WACKER sees growth 2011

WACKER sees growth for 2011

12:29 PM, 17th June 2011
WACKER sees growth for 2011
Dr Rudolf Staudigl, President & CEO, WACKER

  • Strong start in Q1 2011 with higher sales volumes and revenues
  • Consolidated sales of over € 5 billion expected for full year 2011
  • EBITDA for 2011 should reach prior-year level despite significantly higher raw material costs and polysilicon-expansion ramp-up costs

MUNICH, GERMANY: Wacker Chemie AG expects further sales-revenue and sales-volume gains for 2011. The company announced that the upward trend for business segments continued in Q1 2011. Owing to strong customer demand across all sectors and regions, the company ended 2010 with new sales and earnings records. Consolidated sales rose 28 per cent to € 4.75 billion (2009: € 3.72 billion). Earnings before interest, taxes, depreciation and amortization (EBITDA) nearly doubled to € 1.19 billion (2009: € 607 million). Net income increased to € 497 million last year. In 2009, WACKER had posted a loss of € 74.5 million, due to a number factors including provisions and fixed-asset impairments.

With a continuing growth trend, WACKER anticipates that 2011’s consolidated sales will cross the € 5 billion mark. According to current plans, EBITDA is expected to reach the high level of 2010 despite significantly rising raw-material costs and ramp costs for polysilicon capacity expansion.

“We have entered 2011 with confidence and a firm financial position. With an established long-term investment strategy we have a solid basis in the world’s growth regions over the last few years – above all in Asia. Customer demand for our products remains strong at all divisions. This means 2011 is going to be another very successful year for WACKER,” said CEO Rudolf Staudigl in a press conference on Wednesday.

© WOC News



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