Home / Knowledge / News / Textiles / Chemicals sales improve at Wacker during Q3FY18

Chemicals sales improve at Wacker during Q3FY18

26
Oct '18
Courtesy: Wacker Chemie AG
Courtesy: Wacker Chemie AG
In third quarter of fiscal 2018, the chemical sales at Wacker Chemie rose 11 per cent y-o-y. The Munich-based chemical company posted overall sales of €1,242.7 million during the reported quarter. The decrease was not fully offset by chemical business, which achieved better prices, positive product-mix effects and higher silicone volumes for specialties.

Sales at Wacker Polymers totaled €338.8 million in the reporting quarter, 7 per cent higher than a year ago. The increase stemmed from volume growth and better prices. Relative to the preceding quarter, sales were down 1 per cent. This slight decline was mainly due to somewhat lower volumes amid seasonally weaker demand. EBITDA amounted to €46.9 million in the third quarter. This 18 percent decline stemmed mainly from substantially higher raw-material costs. To counter this development, the division is raising the prices of its products.

In the third quarter of fiscal 2018, Wacker Silicones generated total sales of €634.9 million, an increase of 14 per cent from last year. That growth was driven not only by better prices, but also by higher volumes for specialties and, thus, an enhanced product mix. Compared with a quarter ago, sales were down 3 per cent, partly due to seasonal factors. The division’s EBITDA reached €173.4 million in the reporting quarter, 36 per cent higher than last year. Relative to a quarter ago, EBITDA fell 2 per cent amid slower sales.

"Our performance in Q3 reflected different trends. On the one hand, our chemical divisions delivered strong overall growth, increasing their total sales and EBITDA year over year. Wacker Polysilicon, on the other hand, experienced far more difficult market conditions. Overall, WAacker’s prospects remain positive for this year and beyond. Our chemical business is developing strongly and photovoltaics, despite the market’s temporary weakness, is as promising as ever – not least because of the global climate-policy challenges. As a result, we continue to expect full-year Group sales and EBITDA to grow in 2018," said CEO Rudolf Staudigl.

During the reported quarter, Wacker continued expanding its sales in every region except for Asia. Sales in Asia declined 24 per cent to €407.8 million due to lower polysilicon volumes. Sales in Europe reached €542.4 million, up 6 per cent versus last year’s €511.5 million. In the Americas, sales climbed to €232.0 million, an increase of 12 per cent.

The company has confirmed its expectations that both sales and EBITDA will grow y-o-y. Amid robust customer demand and better prices, Wacker Silicones has anticipated lifting its full-year EBITDA somewhat higher than projected in the interim report for Q2 2018. Its EBITDA will probably be slightly over €600 million. The projections for the division’s full-year sales will remain in the region of €2.5 billion. Wacker Polymers expects full-year sales to rise by a mid-single-digit percentage, with EBITDA at around €150 million. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Sri Lanka's EDB concerned over EU resolution to withdraw GSP+

Sri Lanka's Export Development Board is concerned over the resolution ...

Pic: Shutterstock

Textiles | On 14th Jun 2021

Pakistan govt proposes tax relief in budget to boost industrial growth

Pakistan's latest budget aims to reduce the input cost of many...

Pic: Shutterstock

Apparel/Garments | On 14th Jun 2021

Prime Content| Vietnam’s apparel exports expected to rise in 2021: TexPro

Apparel exports of Vietnam are expected to increase from $14.96...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Mumin Can Eker,

Mumin Can Eker

Maseksport Inc is a readymade garment exporter. Founded in Izmir in 1989,...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Amanda Cioletti,

Amanda Cioletti

The entertainment/character segment lead as the largest sector for the...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search