Siltronic expects lower 2023 earnings, shares on track for worst day in almost 3 years

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Siltronic sees a more difficult 2023 as lower volumes as well as exchange rate effects and inflation are set to impact the German chip equipment supplier, it said on Friday.Siltronic is assuming sales, its earnings before interests, taxes, depreciation and amortization (EBITDA) margin and earnings before

Siltronic sees a more difficult 2023 as lower volumes as well as exchange rate effects and inflation are set to impact the German chip equipment supplier, it said on Friday.

Siltronic is assuming sales, its earnings before interests, taxes, depreciation and amortization margin and earnings before interests and taxes will be significantly lower in 2023. For the first quarter of the year, the Munich-based firm expects a 15 per cent drop in sales compared to the levels observed in the last quarter of 2022, as well as an EBITDA margin between 30 per cent and 33 per cent.

The Bavarian company cited expected inventory adjustments as well as short-term postponement of delivery volumes of some customers in the first half of 2023 as impacting the first quarter. Siltronic shares slumped 10 per cent following the announcement and are on track for their worst day in almost three years.

 

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