Siltronic experiences a 27.5% drop in Q1 core profit due to high client inventories and weak demand.

Siltronic, a German chip equipment supplier, reported a 27.5% drop in its first-quarter core profit due to high client inventories. The company's Q1 EBITDA fell to €90.8M from €125.2M a year earlier, and sales dropped 15% to €343.5M. CEO Michael Heckmeier noted that weak demand and elevated customer inventories remain an issue, and 2024 may be a transition year for the company.