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Wacker Chemie AG: WACKER ENDS Q3 2016 WITH GOOD RESULTS - Seite 4
both year over year and quarter over quarter. EBITDA at WACKER BIOSOLUTIONS
reached EUR11.3 million in the reporting quarter, markedly above both last
year (EUR7.2 million) and the preceding quarter (EUR9.0 million). This
strong growth was fueled by higher sales, by positive product-mix effects
and by the division's good cost situation, which in turn was partly due to
high plant utilization. The EBITDA margin came in at 20.9 percent, after
14.3 percent a year ago and 16.9 percent in Q2 2016.
WACKER POLYSILICON generated sales totaling EUR253.0 million in the
reporting quarter, down 7 percent over both last year (EUR271.4 million)
and the preceding quarter (EUR272.2 million). Volumes remained almost
unchanged versus last year, while average prices for solar silicon were
lower. Compared with the preceding quarter, volumes slowed substantially
because customers ordered less solar silicon toward the end of the
reporting quarter. WACKER POLYSILICON's EBITDA totaled EUR82.3 million from
July through September (Q3 2015: EUR91.8 million). The main reason for this
10-percent decline was that EUR17.8 million in advance payments retained
and damages received were recorded in Q3 2015, whereas no special income of
this kind was posted in the reporting quarter. Adjusted for this income,
the division's EBITDA grew by 11 percent year over year. Relative to the
preceding quarter (EUR77.7 million), EBITDA was up 6 percent. This increase
reflected the fact that no further start-up costs for the new Charleston
site were incurred in the reporting quarter. WACKER POLYSILICON's July-
through-September EBITDA margin was 32.5 percent, after 33.8 percent in Q3
2015 and 28.5 percent in Q2 2016.
Siltronic generated total sales of EUR236.7 million in Q3 2016, up some 3
percent from last year's EUR230.6 million. A year-over-year increase in
volumes, including inventory sales, compensated for lower average prices.
Favorable exchange rates also had a positive impact on the sales trend.
Compared with the preceding quarter (EUR229.8 million), sales were also up
3 percent. This rise was due to somewhat higher volumes than in Q2 2016 and
positive exchange-rate effects, with average prices remaining virtually
unchanged. Reporting-quarter EBITDA at Siltronic reached EUR36.9 million,
after EUR29.4 million a year earlier, an increase of 26 percent. In Q3
2015, currency-hedging losses had reduced EBITDA by EUR15.5 million, while
the corresponding reporting-quarter figure was only EUR6.8 million.
Relative to the preceding quarter (EUR35.0 million), EBITDA was up by
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