(Reuters) - German semiconductor materials supplier Siltronic reported a 7% drop in its preliminary annual sales on Tuesday, citing high inventory levels amid a delay in demand recovery.
The company, which makes silicon wafers used in semiconductor chips, posted 2024 revenue of 1.41 billion euros ($1.45 billion), down from 1.51 billion euros a year earlier. However, this figure aligned with analysts' expectations of 1.40 billion euros, based on a poll by Vara Research.
Its earnings before interest tax, depreciation and amortisation (EBITDA) came in at 364 million euros for the same period, down from 434 million euros last year.