Wacker reports growth in silicones business

Munich, Germany – Wacker silicones business has reported growth in year-on-year sales in 2016, with the figure rising to more than €2 billion, slightly higher than last year’s €1.94 billion.

The German speciality company announced 14 March that a 3% rise volume growth helped offset a “somewhat” lower price conditions.

Earnings (EBITDA) outpaced sales growth, climbing 31% to €361.2 million in the full fiscal year 2016.

The rise, according to Wacker, was driven by volume growth, good plant utilisation and “high levels of cost efficiency”.

“Wacker is in very good shape,” said CEO Rudolf Staudigl, adding the company expected volumes to rise at every division this year.

“We are, however, facing headwind from raw-material prices. At present, they are rising significantly and this could impact earnings,” the CEO added.