MUNICH (dpa-AFX) - Siltronic has felt the effects of weak demand from the semiconductor industry in 2023. The Wacker Chemie subsidiary's sales and operating result fell significantly, but reached the company's targets and roughly matched analysts' estimates. Sales fell by 16 percent year-on-year to around EUR 1.5 billion in 2023, as the manufacturer of silicon wafers announced on Thursday on the basis of preliminary figures. Earnings before interest, taxes, depreciation and amortization (EBITDA) remained at 29 percent. This corresponds to 434 million euros after just under 672 million a year earlier.

In 2023, the chip industry suffered from consumers' and companies' reluctance to buy smartphones, computers and other electronics. In addition, many chip manufacturers and their customers had replenished their stocks with whatever they could get in times of supply chain problems during the coronavirus pandemic. They continued to reduce these stocks for the time being, so new orders were low./mis/jha/