2016 sales at speciality chemicals maker Wacker Chemie up 2%

03 Feb '17

1 min read

According to preliminary figures and following a good fourth quarter, total sales at German producer of speciality chemicals Wacker Chemie, rose 2 per cent year on year to €5.4 billion in 2016. The 2 per cent increase in sales was primarily attributed to higher volumes, with each of the Wacker Chemie divisions, too posting sales growth in 2016.

EBITDA for the reporting year also expanded at €1.10 billion, up 5 per cent over €1.05 billion that the company reported in 2015.

According to the company, the higher EBITDA was achieved despite substantially lower special income from advance payments retained and damages received from solar-sector customers, which amounted to around €20 million in 2016 as against €138 million in 2015.

However, EBIT for 2016 came in at €365 million in 2016, down a steep 23 per cent from a year ago period, primarily due to the substantial increase in depreciation.

In 2016, the German chemicals producer reported net income of around €190 million, also down from €242 million in 2015. (AR)

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