WACKER group sales rise 12% in Q3

19 Nov '07

2 min read

Wacker Chemie AG is heading for another record year in 2007. In Q3, the Munich-based chemical group again significantly boosted year-on-year sales and earnings. Continued strong demand for many WACKER products, coupled with markedly higher production quantities, are the main drivers behind Q3's strong performance.

Volume gains and increased prices for some key product groups more than offset higher raw-material costs and negative currency effects from the strong euro. Group sales rose 12 percent in Q3 to €958.5 million (Q3 2006: €857.3m).

Walker's earnings once again grew more strongly than sales, primarily thanks to substantial volume gains and higher prices achieved in some market segments. From July to September 2007, the Group generated earnings before interest, tax, depreciation and amortization (EBITDA) of €269.9 million (Q3 2006: €217.9 m), up 24 percent compared to the prior-year period. The EBITDA margin rose to 28.2 percent (Q3 2006: 25.4 percent).

WACKER POLYSILICON posted the Group's strongest earnings growth in Q3 2007. The division's EBITDA exceeded the prior-year figure by 53 percent. Siltronic and WACKER SILICONES also improved their EBITDA by 17 percent and 8 percent, respectively. WACKER POLYMERS and WACKER FINE CHEMICALS, however, only marginally improved their year-on-year figures.

The Group's third-quarter earnings before interest and tax (EBIT) rose 34 percent to €186.8 million (Q3 2006: €139.5m), with net income climbing to €120.6 million (Q3 2006: €95.1m). Earnings per share in Q3 amounted to €2.43 (Q3 2006: €1.91). The Munich-based chemical group confirmed its positive full-year 2007 sales and earnings forecast with further precision: WACKER now expects year-on-year sales growth of 14 percent and an EBITDA margin of some 26 percent in 2007.

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Wacker Chemie AG

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