Siltronic AG : Solid Q2 2021, massive new investment project in Singapore but TP capped at present at the offer price – Neutral opinion reiterated
>Q2 2021 slightly above forecasts, 2021 guidance maintained - Siltronic reported Q2 2021 results slightly ahead of expectations yesterday. Sales grew by 7.9% yoy and 5.6% qoq to € 341.1m, above the consensus estimate of € 323.1m. EBITDA was € 108m and the margin 31.7% vs the cons. of € 100.4m and 31.1% respectively. Operating profit came to € 69.6m, representing an operating margin of 20.4% vs the cons. of € 66.9m and 20.7% respectively, and EPS to € 1.83 vs the cons....Siltronic AG is a Germany-based producer of hyperpure silicon wafers. The Company offers polished wafers, epitaxial wafers and annealed wafers, among others. Its products are used for semiconductor components, including high-voltage applications, low resistivity devices in automotive engineering and telecommunications, as well as integrated microprocessors and memory modules for information processing in cell phones, laptops and other consumer goods. The Company also produces high reflectivity (HiREF) wafers, as well as PowerFZ wafers for power applications and Ultimate Silicon for complementary metal-oxide semiconductor (CMOS) applications. It operates production facilities in Europe, Asia and the United States.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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