Slide 1: The specialty foundry for the analog world
The SPECIALTY foundry for the analog world Investor presentation // Q3 2026
Slide 2: Disclaimer
Disclaimer Forward-looking information › This presentation may include forward-looking statements. regarding trends or current activities should not be taken as a Forward-looking statements are statements regarding or report that such trends or activities will continue in the future. based upon our
Slide 3: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 3
Slide 4: Key investment highlights
Key investment highlights › Specialty foundry for power, sensing, and microsystems › Positioned for data center growth with power and photonics applications › Providing strong design support and IP drives long-term › Expert for the development and production of analog/mixed- customer engagement with
Slide 5: X-FAB at a glance
X-FAB at a glance 6 manufacturing sites 870 m$ revenue in 2025 ~4,000 employees 5
Slide 6: Foundries and their role in the value chain
Foundries and their role in the value chain › Focus on complex technology, design support and › X-FAB does not have own products, as it does not want to manufacturing solutions compete with its customers Semiconductor Process Design IP technology IC wafer IC assembly value chain development IC desig
Slide 7: Analog vs. digital – a clear differentiation
Analog vs. digital – a clear differentiation Analog/mixed-signal Digital › Low capacity and technology capex › High capacity and technology capex › Long product lifecycle › Short product lifecycle › High tech differentiation › Latest technology node differentiation › Large portfolio of process techn
Slide 8: Business units
Business units Comprehensive portfolio of technologies Smart CMOS & SOI Microsystems & Photonics Wide bandgap › Feature-rich technology portfolio › MEMS with or without integrated › 6-inch silicon carbide (SiC) offering the integration of various CMOS › 8-inch gallium nitride (GaN) on functionalitie
Slide 9: Serving strongly growing end markets
Serving strongly growing end markets Automotive Industrial Medical Electrification Data center and AI Personal medical devices Safety Robots and physical AI Medical equipment Comfort and convenience Sustainable energy Lab-on-a-chip Smart buildings and cities 9
Slide 10: We are setting the benchmark in support
We are setting the benchmark in support X-FAB’s close relationships with customers create barriers to entry for competitors. Unique tools Robust for First-Time- design flow Right Long 24/7 PDKs lifetime expert with proven product hotline ESD support Largest IP Application Design offering experts rev
Slide 11: Continuously growing, diversified and global customers
Continuously growing, diversified and global customers We have a diverse base of more than 400 customers worldwide. No. of automotive customers 58 57 41 › About 1,650 unique products in production plus 392 403 535 new products in prototyping stage. <10 333 154 › Top 5 customers accounted for 58% of
Slide 12: Diversified product range
Diversified product range Average revenue per customer per product in 2025 Revenue share per customer in 2025 › Low risk due to highly diversified portfolio of end products Top 1 43.5 % Top 2 5.5 % › About 1,650 unique products in production Top 3 3.7 % › X-FAB is #1 foundry supplier for 12 out of t
Slide 13: Long product lifetimes
Long product lifetimes Many products in production for more than 20 years 2025 2024 2023 Wafer delivery per year 2022 sorted by year of product launch 2021 2020 1,000,000 2019 2018 900,000 2017 Each color 2016 800,000 2015 represents all new product launches Wafer quantity 2014 700,000 2013 in a giv
Slide 14: Prototyping translating into production
Prototyping translating into production Illustrative lifecycle for automotive product Technology Characterization selection & & finetuning Safe launch Mass chip design First prototype Qualification Volume ramp-up production 3 6 9 12 15 18 ~18 >60 Months › At least 12 months of finalizing chip design
Slide 15: Responsible growth – ESG objectives
Responsible growth – ESG objectives Drive technological innovation to support Promote diversity and inclusion within the sustainability goals for climate action and workplace to ensure equal opportunities health and well-being. for all employees. Reduce carbon footprint, normalized to Lower water co
Slide 16: Responsible growth – sustainability at X-FAB
Responsible growth – sustainability at X-FAB Environment Sustainable Supply Health & Safety › Constantly increasing environmental awareness › Global supplier selection process in place › Environmental, Health and Safety (EHS) policy and responsibility in place to ensure health and safety of our › Su
Slide 17: Responsible growth – sustainability at X-FAB
Responsible growth – sustainability at X-FAB Human Rights & Ethics Social Commitment Governance › Strong set of corporate values that include › Global and local activities relating to social and › Strictly complying with insider trading rules and customer orientation and innovation educational topic
