Alle Storys
Folgen
Keine Story von Wacker Chemie AG mehr verpassen.

Wacker Chemie AG

WACKER heads for another record year in 2007

Munich (euro adhoc) -

- Q3 Group sales rise 12 percent year on year to €959 million - 
EBITDA grows 24 percent to €270 million and EBITDA margin reaches 28 
percent - Earnings per share of €2.43 - Full-year Group sales 
expected to be 14 percent higher than 2006, with an EBITDA margin of 
around 26 percent
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
balance
November 8, 2007 - Wacker Chemie AG is heading
for another record year in 2007. In Q3, the Munich-based chemical 
group again significantly boosted year-on-year sales and earnings. 
Continued strong demand for many WACKER products, coupled with 
markedly higher production quantities, are the main drivers behind 
Q3´s strong performance. Volume gains and increased prices for some 
key product groups more than offset higher raw-material costs and 
negative currency effects from the strong euro. Group sales rose 12 
percent in Q3 to EUR958.5 million (Q3 2006: EUR857.3m).
WACKER´s earnings once again grew more strongly than sales, primarily
thanks to substantial volume gains and higher prices achieved in some
market segments. From July to September 2007, the Group generated 
earnings before interest, tax, depreciation and amortization (EBITDA)
of EUR269.9 million (Q3 2006: EUR217.9 m), up 24 percent compared to 
the prior-year period. The EBITDA margin rose to 28.2 percent (Q3 
2006: 25.4 percent). WACKER POLYSILICON posted the Group´s strongest 
earnings growth in Q3 2007. The division´s EBITDA exceeded the 
prior-year figure by 53 percent. Siltronic and WACKER SILICONES also 
improved their EBITDA by 17 percent and 8 percent, respectively. 
WACKER POLYMERS and WACKER FINE CHEMICALS, however, only marginally 
improved their year-on-year figures. The Group´s third-quarter 
earnings before interest and tax (EBIT) rose 34 percent to EUR186.8 
million (Q3 2006: EUR139.5m), with net income climbing to EUR120.6 
million (Q3 2006: EUR95.1m). Earnings per share in Q3 amounted to 
EUR2.43 (Q3 2006: EUR1.91). The Munich-based chemical group confirmed
its positive full-year 2007 sales and earnings forecast with further 
precision: WACKER now expects year-on-year sales growth of 14 percent
and an EBITDA margin of some 26 percent in 2007.
"Our third-quarter financial results underpin the Group´s operational
strength once again," says CEO Peter-Alexander Wacker. "The 
additional volumes created by our strategic growth projects are 
starting to incrementally influence sales and earnings. Our 
nine-month figures are paving the way for new sales and earnings 
benchmarks in 2007."
With sales of EUR318.2 million (Q3 2006: EUR252.7m), Asia continued 
to account for the largest share of total Group revenues in Q3 2007. 
Compared to the prior-year quarter, sales to customers in this region
rose nearly 26 percent - with Siltronic particularly profiting from 
the dynamic demand trends seen in Asian economies. In European 
countries excluding Germany, Group sales grew 6 percent to EUR255.2 
million (Q3 2006: EUR240.7m). Business also went well in Germany. 
There, sales rose 12 percent to EUR193.8 million (Q3 2006: 
EUR173.3m). In the Americas, Group sales for Q3 2007 were steady year
on year at EUR162.6 million (Q3 2006: EUR163.5m). The significantly 
weaker dollar - compared to the prior-year period - had a 
particularly strong impact here. In Other Regions, the Group boosted 
sales by 6 percent to EUR28.7 million (Q3 2006: EUR27.1m).
WACKER Group´s net cash flow rose 91 percent in Q3 to EUR257.0 
million (Q3 2006: EUR134.8m). In addition to robust overall business,
a primary factor for this rise was customer prepayments for future 
polysilicon shipments. These prepayments contributed EUR102.5 million
(Q3 2006: EUR35.7m) to the quarter´s net cash flow.
From July to September 2007, investments in intangible assets, 
property, plant, equipment, and financial assets amounted to EUR144.5
million (Q3 2006: EUR108.1m), a year-on-year increase of 34 percent. 
In Q3 2007, investments remained focused on ongoing strategic 
divisional growth projects. WACKER SILICONES is building a joint 
production complex for siloxanes and pyrogenic silica with Dow 
Corning at its Zhangjiagang site in China and is expanding its 
downstream silicone facilities there. WACKER POLYMERS is extending 
its dispersible polymer powder production facilities in Germany and 
