DGAP-News

Wacker Chemie AG: WACKER EXPECTS FURTHER GROWTH - Seite 3

next few weeks. A plant for modified siloxanes in Burghausen was expanded
as well. This intermediate for silicones is used in a variety of end
products, such as silicone fluids, emulsions and resins. A new facility for
manufacturing polyvinyl acetate solid resins has initiated production at
the polymer site in Nanjing (China). Its annual capacity is 20,000 metric
tons. The Group is extending its existing production setup at the Calvert
City site (USA) by building a new dispersions reactor. Capacity there will
increase by 85,000 metric tons per year. The reactor is expected to come on
stream mid-year.

Employees
WACKER's workforce increased slightly in 2014 by some 700 employees. WACKER
had 16,703 employees worldwide as of December 31, 2014 (Dec. 31, 2013:
16,009), up 4.3 percent on the prior-year period. This increase was mainly
the result of the takeover of a majority stake in Singapore-based Siltronic
Samsung Wafer and the acquisition of Scil Proteins Production in Halle,
Germany. At year-end, WACKER's German sites had 12,366 employees (2013:
12,322) and its international sites 4,337 (2013: 3,687).

Net Cash Flow, Net Financial Debt and Equity Ratio
Net cash flow almost doubled year on year, totaling EUR215.7 million in
2014 (2013: EUR109.7 million). Higher net income is the main reason for
this increase. As planned, net financial debt increased against the prior
year and amounted to EUR1,080.6 million at the balance sheet date (Dec. 31,
2013: EUR792.2 million). The rise of EUR288.4 million was less than had
been expected at the start of 2014.

WACKER's total assets rose 10 percent last year, totaling EUR6.95 billion
as of December 31, 2014 (Dec. 31, 2013: EUR6.33 billion), mainly due to
currency-translation effects, the increase in property, plant and
equipment, and higher trade receivables. On the reporting date, Group
equity amounted to EUR1.95 billion (Dec. 31, 2013: EUR2.20 billion). Higher
provisions for pensions due to lower discount rates were the main reason
for this decline. As a result, the equity ratio was 28.0 percent (Dec. 31,
2013: 34.7 percent).

Business Divisions
In 2014, WACKER SILICONES increased its sales by almost 4 percent to
EUR1.73 billion (2013: EUR1.67 billion), primarily due to higher volumes
and positive product-mix effects. EBITDA was lower year on year, declining
around 9 percent to EUR209.8 million (2013: EUR230.2 million). A key reason
for the decline was a non-recurring effect from the previous year. In 2013,