Mersen delays targets by two years on weak materials demand for EVs

Reuters12-05

UPDATE 1-<a href="https://laohu8.com/S/CBLNF">Mersen</a> delays targets by two years on weak materials demand for EVs

Adds quote in paragraph 3, background in paragraphs 4-5, shares paragraph 6

Dec 5 (Reuters) - Mersen CBLP.PA pushed back its financial targets until 2029 on Thursday, estimating a three year delay in the electric vehicle and silicon carbide (SiC) semiconductor markets.

The French advanced materials supplier expects to reach sales of around 1.7 billion euros ($1.8 billion) and an operating margin before non-recurring items of around 12% two years later than originally planned, it said in a press release ahead of its Capital Markets Day.

"2025 will be a year of transition for Mersen due to a temporary slowdown in the electric vehicle and SiC semiconductor markets," the company said in the statement.

Many chipmakers exposed to silicon carbide, a more efficient semiconductor material used to increase the range of EVs, have cut or delayed their financial targets.

Wolfspeed WOLF.N, STMicroelectronics STMPA.PA and Infineon IFXGn.DE, which are among the world's largest silicon carbide chipmakers, have recently warned of a subdued 2025.

Mersen's shares rose 2.7% to 20.1 euros by 0822 GMT.

($1 = 0.9499 euros)

(Reporting by Nathan Vifflin in Gdansk Editing by Milla Nissi)

((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2489810734?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-05 16:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2489810734","market":"us","top_or_hot":-1,"title":"Mersen delays targets by two years on weak materials demand for EVs","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>UPDATE 1-<a href=\"https://laohu8.com/S/CBLNF\">Mersen</a> delays targets by two years on weak materials demand for EVs</title></head><body><p>Adds quote in paragraph 3, background in paragraphs 4-5, shares paragraph 6</p><p>\n<span>Dec 5 (Reuters)</span><span> - </span><a href=\"https://laohu8.com/S/CBLNY\">Mersen</a> <span>CBLP.PA</span> pushed back its financial targets until 2029 on Thursday, estimating a three year delay in the electric vehicle and silicon carbide (SiC) semiconductor markets.</p><p>The French advanced materials supplier expects to reach sales of around 1.7 billion euros ($1.8 billion) and an operating margin before non-recurring items of around 12% two years later than originally planned, it said in a press release ahead of its Capital Markets Day.</p><p>\"2025 will be a year of transition for Mersen due to a temporary slowdown in the electric vehicle and SiC semiconductor markets,\" the company said in the statement.</p><p>Many chipmakers exposed to silicon carbide, a more efficient semiconductor material used to increase the range of EVs, have cut or delayed their financial targets.</p><p><span>Wolfspeed</span> <span>WOLF.N</span>, <span>STMicroelectronics</span> <span>STMPA.PA</span> and <span>Infineon</span> <span>IFXGn.DE</span>, which are among the world's largest silicon carbide chipmakers, have recently warned of a subdued 2025.</p><p>Mersen's shares rose 2.7% to 20.1 euros by 0822 GMT.</p><p>($1 = 0.9499 euros)</p><p> (Reporting by Nathan Vifflin in Gdansk Editing by Milla Nissi)</p><p> ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mersen delays targets by two years on weak materials demand for EVs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMersen delays targets by two years on weak materials demand for EVs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-05 16:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241205:nL5N3N60AY:1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>UPDATE 1-Mersen delays targets by two years on weak materials demand for EVsAdds quote in paragraph 3, background in paragraphs 4-5, shares paragraph 6\nDec 5 (Reuters) - Mersen CBLP.PA pushed back its...</p>\n\n<a href=\"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241205:nL5N3N60AY:1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B19Z9P08.USD","symbol_name":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241205:nL5N3N60AY:1","article_id":"2489810734","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2489810734","pubTimestamp":1733387655,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"UPDATE 1-Mersen delays targets by two years on weak materials demand for EVsAdds quote in paragraph 3, background in paragraphs 4-5, shares paragraph 6. Dec 5  - Mersen CBLP.PA pushed back its financial targets until 2029 on Thursday, estimating a three year delay in the electric vehicle and silicon carbide  semiconductor markets.The French advanced materials supplier expects to reach sales of around 1.7 billion euros  and an operating margin before non-recurring items of around 12% two years later than originally planned, it said in a press release ahead of its Capital Markets Day.\"2025 will be a year of transition for Mersen due to a temporary slowdown in the electric vehicle and SiC semiconductor markets,\" the company said in the statement.Many chipmakers exposed to silicon carbide, a more efficient semiconductor material used to increase the range of EVs, have cut or delayed their financial targets.Wolfspeed WOLF.N, STMicroelectronics STMPA.PA and Infineon IFXGn.DE, which are among","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B19Z9P08.USD":"LEGG MASON CLEARBRIDGE US AGGRESSIVE GROWTH \"A\" (USD) INC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4585":"ETF&股票定投概念","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","IE00BMPRXR70.SGD":"Neuberger Berman 5G Connectivity A Acc SGD-H","BK4141":"半导体产品","LU0056508442.USD":"贝莱德世界科技基金A2","BK4588":"碎股","IE00B894F039.SGD":"Legg Mason ClearBridge - US Aggressive Growth A Acc SGD-H","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","WOLF":"Wolfspeed Inc."},"translate_title":"由于电动汽车材料需求疲软，默森将目标推迟两年","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WOLF":0.9},"content_text":"UPDATE 1-Mersen delays targets by two years on weak materials demand for EVsAdds quote in paragraph 3, background in paragraphs 4-5, shares paragraph 6\nDec 5 (Reuters) - Mersen CBLP.PA pushed back its financial targets until 2029 on Thursday, estimating a three year delay in the electric vehicle and silicon carbide (SiC) semiconductor markets.The French advanced materials supplier expects to reach sales of around 1.7 billion euros ($1.8 billion) and an operating margin before non-recurring items of around 12% two years later than originally planned, it said in a press release ahead of its Capital Markets Day.\"2025 will be a year of transition for Mersen due to a temporary slowdown in the electric vehicle and SiC semiconductor markets,\" the company said in the statement.Many chipmakers exposed to silicon carbide, a more efficient semiconductor material used to increase the range of EVs, have cut or delayed their financial targets.Wolfspeed WOLF.N, STMicroelectronics STMPA.PA and Infineon IFXGn.DE, which are among the world's largest silicon carbide chipmakers, have recently warned of a subdued 2025.Mersen's shares rose 2.7% to 20.1 euros by 0822 GMT.($1 = 0.9499 euros) (Reporting by Nathan Vifflin in Gdansk Editing by Milla Nissi) ((nathan.vifflin@thomsonreuters.com; +48 58 769 67 13;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2489810734"}