Munich-based polysilicon producer Wacker Chemie has increased its sales on a YoY and QoQ basis in Q2, as published in its interim quarterly report released yesterday. Higher sales volumes are expected to result in 2016 revenues of 1.39 billion ($1.55 billion).
Wacker reports declining prices for both polysilicon and semiconductor wafers. However, the company was able to offset this with an increased sales volume. Based on this, and higher silicon prices, Wacker forecasts a profit increase of 5% in 2016 on YoY basis.
An EBITA result in Q2 came in at 300 million ($335 million), the company reports. This represents a 9% reduction YoY but a 31% increase on Q1 2016. The YoY revenue decrease was attributed to some take-or-pay polysilicon contracts being terminated in Q2 2015, resulting in payments of 86.7 million ($96.8 million). This year, Wacker recognized only 7 million ($7.8 million) in such one-off payments.
In presenting its Q2 2016 results, Wacker also locked in its full year EBITA forecast. Excluding one-off events such as contract termination payments with PV customers, Wacker expects profits to come in around 5% to 10% higher than in 2015. Based on 2016 results to date, Wacker expects its earnings to come in at the top end of this range. 2016 revenues are projected to increase YoY by a low single digit percentage.
Year-to-date highlights for Wacker include the opening of a new polysilicon facility in Tennesee. Construction of the U.S. facility was completed in Q2, and commissioning took place, as scheduled, during April and June.
Wacker's polysilicon division achieved revenues of 272.2 million ($304 millioin) in Q2, up around 4% YoY. Sales volume on a QoQ basis resulted in a slight decline, as it was limited by available inventory. The polysilicon division returned an EBITA result of 77 million ($86 million) in Q2, doubling that of the previous quarter. This increase, Wacker said, was due to costs incurred during the startup of the Tennessee facility.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.
Wacker reports declining prices for both polysilicon and semiconductor wafers. However, the company was able to offset this with an increased sales volume. Based on this, and higher silicon prices,
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.