MUNICH, Germany - Wacker Chemie AG has revised upward its sales and earnings forecast for full-year 2010 after a strong third quarter. July-to-September sales at the Munich-based chemical group climbed 29 percent to EUR 1,269.5 (2009: EUR 986.5 million). Higher sales volumes mainly fueled the increase. Customer demand was strong this year during the usually weaker summer vacation period. Growth was also supported by the U.S. dollar’s strength compared to a year earlier. All in all, prices were at about the same level as the third quarter of 2009. WACKER’s earnings soared compared to both the year-earlier quarter and the second quarter of 2010.
full-year 2010, WACKER expects new sales and earnings records. The Munich-based
chemical company anticipates consolidated sales of well over EUR 4.6 billion,
with EBITDA exceeding EUR 1.1 billion.
our strong third quarter, WACKER is headed for a new record year,” said CEO
Rudolf Staudigl. “We expect to surpass our EBITDA peak value of 2008 by about
EUR 100 million. Every division is experiencing strong demand for WACKER
products. Even if demand edges down over coming months, which seems likely,
market conditions will remain favorable. The outlook is good for increasing our
sales again next year.”
the third quarter of 2010, WACKER achieved robust double-digit growth in all
key regions of the world. Asia reinforced its
position as WACKER’s largest market. July-to-September sales there rose to EUR
466.6 million, up 32 percent on the third quarter of 2009. China accounted
for about 60 percent of WACKER’s Asian sales. WACKER also posted strong sales
growth in Germany and the
rest of Europe. In Germany, sales climbed to EUR 228.9
million, up 27 percent on the third quarter of 2009. In the other European
countries, WACKER’s business grew some 26 percent, with sales climbing to EUR
319.8 million. In the Americas,
WACKER increased its third-quarter sales by 34 percent to EUR 218.2 million.
Expansion there was supported not only by greater customer demand, but also by
the U.S. dollar’s strength compared to a year earlier. In the other regions,
third-quarter sales rose 2 percent to EUR 36.0 million. Overall, WACKER
generated 82 percent of its third-quarter sales with customers outside Germany.
WACKER Reports Strong Third Quarter, Raises Forecast
November 7, 2010