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. --------------------------------------------------------------------------------
27.01.2010
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 --------------------------------------------------------------------------------
Further inquiry note:
Investor Relations
Tel.: +49 (0)89 6279 1633
E-Mail: investor.relations@wacker.com
Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX,
Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Original-Content von: Wacker Chemie AG, übermittelt durch news aktuell