(Reuters) – 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 interests and taxes (EBIT) will be significantly lower in 2023.
For the first quarter of the year, the Munich-based firm expects a 15% drop in sales compared to the levels observed in the last quarter of 2022, as well as an EBITDA margin between 30% and 33%.
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% following the announcement and are on track for their worst day in almost three years.
(Reporting by Tristan Chabba in Gdansk; Editing by Paul Carrel and Miranda Murray)