Slide 18: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 18
Slide 19: Our growth strategy going forward
Our growth strategy going forward › Expand X-FAB’s leading position in specialized analog/mixed- › Serve data centers, AI, and robotics with power management, signal technologies photonics, and sensors expertise › Leverage expertise in microsystems, photonics, and wide › Diversify X-FAB’s business i
Slide 20: X-FAB semiconductors are key
X-FAB semiconductors are key We enable the development of sustainable and energy-efficient products across all sectors – in automotive, industrial and medical Electrification of everything Aging populations AI era › Power management › Digital healthcare › Data centers › IoT sensing › Sensors & actua
Slide 21: Business highlights – Automotive
Business highlights – Automotive › Automotive revenue in Q3 2026 was down 19% year-on-year and up 3% quarter-on-quarter › Strong increase in automotive bookings in the third quarter, up 41% year-on-year and 22% quarter-on-quarter, supporting the anticipated recovery in H2 2026 Automotive revenue 160
Slide 22: X-FAB’s business – Automotive
X-FAB’s business – Automotive X-FAB delivers into Comfort & combustion cars and EVs convenience In-vehicle network Window & door control CAN/LIN Transceiver Intelligent key systems Ethernet Climate control Safe-by-wire Seat control In-car data bus Mirror & wiper control Adaptive cruise control Inter
Slide 23: The right technology mix for the electrification of cars
The right technology mix for the electrification of cars SiC & GaN High voltage + NVM CMOS On-chip HV isolation › Wide bandgap (SiC & GaN) as technology of › High voltage in combination with sensors, › Galvanic isolation technology required for electric choice for power applications analog/mixed-sig
Slide 24: Business highlights – Industrial
Business highlights – Industrial › Industrial revenue in Q3 2026 was up 4% year-on-year and up 10% quarter-on-quarter › Strong increase in silicon carbide revenue, up 68% year-on-year across all end markets Industrial revenue 60 50 40 in $m 30 20 10 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 25: X-FAB’s business – Industrial
X-FAB’s business – Industrial “Electrification of everything” and “smart everywhere” Renewable energy driving growth in industrial › Residential energy storage › Inverter for PV › Gate drivers for wind turbines Data center & AI Smart cities & › Power management › Thermal management buildings › Photo
Slide 26: Serving the data center infrastructure market
Serving the data center infrastructure market Power Sense & control Connect Efficiently converting, regulating Supporting the operation and Moving data optically within and distributing energy security of data centers and between AI clusters › SiC & GaN power devices › Temperature sensors › Silicon
Slide 27: Leading silicon carbide foundry
Leading silicon carbide foundry X-FAB is the world’s first and leading SiC pure-play foundry Applications High-volume manufacturing fab, automotive certified High quality and yield Data center – power Next-generation process development with healthy customer management for and product pipeline highe
Slide 28: Silicon photonics
Silicon photonics Combining the best of silicon and advanced photonics Applications Many emerging applications from high- Co-optimization of technology, design, and system leveraging X-FAB’s expertise in speed data transmission to sensing heterogeneous integration Significantly increases value creat
Slide 29: Business highlights – Medical
Business highlights – Medical › Medical revenue in Q3 2026 was down 10% year-on-year and down 9% quarter-on-quarter › Strong demand for ultrasound and pacemaker applications was partly offset by lower orders for a major customer’s lab-on-a-chip device and lower demand for temperature sensors Medical
Slide 30: X-FAB’s business – Medical
X-FAB’s business – Medical Medical equipment › Medical ultrasound › Xray › CT scanner › PET scanner Personal medical devices › Hearing aids, cochlear Lab-on-a-chip implants › Pacemaker › Drug testing & › Contactless thermometer development › Glucose meter › Fast sepsis detection › DNA sequencing 30
Slide 31: Connecting the two worlds of microelectronics and microfluidics
Connecting the two worlds of microelectronics and microfluidics Smart integrated microfluidic systems gaining ground X-FAB – at home in both worlds › Biological and pharmaceutical research is making significant progress assisted › X-FAB’s expertise and experience in microelectronics and microfluidic
Slide 32: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 32
Slide 33: Company news
Company news 28 Sep-02 Oct 2026 | Yokohama, Japan X-FAB showcases Wide Bandgap Offering at ICSCRM in Japan X-FAB showcased its SiC and GaN manufacturing capabilities at ICSCRM 2026 in Yokohama, engaging with the international wide-bandgap semiconductor community. › 28 September 2026 X-FAB supports d
Slide 34: Content
Content 01 About X-FAB 02 Our growth strategy going forward 03 Company news 04 Financial update 34
