Wacker Chemie AG

Peter-Alexander Wacker is new Chairman of the Supervisory Board

- At its constituent session, new Supervisory Board unanimously elects Peter-Alexander Wacker to its Chairman - Rudolf Staudigl becomes President & CEO, Wilhelm Sittenthaler joins Executive Board - Executive and Supervisory Board proposals adopted by large majority at 2008 Annual Shareholder Meeting - Dividend raised to €3.00 for 2007, including a special bonus - Sales and aernings forecast for 2008 reaffirmed

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Munich (euro adhoc) - May 8, 2008 - Today, Wacker Chemie AG´s Supervisory Board unanimously elected former President & CEO Peter-Alexander Wacker (57) to its chairman during its constituent session following 2008´s Annual Shareholder Meeting. At the end of the Annual Shareholder Meeting, Rudolf Staudigl (53) took over as President & CEO, as previously announced. Wilhelm Sittenthaler (52) acquired a seat on WACKER´s Executive Board, his appointment also taking effect at the end of the Annual Shareholder Meeting. The changeover on both boards was thus completed as planned.

After the best year in its over 90-year history, the MDAX-listed chemical company will distribute a total of EUR149.0 million (2007: EUR124.2m) to its shareholders. The dividend, including a special bonus of EUR0.75 (2007: EUR0.50), rose to EUR3.00 (2007: EUR2.50) per entitled share. The Annual Shareholder Meeting likewise adopted the remaining Supervisory and Executive Board proposals by a large majority.

WACKER´s 2007 sales and earnings marked a new all-time high. Sales increased 13 percent to EUR3.78 billion (2006: EUR3.34bn), with net income rising 36 percent to EUR422 million (2006: EUR311.3 million).

In the first quarter of 2008, the Munich-based chemical company maintained its growth course. Q1 sales rose 8 percent year on year, reaching EUR1.02 billion (Q1 2007: EUR943.7 million). Net income climbed to EUR130.6 million (Q1 2007: EUR114.5m), up 14 percent.

WACKER reaffirmed its full-year forecast for 2008. The company expects consolidated sales to gain clearly over 10 percent. EBITDA (earnings before interest, tax, depreciation and amortization) is expected to grow, too.

"Despite significant economic headwinds, we are on course for solid sales and earnings growth," said outgoing President & CEO Peter-Alexander Wacker to the shareholders on Thursday in Munich. "Our strong first quarter is a sound basis for sustaining the positive trend during the rest of the year," he added.

At the same time, Peter-Alexander Wacker thanked shareholders, business partners and employees for their trust. "I´m especially grateful to our employees, whose hard work over the years greatly helped to ensure WACKER´s success," he said. "I cannot stress enough how much I value their commitment."

Resolutions and Voting Results At today´s Annual Shareholder Meeting, 43,328,013 voting shares were represented - 83.08 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results for agenda items 2 through 8 were as follows:

Item 2: Resolution on the Appropriation of Profits The Executive and Supervisory Boards proposed that the net retained profit for fiscal 2007, amounting to EUR1.09 billion, be appropriated as follows: EUR149.0 million to be paid out to shareholders, EUR617.0 million to be kept as retained earnings and EUR326.9 million to be carried forward to new account. The proposal was adopted. The result was: - 43,295,950 Yes votes (99.99 percent) - 1,941 No votes

Item 3: Resolution on the Ratification of the Actions of the Executive Board The Executive and Supervisory Boards´ proposal to ratify the acts of the members of Wacker Chemie AG´s Executive Board during fiscal 2007 was adopted. The result was: - 42,348,623 Yes votes (99.90 percent) - 42,892 No votes

Item 4: Resolution on the Ratification of the Actions of the Supervisory Board The Executive and Supervisory Boards´ proposal to ratify the acts of the members of Wacker Chemie AG´s Supervisory Board during fiscal 2007 was adopted. The result was: - 42,361,492 Yes votes (99.90 percent) - 42,935 No votes

Item 5: Resolution on the Choice of Auditor The Supervisory Board´s proposal to appoint KPMG as auditor for fiscal 2008 was adopted. The result was: - 43,243,604 Yes votes (99.88 percent) - 50,914 No votes

Item 6: Supervisory Board Elections The Supervisory Board´s proposal to appoint the following persons to the Supervisory Board was adopted by over 90.9 percent in each case. Matthias Biebl, Dr. Werner Biebl, Franz-Josef Kortüm, Dr. Thomas Strüngmann, Dr. Bernd Voss, Dr. Peter-Alexander Wacker, Dr. Susanne Weiss and Prof. Dr. Ernst-Ludwig Winnacker were appointed until the 2013 Annual Shareholder Meeting. The individual results for each candidate have been published at www.wacker.com.

Item 7: Authorization to Acquire Treasury Shares The Executive and Supervisory Boards´ proposal to authorize the Executive Board to acquire treasury shares representing up to 10 percent of the current share capital was adopted. The result was: - 43,251,467 Yes votes (99.99 percent) - 2,019 No votes

Item 8: Resolution on Changes to the Articles of Incorporation The Executive and Supervisory Boards´ proposal to increase the annual compensation (stipulated in the Articles of Incorporation) for Supervisory Board members from EUR15,000 to EUR25,000 was adopted. The result was: - 42,393,007 Yes votes (97.91 percent) - 903,256 No votes

Information for editorial offices: All documents relating to Wacker Chemie AG´s 2008 Annual Shareholding Meeting can be downloaded from WACKER´s website (www.wacker.com) under Investor Relations.

This press release contains statements about the resolutions of the 2008 Annual Shareholder Meeting. Said statements are not binding and serve the sole purpose of providing an overview. They may not always correspond to the exact wording and full extent of the resolutions adopted at the Annual Shareholder Meeting.

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

Further inquiry note:

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

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

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

Weitere Meldungen: Wacker Chemie AG

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