Siltronic lowers full-year guidance

(Reuters) -German semiconductor materials supplier Siltronic on Tuesday cut its annual sales guidance, amid continued weakness in its semiconductor business and high customer inventories.

The group said it now expects sales to be in the mid-single-digit percentage range below the previous year, having previously guided towards sales being in the same region as the previous year.

In 2024, the company achieved revenue of 1.41 billion euros ($1.63 billion), which was 7% below the previous year.

"The visible growth in end markets has so far not led to a normalization of inventory levels at chip manufacturers. As a result, there is still no noticeable recovery in demand at Siltronic," CEO Michael Heckmeier said in a statement.

Siltronic confirmed its earnings before interest, taxes, depreciation and amortization margin target of between 21% and 25% for the year.

($1 = 0.8631 euros)

(Reporting by Ozan Ergenay in Gdansk)

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