Wacker Chemie AG Financial Results H1 2025 | Lower Earnings, Solid Liquidity, And Updated Outlook

Wacker Chemie AG H1 2025: Key Takeaways

Wacker Chemie AG: Q2 2025 Financial Results

Presented by Joerg Hoffmann, CFA – Head of Investor Relations

In this detailed financial update, Joerg Hoffmann, CFA, Head of Investor Relations at Wacker Chemie AG, presents the company’s performance for Q2 2025. While the group navigates persistent macroeconomic headwinds, FX volatility, and softer demand, Wacker remains strategically focused and financially stable with a strong balance sheet and proactive measures to improve profitability.

Q2 2025 Financial Summary:

Metric	Q2 2025	Q2 2024	YoY Change
Sales	€1.41bn	€1.47bn	-4%
EBITDA	€114m	€155m	-26%
EBIT	-€11m	€38m	n.a.
Net Income	-€19m	€35m	n.a.
EBITDA Margin	8.1%	10.5%
CapEx	€96m	€177m	-46%
Net Financial Debt	€1.14bn	€661m	+72%

Joerg Hoffmann attributed the earnings decline primarily to weak volume and pricing effects, unfavourable FX developments, and a planned turnaround in Polymers. Additionally, elevated working capital and dividend payments contributed to the higher net debt.

Strategic Context & Outlook:

Due to continued geopolitical uncertainty, trade-related volatility, and a challenging global economic environment, Wacker has lowered its full-year 2025 guidance:

Sales now expected between €5.5–5.9 billion (previously €6.1–6.4 billion)
EBITDA expected between €500–700 million (down from €700–900 million)

To address these challenges, Wacker is implementing a 3-part strategy:

Growth: Intensify sales and innovation focus
Cash: Optimise working capital and reduce investment
Cost: Improve productivity and utilisation rates across sites

Segment Performance Highlights:

Silicones

Sales: €713m | EBITDA: €104m
Volumes higher YoY, but pricing and FX impacts continued
Supported by insurance compensation for supply chain disruptions
FY outlook: sales and EBITDA at prior-year level

Polymers

Sales: €363m | EBITDA: €40m
Weaker construction demand in Europe and China
VAM turnaround impacted results
FY outlook: slight sales decline, stable margins

Biosolutions

Sales: €87m | EBITDA: €5m
Market softness continued, though the BENEO partnership for human milk oligosaccharides was initiated
FY outlook: stable sales and EBITDA

Polysilicon

Sales: €218m | EBITDA: €34m
Strong semi-grade sales, but solar volumes down due to U.S. tariffs and policy uncertainty
Focus remains on cost and cash management
FY outlook: flat sales, EBITDA ~€100m

Balance Sheet & Liquidity:

Equity: €4.5bn (down €335m due to FX and dividend)
Liquidity: €796m cash and securities
CapEx: €96m in Q2, aligned with strategic spend reduction
Pension liabilities: reduced to €692m

Wacker’s financial health remains strong, with ample liquidity, although net debt rose to support dividends and investments.

Sustainability & ESG Progress:

Product carbon footprints (PCFs) are now provided to customers
Progress in reducing CO₂e emissions, water, and energy consumption
Targets remain in place for Net Zero by 2045
Continued focus on diversity, supplier sustainability, and safety

Outlook & Key Message from Joerg Hoffmann:

“While Q2 was affected by external pressures, WACKER is actively adapting. We are taking steps to drive growth where possible, manage costs, and protect liquidity. Our diversified portfolio and strong customer relationships give us the flexibility to navigate uncertainty and prepare for a more favourable market environment.”

Chapters

WACKER Q2 2025 Comments
Updated FY 2025 Group Outlook
Profit & Loss Statement
Balance Sheet Composition
Silicones
Polymers
Biosolutions
Polysilicon
Net Financial Position

Resources

Host

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

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