building a new integrated site for dispersions and dispersible 
polymer powders in Nanjing, China. WACKER POLYSILICON is boosting 
polysilicon production capacity at Burghausen by over 22,000 metric 
tons per year. And Siltronic is increasing 300 mm wafer capacity at 
Burghausen and constructing a new 300 mm wafer factory in Singapore 
together with Samsung Electronics.
WACKER had 14,969 employees on September 30, 2007 (June 30, 2007: 
14,892). Compared to the end of Q2, the number of Group employees 
rose by around 1 percent. This increase was primarily due to ongoing 
expansion projects in Germany and Asia. On September 30, 2007, the 
Group´s German sites had 11,559 employees (June 30, 2007: 11,513 
employees) and international sites accounted for 3,410 employees 
(June 30, 2007: 3,379 employees).
Business Divisions In Q3 2007, WACKER SILICONES boosted its total 
sales by 6 percent to EUR341.1 million (Q3 2006: EUR321.2m), thanks 
primarily to further sales volume gains and partially to price 
increases. Negative currency shifts, however, impacted sales growth. 
WACKER SILICONES boosted EBITDA to EUR68.3 million - beating the 
prior-year figure (EUR63.2m) by 8 percent.
WACKER POLYMERS´ total Q3 sales rose 9 percent to EUR166.5 million 
(Q3 2006: EUR152.8m). Continued strong construction-sector demand led
to record-setting dispersible-polymer-powder sales for the division 
in that quarter. The Burghausen site´s new spray dryer, completed and
successfully ramped up in Q3, also contributed to the good results. 
All production sites ran at full capacity. However, the division´s 
functional polymers business was more subdued. On the earnings side, 
WACKER POLYMERS increased year-on-year EBITDA by 4 percent to EUR32.2
million (Q3 2006: EUR31.0m). Earnings growth did not quite match 
sales gains, primarily due to much higher raw-material costs and 
negative currency shifts.
WACKER FINE CHEMICALS posted sales of EUR24.3 million in Q3 2007 (Q3 
2006: EUR26.3m), around 8 percent below the prior-year period. 
Consolidation of business activities for custom synthesis products 
and catalog chemicals resulted in declining sales for this product 
segment. In contrast, the division profited from strong demand for 
biotech products, particularly cyclodextrins and cysteine. Moreover, 
Q3 saw the acquisition of new customer projects for bioengineered 
pharma proteins. From July to September 2007, WACKER FINE CHEMICALS 
generated an EBITDA of EUR0.8 million (Q3 2006: EUR-0.2m).
WACKER POLYSILICON generated record sales in Q3 2007. Total revenues 
soared 57 percent to EUR126.0 million (Q3 2006: EUR80.4m) compared to
the prior-year period. This growth was principally due to higher 
polysilicon prices and volumes. The "Poly 6" expansion stage was 
successfully completed in Q3, ahead of schedule. Surplus  volumes 
from this expansion stage were sold via short-term agreements. WACKER
POLYSILICON´s Q3 EBITDA rose 53 percent to EUR49.4 million (Q3 2006: 
EUR32.2m).
Siltronic posted sales of EUR360.2 million in Q3 2007, beating the 
prior-year figure (EUR330.7m) by 9 percent. Growth was primarily 
fueled by higher production volumes. Compared to Q2 2007, sales 
declined slightly - in large part due to a scheduled production pause
("warm down") at Burghausen´s 300 mm wafer production line. This 
measure enables Siltronic to boost the site´s existing 300 mm 
capacity by 60,000 wafers per month. Siltronic was able to partially 
offset the planned 300 mm sales decline, for instance due to higher 
silicon ingot sales to the solar industry. Siltronic´s year-on-year 
EBITDA grew 17 percent to EUR115.0 million (Q3 2006: EUR98.2m). 
Product-mix adjustments in favor of 300 mm wafers, sales to the solar
industry and efficiency enhancements had a positive impact on results
despite significantly negative exchange-rate effects.
Outlook The first three quarters of 2007 proved successful for 
WACKER. As a result of this positive business development, the Group 
expects to post new full-year sales and earnings records. Based on 
today´s figures, WACKER confirms its positive full-year forecast with
further precision. The Group now expects year-on-year sales growth of
14 percent to nearly EUR3.8 billion (2006: EUR3.34b). The previous 
guidance specified sales growth of over 10 percent. The full-year 
EBITDA margin is expected to come in at around 26 percent (2006: 23.6
percent).
Information for editorial offices: the full Q3 2007 report can be 
downloaded from WACKER´s website (www.wacker.com) under Investor 
