Wacker Forecasts Sales Growth and High Net Cash Flow in 2017
MUNICH – At its annual press conference on March 14, Wacker Chemie AG announced it met its sales target and exceeded its earnings expectations in 2016. On presenting its annual report, the Munich-based chemical company announced that Group sales came in at €5.40 billion, up 2% year over year (2015: €5.30 billion). The rise was mainly due to higher volumes. EBITDA – earnings before interest, taxes, depreciation and amortization – totaled €1,101.4 million in 2016 (2015:€1,048.8 million). This corresponds to an EBITDA margin of 20.4% (2015: 19.8%).
In 2017, WACKER intends to continue its good performance, despite expectations of higher raw material prices. For the full year, WACKER aims to lift its sales by a mid-single-digit percentage. WACKER anticipates a high cash inflow from operating activities again in 2017. At about €400 million, net cash flow should be at a similar level to the year before. Group net income is also projected to reach the year-earlier level.