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

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Rhodia signs MoU with Areva for rare earths and uranim

PARIS, FRANCE: Areva, ranked first in the global nuclear power industry and a key player in uranium mining, and Rhodia, leader in the production of ra ...

Read more
Lonza expands viral production capacity in Houston

BASEL, SWITZERLAND/HOUSTON, US:  Lonza announced it will expand its viral-based therapeutics business with the construction of a new, state-of- ...

Read more
LyondellBasell names new VP for Olefins and Polyolefins, Americas

ROTTERDAM, THE NETHERLANDS: LyondellBasell has named Tim Roberts as Senior Vice President, Olefins and Polyolefins for the Americas region. He will be ...

Read more
Lanxess striding ahead in 2011

Second quarter of 2011 progressing strongly Forecast of 10-15 per cent EBITDA growth confirmed Acquisitions also possible up to about € 1 b ...

Read more
BioAmber licenses technology to CELEXION for biobased adipic acid

  MINNEAPOLIS, US: BioAmber has signed an exclusive licensing agreement with CELEXION LLC for technology related to the production of adipic a ...

Read more
Rosneft buys 50 pc of Ruhr Oel GmbH, becomes BP partner

MOSCOW, RUSSIA: Rosneft has acquired 50 per cent of Ruhr Oel GmbH from the Venezuelan state oil company Petróleos de Venezuela SA (PDVSA). The ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X