X Fab Silicon Foundries EV FIRST LOOK : 2Q24 is to mark the bottom of the current slowdown
1Q24 below our and CSS forecasts and we and CSS will have to lower our 2Q24 forecast ($ 231.3m and $ 227.9m respectively) as X-Fab indicated this is expected to come in within a range of $ 200-210m with an EBITDA-margin in the range of 20-23% (KBCSe 26.1%, CSS 26.2%). Positive on the other hand is that FY24 guidance was reiterated.X Fab Silicon Foundries EV is a Belgium-based company primarily engaged in the semiconductors industry. The Company focuses on the design and manufacture of silicon wafers for mixed-signal integrated circuits (ICs). Its products are integrated with additional features, such as high voltage option, embedded non-volatile memory, optical, radio frequency (RF) and bipolar elements, as well as microelectromechanical sensors. The Company distributes silicon wafers for various applications, including automotive, industrial, medical, as well as consumer electronics and mobile communications sector. The Company operates in a number of countries, such as Germany, France, Malaysia and the United States.
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