April 10, 2019 / 1:02 PM / a month ago

Siltronic warns of significant decline in 2019 profit

FRANKFURT, April 10 (Reuters) - Siltronic, a German maker of silicon wafers used in semiconductor chips, said operating profit would drop significantly this year, sending shares down 8.5 pct on Wednesday.

Earnings before interest and tax (EBIT) in 2019 would be significantly below the previous year’s level, Siltronic said in a statement.

The company had previously predicted a decline of slightly more than 10 percent.

“The Executive Board expects that the wafer area sold in 2019 will be significantly lower than in 2018,” it said, adding that second-quarter results would be significantly weaker than the first quarter. (Reporting by Ludwig Burger Editing by Tassilo Hummel )

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