Slide 35: Q3 2026 at a glance
Q3 2026 at a glance Revenue* & bookings by quarter Key takeaways 300 › Q3 revenue at USD 200.7 million*, down 12% YoY and up 2% QoQ CMOS Microsystems & Photonics Wide bandgap Bookings › Revenue in X-FAB’s key end markets down 13% YoY* and up 3% QoQ*, with a 94% share of total revenue* 250 › Bookings
Slide 36: Quarterly overview
Quarterly overview in millions of USD, growth vs. growth vs. Q3 2026 Q3 2025 Q2 2026 except otherwise stated Q3 2025 Q2 2026 Revenue1 194.4 228.6 199.8 -15% -3% Gross profit 31.6 48.3 30.5 -34% 4% % margin 16.3% 21.1% 15.3% EBIT 4.3 23.8 2.1 -82% 107% % margin 2.2% 10.4% 1.0% Net financial result -6
Slide 37: Quarterly revenue by market segment and technology
Quarterly revenue by market segment and technology Q3 y-o-y in millions of USD Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 growth by market segment 128.6 135.4 143.4 146.9 132.6 121.6 116.0 119.1 -19% Automotive Industrial 36.1 39.3 47.2 47.6 50.5 52.0 45.2 49.6 4% Medical 16.5 1
Slide 38: Business portfolio
Business portfolio Business mix Q3 2026 Positioned for diversified growth › High share of core business with long lifecycles and Automotive higher value-add 59% › Core business CAGR 2020-2025 • Automotive: 19% Industrial • Industrial: 14% 25% • Medical: 16% CCC Medical 6% 10% › Continued focus on te
Slide 39: Prototyping revenue development
Prototyping revenue development Prototyping revenue per quarter 30 Prototyping revenue* Moving 4Q average › Q3 prototyping revenue at USD 16.3 million, 25 down 17% YoY and 8% QoQ 20 › Milestone-based billing in Microsystems and Wide Bandgap drives quarterly fluctuations* in $m 15 › Positive underlyi
Slide 40: Natural hedging of the business
Natural hedging of the business Revenue by currency Costs by currency (full year 2025) › Euro share of sales in Q3 2026 at 43% › No FX impact on EBITDA thanks to natural hedging of the business 1,000 MYR SGD 900 1% 56% 8% 800 57% 59% 700 58% 600 63% in $m 500 56% EUR 400 68% 37% USD 9-month period 4
Slide 41: Cash position
Cash position Net debt development Solid cash position in millions of USD 30 Sep 2026 30 Sep 2025 30 Jun 2026 › Solid cash position complemented by credit lines › Capex overview: Cash & cash equivalents 196.0 174.2 163.6 • Q3 2026 at USD 31.8 million • FY 2026 projected around USD 100 million (net o
Slide 42: Capex
Capex Capex evolution Capex 2023-2025 600 USD 1.1 bn* › Capex ratio in 2026 and onwards at 10-15% of 500 revenue, of which 400 • maintenance capex: 5% in m$ • capability capex: up to 10% 300 › Additional capex funding possible via Chips Act and customer prepayment 200 100 0 2017 2018 2019 2020 2021
Slide 43: Capex coverage by EBITDA
Capex coverage by EBITDA EBITDA Capex Delta 100 50 0 in m$ -50 -100 -150 -200 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 43
Slide 44: Financial liabilities
Financial liabilities Net debt LTA* prepayments Net debt/EBITDA 800 2.5 600 2.0 1.5 400 1.0 in m$ 200 0.5 0 0.0 -200 -0.5 -400 -1.0 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 *Long-term agreements 44
Slide 45: Profitability
Profitability › Q3 2026 EBITDA margin at 19.3%, excluding impact from IFRS 15, Q3 2026 EBITDA margin at 18.6% › Initiated cost-saving program on track Gross profit EBITDA 70 30% 70 40% 60 60 30% 50 50 20% 40 40 in $m in $m 20% 30 30 10% 20 20 10% 10 10 0 0% 0 0% Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q
Slide 46: Strong growth and higher profitability
Strong growth and higher profitability Greater resilience during down cycles 1,000 30% › Significant EBITDA margin improvement in downturn periods: 25% 800 23% 20% 600 in $m 2025 15% 400 vs. 10% 200 5% 6% 2019 0 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Revenue EBITDA EBITDA margin 46
Slide 47: Outlook
Outlook Bookings & backlog Guidance › Q3 bookings up 38% year-on-year reaching highest level in two years › Q4 2026 revenue in the range of USD 205-215 million 600 › Q4 2026 EBITDA margin in the range of 19-22% › Based on an average exchange rate of 1.14 USD/EUR 500 and not taking into account the i
Slide 48: Appendix
Appendix Further financial numbers and business information 48
Slide 49: Financial key figures 2020-2025
Financial key figures 2020-2025 in millions of USD, CAGR 2020 2021 2022 2023 2024 2025 except otherwise stated 2020-2025 Revenue 477.6 657.8 739.5 906.8 816.4 870.3 13% % growth -5.7% 37.7% 12.4% 22.6% -10.0% 6.6% Gross profit 43.7 150.0 176.0 258.1 182.9 184.4 33% % margin 9.2% 22.8% 23.8% 28.5% 22
Slide 50: Annual revenue by market segment and technology
Annual revenue by market segment and technology CAGR in millions of USD 2020 2021 2022 2023 2024 2025 Growth 2020-2025 by market segment Automotive 236.0 331.7 389.3 539.1 552.5 558.3 1% 19% Industrial 97.1 145.6 172.9 206.2 154.6 184.7 19% 14% Medical 33.5 47.9 55.8 67.3 56.4 71.3 26% 16% Subtotal
Slide 51: X-FAB shareholder structure
X-FAB shareholder structure 25.0 38.7 Elex NV Sensinnovat BV Sarawak Technology Holdings Sdn. Bhd. Public 24.9 11.4 51