DGAP-News

Wacker Chemie AG: WACKER EXPECTS FURTHER GROWTH

DGAP-News: Wacker Chemie AG / Key word(s): Final Results
Wacker Chemie AG: WACKER EXPECTS FURTHER GROWTH

17.03.2015 / 07:14

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- 2014 SALES OF EUR4.83 BILLION REPRESENT A YEAR-ON-YEAR RISE OF SOME 8
PERCENT, WITH EBITDA INCREASING 54 PERCENT TO EUR1.04 BILLION

- GROUP SALES FOR FULL-YEAR 2015 TO RISE IN THE HIGH-SINGLE-DIGIT
PERCENTAGE RANGE

- HIGHER VOLUMES AND SALES ANTICIPATED ACROSS ALL BUSINESS DIVISIONS

- ADJUSTED FOR SPECIAL INCOME, GROUP EBITDA PROJECTED TO RISE SLIGHTLY,
WITH GROUP NET INCOME EXPECTED TO BE DOWN ON PRIOR YEAR

- CAPITAL EXPENDITURES IN 2015 WILL BE AROUND EUR700 MILLION, NET CASH
FLOW EXPECTED TO BE SLIGHTLY POSITIVE


Munich, March 17, 2015 - As already announced, Wacker Chemie AG ended
fiscal 2014 with considerable increases in both sales and earnings. As the
Munich-based chemical company announced today on presenting its annual
report, Group sales totaled EUR4.83 billion (2013: EUR4.48 billion), a
year-on-year rise of about 8 percent. This increase was mainly due to
higher volumes across all divisions and improved polysilicon prices.
Earnings before interest, taxes, depreciation and amortization (EBITDA) in
2014 amounted to EUR1,042.3 million (2013: EUR678.8 million) - almost 54
percent more than a year earlier. The EBITDA margin rose significantly,
from 15.2 percent to 21.6 percent.

There are several reasons for this jump in earnings. Last year, WACKER
achieved higher prices overall - primarily for polysilicon, but also in
several chemical-business segments. Productivity programs, measures to curb
specific energy consumption and higher production volumes have reduced
Group costs by around EUR200 million. At Siltronic, the first-time
consolidation of Siltronic Silicon Wafer Pte. Ltd. had a positive effect.
WACKER POLYSILICON terminated or restructured contractual relationships
with a number of solar-industry customers. In this connection, the division
retained advance payments and received damages. That resulted in income of
EUR206.3 million (2013: EUR77.6 million). Adjusted for this effect, Group
EBITDA in 2014 was EUR836.0 million (adjusted 2013: EUR601.1 million),
rising 39 percent and yielding an EBITDA margin of 17.3 percent.

WACKER's earnings before interest and taxes (EBIT) reached EUR443.3 million
in 2014 (2013: EUR114.3 million), thus almost quadrupling year on year.