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☆ China's SMIC sees lower Q4 gross margin, lifts annual capex forecast
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A logo of Semiconductor Manufacturing International Corporation (SMIC) is seen at China International Semiconductor Expo (IC China 2020) following the coronavirus disease (COVID-19) outbreak in Shanghai, China October 14, 2020. REUTERS/Aly Song/File photo Acquire Licensing RightsNov 9 (Reuters) - Semiconductor Manufacturing International Corp (0981.HK) on Thursday lifted its annual capital expenditure forecast to around $7.5 billion and said it expects lower fourth-quarter gross margins. SMIC expects a gross margin of between 16% and 18% in the fourth quarter, compared with 19.8% in the third quarter. Revenue for the third quarter fell to $1.62 billion from $1.91 billion a year ago, but the company expects a sequential increase of 1% to 3% in the fourth quarter. SMIC had previously said it expects capital expenditure in 2023 to be roughly flat compared with 2022, which came in at about $6.35 billion.

Persons: Aly, TSMC, Germany's, SMIC, Nausheen, Devika Organizations: Semiconductor Manufacturing International Corporation, China International Semiconductor, REUTERS, Semiconductor Manufacturing International Corp, HK, SMIC, Revenue, Thomson Locations: Shanghai, China, Bengaluru

Oct 26(Reuters) - Oct 26 (Reuters) - German chip equipment supplier Siltronic improved its sales outlook on Thursday based on stronger revenue expected in the fourth quarter, forecasting a less severe slump this year than previously feared. The company now expects sales to drop by up to 17% this year, versus a previously forecast fall of up to 19%. The provider of silicon wafers for the semiconductor industry reported a 26% drop in its third-quarter sales to 349 million euros ($368 million). "Siltronic delivered a good Q3 beating consensus estimates across the board despite the continued demand weakness as a result of the inventory correction at semi-manufacturers", says Jefferies' analyst Constantin Hesse. Despite the weakened demand, Q4 sales are expected to be better on a quarterly basis indicating a potential low point in Q3, he added.

Persons: Siltronic, Jefferies, Constantin Hesse, Paolo Laudani, Rachel More, Toby Chopra Organizations: Thomson Locations: Frankfurt, Gdansk

REUTERS/Phil Noble/File Photo Acquire Licensing RightsFRANKFURT/MUNICH, Oct 26 (Reuters) - German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. German customs and the Federal Office for Economic Affairs and Export Control (BAFA) did not immediately respond to a request for comment. Lobby group Asia-Pacific Committee of German Business (APA) told Reuters the BAFA office was appearing to scrutinise export requests more closely or escalate requests to the economy ministry more often. Still, the German chamber of commerce said the political environment was hobbling exports to China.

Persons: Phil Noble, Suess, Friedolin Strack, Burkhardt Frick, Martin Wansleben, Alexander Huebner, Rene Wagner, Christian Kraemer, Thomas Escritt, Anneli, Ludwig Burger, David Holmes Organizations: REUTERS, Federal Office, Economic Affairs, Export Control, Pacific Committee, German Business, Reuters, Thomson Locations: Hamburg, Germany, FRANKFURT, MUNICH, China, Asia, Munich, Berlin, Duesseldorf, Frankfurt

Heckmeier said Siltronic was following the tussle between the United States and China for control of the chip industry and their mutual restrictions. Siltronic's product portfolio includes so-called Gallium Nitride-on-Silicon wafers, which enable high switching frequencies and efficient energy management, while working under high power densities. The Munich-based company reported an 8.7% sales decrease for the second quarter, and guided for 2023 sales to fall 14%-19% from last year's 1.81 billion euros. It now plans to invest 1.3 billion euros this year after previously guiding for investments slightly above last year's 1.07 billion. The new factory is expected to contribute to profit by 2025 the latest.

Persons: Michael Heckmeier, Heckmeier, Siltronic, Ozan Ergenay, Paolo Laudani, Kirsti Knolle, Jane Merriman Organizations: Thomson Locations: Singapore, Frankfurt, United States, China, Beijing, Munich, Gdansk

☆ Taiwan's Foxconn to take 50% stake in ZF axle system unit
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 24 (Reuters) - Taiwan's Foxconn (2317.TW) will acquire a 50% stake in ZF Group's (ZFF.UL) axle system assembly unit, creating a joint venture aimed at growing automotive and supply chain opportunities, the companies said on Monday. The joint venture with Foxconn is part of ZF's strategy to grow specific business areas beyond current limits with external partners' support, the German company's chief executive, Holger Klein, told Reuters. "This business can grow very quickly, but it has relatively low margins. It needs fresh capital," which is why ZF had been looking for a partner, said Klein. The joint venture agreement is expected to become effective within six to nine months of signing pending regulatory approvals.

Persons: Foxconn, Holger Klein, Klein, Alexander Huebner, Friederike Heine, Miranda Murray, Rachel More Organizations: ZF Group's, Foxconn, Reuters, ZF, Thomson Locations: BERLIN, Berlin, Munich, China

☆ Siltronic expects lower 2023 earnings, shares on track for worst day in almost 3 years
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - Siltronic (WAFGn.DE) sees a more difficult 2023 as lower volumes as well as exchange rate effects and inflation are set to impact the German chip equipment supplier, it said on Friday. Siltronic is assuming sales, its earnings before interests, taxes, depreciation and amortization (EBITDA) margin and earnings before interests and taxes (EBIT) will be significantly lower in 2023. The Bavarian company cited expected inventory adjustments as well as short-term postponement of delivery volumes of some customers in the first half of 2023 as impacting the first quarter. Siltronic shares slumped 10% following the announcement and are on track for their worst day in almost three years. Reporting by Tristan Chabba in Gdansk Editing by Paul Carrel and Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

Feb 2 (Reuters) - German chip equipment supplier Siltronic (WAFGn.DE) on Thursday said demand for its wafers was still strong even as it warned a slowdown in end-markets could weigh on 2023 results. The Munich-based supplier of silicon wafers for the semiconductor industry said demand for its products had remained high so far this year, but added some of its customers expected weaker orders in the first half of 2023. German chipmaker Infineon (IFXGn.DE), one of Siltronic's biggest customers, said on Thursday it saw significantly weaker demand in areas such as smartphones, PCs and data centres in the first quarter. The group, which did not provide detailed financial targets for 2023, also said it expected the high inflation to keep pushing up unit costs this year. ($1 = 0.9076 euros)Reporting by Andrey Sychev and Anastasia Kozlova in Gdansk; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

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