WACKER Reports Strong Third Quarter, Raises Forecast
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.
For 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.
“Following 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.”
In 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.
For 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.
“Following 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.”
In 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.
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