Home / Knowledge / News / Textiles / Wacker net income totals to €84 million in Q2FY18
Wacker net income totals to €84 million in Q2FY18
27
Jul '18
Courtesy: Wacker Chemie AG
Courtesy: Wacker Chemie AG
The net income of Wacker Chemie in Q2 of fiscal 2018 has totaled to €83.5 million as compared to €60.5 million in Q2 of 2017. Sales was posted at €1,329.9 million as against €1,218.3 million in 2017. The rise was with better prices, especially for silicone products, by volume growth for chemical products and by positive effects from the chemical-product mix.

In the reported period, Wacker continued growing its sales in every region. The biggest increase was in Asia, where sales rose 13 per cent to €495.7 million (Q2 2017: €440.3 million). Sales in Europe reached €543.2 million, up 7 per cent over last year’s figure of €506.0 million. In the Americas, sales reached €223.7 million (Q2 2017: €214.2 million), an increase of 4 per cent.

Wacker generated EBITDA of €260.5 million in the second quarter of 2018. That was 3 per cent more than a year ago (€253.4 million) and 2 per cent more than a quarter ago (€254.5 million). Growth drivers were better prices for chemical products and higher income from the stake in Siltronic. The group’s EBITDA margin for the reported period was 19.6 per cent against 20.8 per cent in the corresponding quarter of previous year.

"After the first six months of the year, we are firmly on track to achieve our full-year targets," said Group CEO Rudolf Staudigl. "Our chemical portfolio is currently performing very well and customer demand for silicones, in particular, is very high. In this market environment, we are posting volume growth with specialty products and achieving substantial price increases for standard silicones."

"The intensifying trade dispute between the US and both China and the EU poses a significant risk to the global economy. In addition, markedly higher raw-material costs reduce our earnings. On the other hand, our chemical business is performing considerably better than anticipated at the start of the year. The first six months have delivered a good basis for Wacker’s development in the current year. Provided there is no economic downturn, we could outperform our current full-year earnings forecast," explained Staudigl

The Munich-based chemical company continues to expect that group sales will grow by a low-single-digit percentage relative to last year (€4,924.2 million). EBITDA is likely to rise by a mid-single-digit percentage compared with last year (€1,014.1 million). The net income from continuing operations is likely to rise markedly. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Bangladesh imported 46% of cotton requirement from India

Textiles | On 21st Aug 2018

Bangladesh imported 46% of cotton requirement from India

Bangladesh imported 46 per cent of its requirement of cotton from...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


August 2018

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

news category


Related Categories:

Advanced Search