DGAP-News

Wacker Chemie AG: WACKER ENDS Q3 2016 WITH GOOD RESULTS

DGAP-News: Wacker Chemie AG / Key word(s): Quarter Results
Wacker Chemie AG: WACKER ENDS Q3 2016 WITH GOOD RESULTS

27.10.2016 / 07:14
The issuer is solely responsible for the content of this announcement.

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- AT EUR1.35 BILLION, GROUP SALES FOR Q3 2016 DECLINE BY CLOSE TO 1
PERCENT YEAR OVER YEAR DUE TO PRICES AND BY 3 PERCENT QUARTER OVER
QUARTER AMID LOWER VOLUMES

- EBITDA OF EUR301 MILLION UP 14 PERCENT VERSUS LAST YEAR DUE TO GOOD
COST LEVELS, AND ON A PAR WITH THE PRECEDING QUARTER

- NET INCOME FOR Q3 AMOUNTS TO EUR68 MILLION

- AT EUR229 MILLION, NET CASH FLOW FOR Q3 2016 SUBSTANTIALLY HIGHER THAN
A YEAR AGO

- FORECAST UNCHANGED: EBITDA FOR FULL-YEAR 2016 - WHEN ADJUSTED FOR
SPECIAL INCOME - SHOULD REACH THE UPPER END OF THE PROJECTED RANGE OF 5
TO 10 PERCENT, WHILE GROUP SALES ARE EXPECTED TO GROW BY A LOW SINGLE-
DIGIT PERCENTAGE

Munich, October 27, 2016 - Wacker Chemie AG's Q3 2016 sales were slightly
lower year over year, while its earnings before interest, taxes,
depreciation and amortization (EBITDA) were substantially higher than last
year. The Munich-based chemical group posted sales of EUR1,346.1 million in
the reporting quarter (Q3 2015: EUR1,357.9 million), down 1 percent. This
slight decrease was chiefly due to lower year-over-year prices for solar
silicon, semiconductor wafers and some chemical products. Generally higher
volumes did not fully offset these price effects. Relative to the preceding
quarter (EUR1,386.2 million), sales were down by 3 percent, primarily due
to a decline in volumes for polysilicon and some chemical products.

WACKER achieved EBITDA of EUR300.9 million in Q3 2016, 14 percent more than
a year ago (EUR264.3 million) and on a par with the preceding quarter
(EUR300.0 million). The Group's EBITDA margin for July through September
2016 was 22.4 percent, compared with 19.5 percent a year ago and 21.6
percent in the prior quarter. The substantial year-over-year increase in
EBITDA was primarily attributable to the good cost level.

Group earnings before interest and taxes (EBIT) amounted to EUR115.2
million in Q3 2016 (Q3 2015: EUR125.5 million). That was a year-over-year
decrease of 8 percent and yielded an EBIT margin of 8.6 percent, compared
with 9.2 percent a year ago. Substantially higher depreciation contributed
to the year-over-year decline in EBIT. Net income for the reporting quarter
amounted to EUR67.5 million (Q3 2015: EUR58.2 million) and earnings per
share came in at EUR1.29 (Q3 2015: EUR1.21).