Siltronic AG : Murky outlook for H1 due to lower shipments but market environment should recover as of H2
>Profit warning on 2019e due to lower wafer shipments expected in H1 - Siltronic AG (WAF) warned on its 2019e results, providing financial guidance that missed our/market expectations. The downgraded expectations come mainly on the back of significantly lower expected wafer shipments in H1 2019 offset by slightly higher wafer prices. FY 2019e sales are guided roughly flat vs 2018e (€ 1.457bn) compared with 7.5% y-o-y growth expected by the market (Oddo BHF: +7.1%...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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