ERJ staff report (DS)
Munich, Germany -- Wacker Chemie AG increased both its Q3 sales and operating result by 21 percent against the prior-year quarter and expects new full-year sales and earnings records.
July-September consolidated sales reached €1157 million (Q3 2007: €958.5m). Growth was driven chiefly by soaring sales volumes, higher prices and favorable product-mix effects. The weaker US dollar, in contrast, lowered the sales upturn by 5 percent. The first nine months of 2008 saw consolidated sales exceeding the three-billion-euro level for the first time, up 15 percent year on year to €3.30 billion (9M 2007: €2.86bn).
Q3 earnings also showed strong gains. Despite the tough business climate, Wacker generated an EBITDA (earnings before interest, taxes, depreciation and amortization) of €327.5 million for the quarter (Q3 2007: €269.9m). This translates into an EBITDA margin of 28.3 percent (Q3 2007: 28.2 percent). Cumulative January-September EBITDA reached €936.5 million (9M 2007: €796.2m).
The Munich-based chemical company reiterated its forecast of higher sales and earnings for the full 2008 fiscal year. Consolidated sales should surpass the prior-year figure clearly more than 10 percent. EBITDA is also expected to increase.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from Wacker