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Nov 30 (Reuters) - Siltronic (WAFGn.DE) expects sales and profitability to grow significantly in the next five years thanks to megatrends such as artificial intelligence, digitalization, and electromobility, the company said in a strategy update on Thursday.

The megatrends "will lead to a strong increase in demand for semiconductors and therefore also for wafers," the company, which provides silicon wafers to the semiconductor industry, said in a statement.

The German chip equipment maker now expects sales to exceed 2.2 billion euros ($2.41 billion), and earnings before interest, taxes, depreciation, and amortization (EBITDA) margin to reach the high 30-percentage area by 2028.

Compared to this year's sales guidance, the forecast would correspond to an increase of more than 40% in revenue.

However, the company sees sales to be burdened by high inventory levels on customers' side in the first half of 2024.

($1 = 0.9113 euros)

Reporting by Andrey Sychev, Editing by Linda Pasquini

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Siltronic sees sales boost from AI and electromobility in next five years - Reuters