MUNICH (dpa-AFX) - The wafer manufacturer Siltronic is becoming more pessimistic for the current year due to a continuing weakness in demand. The company expects a further delay in the market recovery, as customers are reducing their high inventories more slowly than hoped. Siltronic therefore expects a decline in sales of around ten percent for 2024, as the company announced in Munich on Friday. The margin before interest, taxes, depreciation and amortization (EBITDA) is expected to fall to between 21 and 25 percent. Previously, Siltronic had forecast sales and an EBITDA margin in the order of magnitude of the previous year, whereby the margin could be additionally burdened by up to three percentage points due to the start-up costs of a new factory. The EBITDA margin was 28.7 percent in 2023.

The share price fell significantly in response to the lowered forecast. The wafer manufacturer's shares fell by almost eleven percent to 68.50 euros - the lowest level since July 2023./nas/stk