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Wacker Chemie AG Financial Results 9M 2023 | Financial Breakdown & Surprises with IR


Wacker Chemie AG 9M 2023: Key Takeaways

Key Highlights:

1. Q3 Performance:

Sales for the third quarter stood at 1.5 billion euros, marking a decrease of approximately 30% compared to the previous year. Lower Average Selling Prices (ASP) and volumes were the primary reasons for reduced sales. EBITDA was recorded at 152 million, yielding an EBITDA margin of around 10%.


2. Challenges:

The quarter witnessed headwinds in the chemical business, diminished demand resulting in an inventory backlog, falling solar-grade polysilicon prices, and high energy costs.


3. Sustainability:

Wacker Chemie’s commitment to sustainability remains strong, as evidenced by their shortlisting for the German Sustainability Prize 2023, which acknowledges strides made towards their Net Zero targets 2024.


4. Guidance Update:

The previously forecasted EBITDA range of 800 million to a billion euros has been adjusted, now focusing on the lower half, between 800-900 million euros. However, other financial KPIs remain stable.


5. Segment Analysis:

Silicone Business: The third quarter was characterized by weaker demand, especially in standards. There were also pricing pressures on certain specialities.

Polymers: Sales decreased due to lower demand from the construction sector, particularly in Europe. Yet, EBITDA remained strong owing to positive net pricing benefits.

Bio-Solutions: A transition is underway from legacy fine chemicals to biopharmaceuticals. Integration costs from recent acquisitions and the buildup for the mRNA facility have put pressure on earnings.

Polysilicon: Volumes decreased, and the EBITDA declined, mainly due to Chinese domestic solar poly pricing collapse.


6. Financial Position:

Wacker Chemie boasts a strong financial standing, with a net debt of 164 million euros at the end of Q3. This resilience reflects their disciplined approach, resulting in a healthy balance sheet.


7. Outlook and Future Plans:

Despite the challenges of Q3, the company remains confident in its future, underscored by its ambitious plans for 2030, particularly its expansion in the semiconductor grade facilities. They aim to support the growth of this industry further, providing high-quality materials essential for advanced design nodes.


For a more in-depth look into Wacker Chemie’s Q3 financial results and other relevant publications, stakeholders can visit the company’s official website.

  • WACKER Q3 2023 Highlights
  • FY 2023 Guidance Confirmed at Lower Half of Prior Range
  • Profit & Loss Statement EBITDA of €152m in Q3 2023
  • Balance Sheet Composition
  • SILICONES No Demand Recovery
  • POLYMERS Defending Margins in a Weak Demand Environment
  • BIOSOLUTIONS Weaker Demand than Expected
  • POLYSILICON Significantly Lower Prices for Solar-Grade Polysilicon
  • Net Financial Position
  • Appendix Guidance FY 2023
hoffmann - Wacker Chemie AG Financial Results 9M 2023 | Financial Breakdown & Surprises with IR -%sitename%

Joerg Hoffmann, CFA
Head of Investor Relations | Wacker Chemie AG


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