MUNICH (dpa-AFX) - Semiconductor wafer manufacturer Siltronic remains cautious about the rest of the year following business losses at the start of the year due to weakness in the chip markets. Due to destocking by chipmakers and their customers, the market weakness is likely to persist for the next few quarters, the MDax group announced in Munich on Thursday. An upturn in the second half of the year is currently not expected. When it comes to the outlook, Wacker Chemie 's shareholding therefore remains vague: sales and operating profit margin before interest, taxes, depreciation and amortization (Ebitda) are likely to be significantly below 2022 levels, it said again.

Sales fell by around 3 percent year-on-year in the first quarter to just over 404 million euros. Compared with the final quarter of 2022, the decline amounted to a good 14 percent and was thus roughly at the level forecast by the company. Operating profit was a good 125 million euros, significantly lower than a year ago and in the previous quarter. The operating profit margin thus amounted to 31 percent. Sales and profit were thus just at the level of analysts' estimates. Below the line, Siltronic earned 72.5 million euros, which was also significantly less than in the comparable periods./mis/zb