Wacker silicones reports 23% profit rise in Q3

Munich, Germany - Wacker Chemie AG’s silicones business has posted a 23% profit rise despite flat sales in Q3 2016.

Sales for the three months to end of September stood at €503.1 million, on a par with the previous year’s €501.9 million.

Volumes, said the Munich-based company, were “somewhat higher” than a year ago but prices for a number of product groups edged lower.

Sales were also negatively affected by exchange-rate.

On a quarter-to-quarter basis, the division’s sales were 2% lower at €514.4 million, due to price and volume effects.

Earnings (EBITDA) €100.7 million in the reporting quarter, roughly 23% higher than a year before. The figure showed an 8% rise compared to the preceding quarter

Higher plant utilisation at over 90% on average as well as low costs were the contributing factors for the profit.