March 9, 2020 / 6:08 AM / a month ago

BRIEF-Germany’s Siltronic Proposes €3.00 Dividend, Warns Of Coronavirus Impact

March 9 (Reuters) - Siltronic AG:

* FEW CONCRETE SIGNS OF A SUSTAINED IMPROVEMENT IN DEMAND

* BEGINNING OF YEAR CONTINUES TO BE MARKED BY POLITICAL AND MACROECONOMIC UNCERTAINTIES AND, ADDITIONALLY, BY OUTBREAK OF CORONA VIRUS

* RECENT SPREAD OF VIRUS IS HAVING A SIGNIFICANT IMPACT ON ABILITY TO MAKE A FORECAST

* IF EFFECTS OF CORONA VIRUS INTENSIFY, ECONOMIC ENVIRONMENT WILL DETERIORATE SIGNIFICANTLY

* IF THERE ARE NO MAJOR EFFECTS DUE TO CORONA, COMPANY WOULD EXPECT A SLIGHT INCREASE IN SALES VOLUMES WITH DECLINING AVERAGE SELLING PRICES

* EBITDA MARGIN WOULD THEN BE SLIGHTLY BELOW PREVIOUS YEAR, EBIT WOULD BE SIGNIFICANTLY LOWER THAN IN PREVIOUS YEAR DUE TO HIGHER SCHEDULED DEPRECIATION

* IF COVID-19 CONTINUES TO SPREAD, SALES VOLUMES COULD BE LOWER THAN IN PREVIOUS YEAR

* IT IS EXPECTED THAT SILTRONIC’S EBITDA MARGIN, EBIT AND NET CASH FLOW IN 2020 WOULD THEN BE SIGNIFICANTLY LOWER THAN IN PREVIOUS YEAR

* FOR 2020, SILTRONIC PLANS TO INVEST AROUND EUR 200 MILLION Source text for Eikon: (Berlin Speed Desk)

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