German semiconductor materials supplier Siltronic upgraded full-year guidance on Thursday despite reporting first-half sales down 14% owing to weak demand for its products. <\/p>\n
The company, which makes silicon wafers used in semiconductor chips, now expects 2024 sales to decline by a high single-digit percentage, against its previous forecast of a 10% fall. <\/p>\n
Its margin on earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be between 23% and 25%, compared with the previous target of 21-25%. <\/p>\n
“On a positive note, the end markets, partially driven by artificial intelligence (AI), will grow this year,” CEO Michael Heckmeier said in a statement. <\/p>\n
A German trader said the full-year guidance upgrade was not expected but quarterly results exceeded expectations. <\/p>\n
“We see the risk\/reward of the shares positively as the downturn is well advanced and the upturn should materialise going into 2025,” Stifel analyst Juergen Wagner said in a note, adding that second-quarter results were better than feared. <\/p>\n
Second-quarter sales rose 2.3% to 351.3 million euros ($380.81 million). <\/p>\n
Shares in the company were seen up 4.4% in early Frankfurt trade. <\/p>\n
Siltronic had lowered its 2024 guidance this year, saying its clients were reducing inventory levels more slowly than anticipated as demand for consumer electronics wanes.<\/p>\n","protected":false},"excerpt":{"rendered":"
German semiconductor materials supplier Siltronic upgraded full-year guidance on Thursday despite reporting first-half sales down 14% owing to weak demand for its products. The company, which makes silicon wafers used in semiconductor chips, now expects 2024 sales to decline by a high single-digit percentage, against its previous forecast of a 10% fall. Its margin on earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be between 23% and 25%, compared with the previous target of 21-25%. “On a positive note, the end markets, partially driven by artificial intelligence (AI), will grow this year,” CEO Michael Heckmeier said in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-837362","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/837362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=837362"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/837362\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=837362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=837362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=837362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}