Financial Report from WACKER Shows 11% Drop in Sales Amidst Market Challenges

On March 12, WACKER Chemie AG released its 2024 financial report, revealing a 11% decrease in sales, amounting to €5.7 billion. The decline is primarily attributed to falling prices of polysilicon, which significantly affected sales volumes. In contrast, the chemical division managed to maintain sales at the previous year's level, while the biotechnology division achieved an increase in sales year-over-year.

EBITDA fell by 7% to €763 million, with the chemical division holding steady and the biotechnology division showing growth. The overall drop in prices, particularly for polysilicon used in solar cells, coupled with persistently high energy costs in Germany and reduced production capacity due to lower sales volumes, were key factors. However, cost savings from implementing lean measures positively impacted profit development.

EBIT saw a sharp decline of 28%, dropping to €290 million.

Dr. Christian Hartel, President and CEO of WACKER, stated that the market environment remains challenging, with economic weakness influencing customer ordering behaviors, particularly in the construction industry, where caution prevails. Conversely, demand for silicones, especially specialty silicones, is expected to continue its robust growth, alongside anticipated sales increases in the semiconductor-grade polysilicon business.

Looking ahead to 2025, WACKER anticipates group sales between €6.1 billion and €6.4 billion, with growth expected across all regions and business sectors. EBITDA is projected to range from €700 million to €900 million, with EBITDA margins expected to remain consistent with the previous year.