DGAP-News

Wacker Chemie AG: WACKER ACHIEVES STRONG SALES GROWTH IN Q3 2015 WITH EARNINGS BELOW PREVIOUS YEAR DUE TO LOWER SPECIAL INCOME

DGAP-News: Wacker Chemie AG / Key word(s): Quarter Results
Wacker Chemie AG: WACKER ACHIEVES STRONG SALES GROWTH IN Q3 2015 WITH
EARNINGS BELOW PREVIOUS YEAR DUE TO LOWER SPECIAL INCOME

29.10.2015 / 07:14

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- GROUP SALES FOR Q3 2015 REACH EUR1.36 BILLION, UP 10 PERCENT YEAR OVER
YEAR

- FAVORABLE EXCHANGE-RATE EFFECTS AND HIGHER VOLUMES LIFT SALES TREND

- AT EUR264 MILLION, REPORTING-QUARTER EBITDA DOWN 24 PERCENT ON A YEAR
AGO, PRIMARILY DUE TO LOWER SPECIAL INCOME

- NET INCOME FOR Q3 2015 AMOUNTS TO EUR58 MILLION

- FORECAST CONFIRMED: GROUP SALES FOR FULL-YEAR 2015 ARE EXPECTED TO
INCREASE BY ABOUT 10 PERCENT, WITH EBITDA GROWING MODESTLY WHEN
ADJUSTED FOR SPECIAL INCOME

Munich, October 29, 2015 - In Q3 2015, Wacker Chemie AG achieved
substantial sales growth year over year, especially thanks to higher
volumes and favorable exchange-rate effects. The Munich-based chemical
company posted sales of EUR1,357.9 million between July and September (Q3
2014: EUR1,232.2 million), up a good 10 percent. All divisions generated
year-over-year sales increases in the reporting quarter. Sales were down 1
percent compared with Q2 2015 (EUR1,370.5 million), primarily because of
somewhat lower semiconductor-wafer volumes.

WACKER's earnings before interest, taxes, depreciation and amortization
(EBITDA) in Q3 2015 amounted to EUR264.3 million (Q3 2014: EUR347.5
million), corresponding to an EBITDA margin of 19.5 percent (Q3 2014: 28.2
percent).

The main reason for this strong, almost 24-percent decline in EBITDA was
lower special income from advance payments retained and damages received
from solar-sector customers. Whereas special income came in at EUR92.3
million in Q3 2014, WACKER posted only EUR17.8 million for this item in the
reporting quarter.

Compared with the second quarter (EUR329.0 million), Group EBITDA declined
by just under 20 percent, with lower special income again being a key
factor in this trend. In Q2 2015, WACKER had recognized EUR86.7 million for
advance payments retained and damages received.

WACKER's earnings before interest and taxes (EBIT) amounted to EUR125.5
million in Q3 2015 (Q3 2014: EUR196.3 million). That was a decrease of 36
percent and yielded an EBIT margin of 9.2 percent (Q3 2014: 15.9 percent).
Here, again, the decrease was due to the lower amount of special income
recognized at WACKER POLYSILICON. Adjusted for non-recurring effects, the
WACKER Group's EBIT increased by just under 4 percent year over year. Net
income for the reporting quarter amounted to EUR58.2 million (Q3 2014:
EUR119.0 million) and earnings per share came in at EUR1.21 (Q3 2014: