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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;))
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