Wacker announces cost-cutting measures after weak third quarter

Munich, Germany – Wacker Chemie AG’s silicones division has reported a weak third quarter with both sales and earnings lower than the previous year.

During the three months to end of September, the division posted sales of €673 million, down 7% year-on-year and 6% sequentially.

Earnings (EBITDA) fell 19% year-on-year to €86 million, primarily due to “a weaker product mix, negative currency effects and lower prices,” said Wacker 30 Oct.

The earnings margin in the third quarter was 12.8%, down from 14.6% in the third quarter of 2024 and 14.6% in the preceding quarter.

Commenting on the overall group results, Wacker CEO Christian Hartel said the chemical industry was under pressure, particularly in Europe.

“The economic situation is tense, market demand is weak. At the same time, the market environment is changing, and competitive pressure is high – especially from China,” he said.

With third quarter results down year-on-year in “almost all business divisions,” Hartel said Wacker is taking action to focus on ‘cash and costs’.

The group, according to Hartel, launched “a comprehensive project to achieve significant cost savings” in production and administrative setup.

Measures are currently being developed, and implementation is set for the first quarter of 2026, Hartel said.