Wacker expects better in 2014

ERJ staff report (TP)

Munich, Germany – Chemical group Wacker said on 18 March that during the first two months of 2014 it experienced healthy demand across all business divisions.

Over the same period, sales were above the comparable prior-year figures, especially for polysilicon, and also for chemicals and semiconductors. Overall, the firm anticipates generating Q1 2014 sales of more than €1.1bn (Q1 2013: €1.08bn).

For full-year 2014, Wacker forecasts that both sales and earnings will be above the prior-year figures. Based on company projections, sales will rise by a mid-single-digit percentage. Every division is expected to surpass the volumes and sales achieved in 2013.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) are forecast to be at least 10 percent above the prior-year figure. Group net income, too, is expected to improve compared with 2013.

“After two challenging years, I am more optimistic about 2014,” said CEO Rudolf Staudigl.

The company published its fiscal 2013 figures in February – with sales of €4.48bn – about 3 percent below the previous year, with EBITDA reaching €679m.

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More details in the press release from Wacker