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Wacker set sales records in 2010

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Wacker set sales records in 2010

According to preliminary figures and as expected, Wacker Chemie AG set new sales and earnings records in 2010. The Munich-based chemical company posted total sales of 4.75 billion Euros in 2010, up some 28 % year over year. Strong sales volumes due to high customer demand were the main factor behind the sales increase.

According to preliminary figures, earnings before interest, taxes, de-preciation and amortization (EBITDA) amounted to some 1.19 billion Euros (2009: €607 million) – thus nearly doubling compared with the previous year. Earnings growth was largely the result of higher sales volumes and revenues, as well as increased plant utilization, which benefited specific production costs. Earnings before interest and taxes (EBIT) are estimated to reach 760 million Euros in 2010 (2009: €27 million) according to preliminary calculations. Net income for the year is expected at around 495 million Euros.
In fiscal 2010, Wacker’s investments (including acquisitions) amounted to some 690 million Euros (2009: €740 million) according to preliminary figures. Wacker financed these completely through cashflow from operating activities. In terms of net financial liabilities, Wacker posted a surplus of around 260 million Euros at the end of 2010. Investment spending focused on the Group’s strategic growth projects, primarily concerning hyperpure polysilicon production facilities under construction at the company’s Nünchritz (Germany) site.
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