In the second quarter of 2017, Wacker Chemie AG was able to increase its turnover. Sales for the period reached €1.21 billion ($1.41 billion). This is up 2% from the same period a year earlier. The company said that this slight increase in revenue was the result of higher sales for silicone and polymer products.
Ebitda for the quarter was €253.4 million, down 4% from the second quarter of last year. The company, however, has raised its Ebitda forecast for this year and said it now expects a result between €900 million and €935 million, which corresponds to the EBITDA of the previous year adjusted for special in-come. Wacker specified it had previously expected adjusted EBITDA to decline by a mid-single-digit percentage.
The polysilicon business of Wacker Chemie achieved a turnover of €246.7 million. It is a 9% decline compared to the previous year and 8% up from the previous quarter. Lower silicon prices were the main reason, the company said, as the volume of sales rose appreciably. The Division's EBITDA reached €71.3 million, a decrease of 8% compared to the same period of the previous year, but slightly higher than in the previous quarter.
“Alongside lower polysilicon prices,” Wacker stated, “the division’s Ebitda was influenced not only by last year’s special income from advance payments retained and damages received from solar-sector customers, but also by cost developments, including the start-up of the Charleston site, and by product-mix effects. Compared with the preceding quarter, the division made up for the decline in polysilicon prices by achieving cost reductions with the help of productivity-enhancing measures and technical improvements.”
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: editors@pv-magazine.com.
1 comment
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.