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27.01.2010 – 07:19

Wacker Chemie AG

EANS-Adhoc: Wacker Chemie AG
WACKER Recognizes High Non-Recurring Charges for Q4 2009

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.


Munich, January 27, 2010 - For Q4 2009, Wacker Chemie AG has recognized non-recurring charges of about EUR150 million that will significantly impact the Group´s full-year 2009 earnings, according to preliminary figures.

The non-recurring charges include an extraordinary addition to pension provisions of about EUR50 million, which reflects the higher average life expectancy of the Group´s pension-fund beneficiaries. On top of this, WACKER made provisions of some EUR45 million in Q4 2009 for phased early-retirement schemes, working-life accounts, and the Kempten plant closure, which has already been announced. With these one-time charges, WACKER´s fourth-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to about EUR90 million (Q4 2008: EUR118.7m). Additionally, WACKER has recognized impairments on fixed assets at Siltronic and WACKER SILICONES that impact earnings before interest and taxes (EBIT) by about EUR55 million. As a result, WACKER has a fourth-quarter EBIT loss of about EUR-60 million (Q4 2008: EUR-13.6m).

For full-year 2009, non-recurring charges - including those already announced for exiting the solar wafer business, for provisions and for fixed-asset impairments - add up to a total of about EUR340 million. This amount is fully recognized in EBIT, estimated at about EUR20 million on a preliminary basis (2008: EUR647.9m). One-time charges reduce 2009´s EBITDA by a total of some EUR160 million. As a result, preliminary EBITDA amounts to about EUR600 million (2008: EUR1.055bn). Due to these special items, WACKER expects to post negative net income of some EUR-80 million for the full year 2009 (2008: EUR438.3m).

You will find further information about WACKER´s Q4 2009 performance and its fiscal 2009 key figures in a press release to be issued today.

end of announcement                               euro adhoc

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Original content of: Wacker Chemie AG, transmitted by news aktuell