(New: share price, analyst dz bank)
Munich (dpa-AfX)-The chip supplier Siltronic looks more careful about sales development 2025 due to the lack of a clear demand. “The recognizable growth in the final markets has so far not been reflected in the normalization of the inventory at the chip manufacturers,” said Siltronic boss Michael Heckmeier on Tuesday. Therefore, customers are still reluctant to order silicon-wafers from which they manufacture chips. In addition, the devaluation of the US dollar is burdening the euro. The fact that it was still better in the second quarter than expected analysts did not help on the stock exchange. The share price came under pressure in the course of the trade.
The company’s share certificates, in which Wacker chemistry is involved, initially increased to a good 47 euros on Tuesday morning, but then turned into the minus. In the afternoon, around eight percent recently went down to 40.74 euros. The only a few weeks of recreational trend from the low since 2016 still has existed, but is slowly wobbling.
Siltronic boss Heckmeier now expects sales in the middle single-digit percentage area below that of the previous year after he had previously expected revenue at the 2024 level of 1.4 billion euros. As a profit before interest, taxes and depreciation (EBITDA), 21 to 25 percent should continue to get stuck.
For the third quarter, Siltronic expects sales below the level of the previous quarter. This development is mainly due to shifts of delivery quantities within 2025, which were mainly shifted to the fourth quarter.
In a conference call, however, analysts pointed out that Siltronic had often given hope for improvement in later quarters in the recent past. Heckmeier said that customer talks with a view to his expectations, especially for the final quarter, voted him confidently, but the overall perspectives were still difficult to assess.
For Dirk Schlamp from DZ Bank, Siltronic convinced in the second quarter with surgical discipline and a significantly better result than expected, but a sustainable demand to be accumulation is still long in coming – despite positive impulses in partial markets such as server and PC. The inventory for customers, especially in the memory and power segment, remained high and slowed down volume development. Price pressure continues to show and especially in the 200 mm segment.
In the past second quarter, sales fell by a good six percent compared to the previous year’s section to 329 million euros. The increase in the deposed wafer area did not fully compensate for the exchange rate and to a smaller price-related sales declines, it said. The operational profit (EBITDA) fell by almost five percent to 86.4 million euros, which corresponds to a margin of 26.3 percent. This means that the company cuts off better than expected from analysts. The bottom line was that Siltronic earned 14.6 million euros after 22.4 million a year ago.
For analyst Constantin Hesse from the investment house Jefferies, ground formation is also emerging in the course of business. The customs agreement between the USA and the European Union raises some questions with a view to the consequences for the demand for silicon-wafern, but this could be achieved here in the third quarter./Mis/nas/HE
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