Relations.
Key Group Figures
|in EUR million       |Q3 2007  |Q3 2006  |Change |9M 2007|9M 2006|Change|
|                     |         |         |in %   |       |       |in %  |
|                     |         |         |       |       |       |      |
|Sales                |958.5    |857.3    |12     |2,861.2|2,486.2|15    |
|EBITDA1              |269.9    |217.9    |24     |796.2  |597.2  |33    |
|EBITDA margin2       |28.2 %   |25.4 %   |11     |27.8 % |24.0 % |16    |
|EBIT3                |186.8    |139.5    |34     |552.9  |357.0  |55    |
|EBIT margin2         |19.5 %   |16.3 %   |20     |19.3 % |14.4 % |35    |
|                     |         |         |       |       |       |      |
|Financial result     |-6.1     |-7.4     |-18    |-17.7  |-36.3  |-51   |
|Income before taxes  |180.7    |132.1    |37     |535.2  |320.7  |67    |
|Net income           |120.6    |95.1     |27     |365.1  |227.8  |60    |
|attributable to      |         |         |       |       |       |      |
|Wacker Chemie AG     |         |         |       |       |       |      |
|shareholders         |         |         |       |       |       |      |
|                     |         |         |       |       |       |      |
|Earnings per share in|2.43     |1.91     |27     |7.35   |4.77   |54    |
|EUR                  |         |         |       |       |       |      |
|                     |         |         |       |       |       |      |
|Investments (incl.   |144.5    |108.1    |34     |416.2  |280.5  |48    |
|financial assets)    |         |         |       |       |       |      |
|                     |         |         |       |       |       |      |
|Net cash flow        |257.0    |134.8    |91     |603.3  |172.5  |>100  |
|                     |         |         |       |       |       |      |
|in EUR million       |Sept. 30,|Sept. 30,|Dec.31,|       |       |      |
|                     |2007     |2006     |2006   |       |       |      |
|                     |         |         |       |       |       |      |
|Equity               |1,815.4  |1,503.0  |1,585.8|       |       |      |
|Financial liabilities|293.8    |437.0    |409.9  |       |       |      |
|Provisions for       |363.8    |362.6    |354.8  |       |       |      |
|pensions             |         |         |       |       |       |      |
|Net financial debt   |-100.6   |382.4    |367.0  |       |       |      |
|Total assets         |3,852.3  |3,110.4  |3,258.2|       |       |      |
|                     |         |         |       |       |       |      |
|Employees (number at |14,969   |14,654   |14,668 |       |       |      |
|end of period)       |         |         |       |       |       |      |
|                     |         |         |       |       |       |      |
|1 EBITDA is EBIT before depreciation and amortization.                  |
|2 Margins are calculated based on sales.                                |
|3 EBIT is the result from continuing operations for the period before   |
|interest and other financial results, limited partnership interests and |
|income taxes.                                                           |
This press release contains forward-looking statements based on assumptions and
estimates of WACKER´s Executive Board. Although we assume the expectations in
these forward-looking statements are realistic, we cannot guarantee they will
prove to be correct. The assumptions may harbor risks and uncertainties that may
cause the actual figures to differ considerably from the forward-looking
statements. Factors that may cause such discrepancies include, among other
things, changes in the economic and business environment, variations in exchange
and interest rates, the introduction of competing products, lack of acceptance
for new products or services, and changes in corporate strategy. WACKER does not
plan to update the forward-looking statements, nor does it assume the obligation
to do so.
end of announcement                               euro adhoc 08.11.2007 07:29:48

Further inquiry note:

Christof Bachmair
Media Relations & Information
Tel.: +49 (0)89 6279 1830
E-Mail: christof.bachmair@wacker.com

Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: CDAX, Classic All Share, HDAX, MDAX, Midcap Market Index,
Prime All Share
Börsen: Börse Frankfurt / official dealing/prime standard

Original-Content von: Wacker Chemie AG, übermittelt durch news aktuell

Weitere Storys: Wacker Chemie AG
Weitere Storys: Wacker Chemie AG