Report
Stephane Houri

Siltronic AG : Two scenarios for 2020 guidance depending on COVID-19 – Consensus probably too high - Reduce rating reiterated.

>Q4 2019 in line with preliminary results, EPS slightly above forecast - This morning, Siltronic released its final Q4 2019 earnings, which were mostly in line with its preliminary results (released on 29 January 2020). As a reminder, Q4 2019 sales were € 304m, above the ‘Vara Research’ consensus of € 288m, up 1.4% q-o-q and down 21.7% y-o-y. They were better than expected because the group initially said that the Q4 2019 sales would be ‘significantly below Q3’, which...
Underlying
Siltronic AG

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.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Stephane Houri

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