The hottest Wacker set a new sales record at the e

  • Detail

Wacker set a new record in sales at the end of the second quarter of 2010

quarterly report q2/2010 (PDF | 721 KB)

quarterly development (XLS | 487 KB)

conference call speech (PDF | 39 KB)

English full text original text

compared with the same period of the previous year, the Group sales in the second quarter of 2010 increased by 30% to 1.2 billion euros

interest, tax and depreciation.Profit before amortization increased to 309 million euros, 81% higher than the same period last year

the net profit in this period reached 135million euros

it is predicted that the annual sales in 2010 will be about 4.5 billion euros, and the EBITDA will exceed the record 1.06 billion euros in 2008

the investment budget in 2010 will be increased to 750million euros, funded by its own cash flow

Munich, Germany, July 30, 2010, especially because of the sharp increase in sales volume, Wacker Chemical Co., Ltd. ended the second quarter of 2010 with a record sales volume. The sales volume of the Munich based chemical group increased by 30% from April to June 2010, reaching 1.202 billion euros (year-on-year: 925.5 million euros). In addition, the stronger dollar also accelerated growth. Lower prices offset some of the sales growth. Wacker's yield increased significantly compared with the same period of last year and the first quarter of 2010. In the second quarter of 2010, the profit before interest, tax, depreciation and amortization (EBITDA) increased to 308.6 million euros (year-on-year: 170.1 million euros). Compared with the previous year, it increased by a full 81%, more than twice the growth rate of sales

due to the significant increase in customer demand, the utilization rate of production units during the reporting period was significantly better than that in the second quarter of 2009. As a result, the specific production cost of many products is significantly lower than that of the previous year. EBITDA profit margin crossed the 25% mark in the reporting quarter, reaching 25.7% (year-on-year: 18.4%). The group's total income before profit and tax (EBIT) from April to June 2010 was 204.7 million euros (same period last year: -53.7 million euros). In the second quarter of 2009, the high depreciation of special fixed assets of Shichuang electronic materials and the reserve for restructuring measures reduced EBIT by 136million euros. Thus, the EBIT profit margin increased to 17.0% in the second quarter of 2010 (year-on-year: -5.8%). The profit in the reporting quarter reached 135.4 million euros (year-on-year: -74.5 million euros). Thus, the profit per share was EUR 2.71 (same period last year: -1.47)

the significant increase in profits in the reporting quarter came from both the chemical business and the semiconductor business. The EBITDA of the three chemical departments was 118.9 million euros (same period last year: 83.4 million euros), 43% higher than that of the previous year. Shichuang electronic materials stabilized and continued to expand its EBITDA growth in the second quarter of 2010. The group's semiconductor division achieved an EBITDA of 18.0 million euros (year-on-year: -58.2 million euros) from April to June 2010. Even compared with the first quarter of 2010 (€ 01.2 million), Shichuang electronic materials has improved significantly. Wacker polysilicon continues to expand its profitability due to its increased sales volume and excellent technology and cost position. The EBITDA of this business unit from April to June 2010 increased to 174.6 million euros (year-on-year: 136.0 million euros). This is equivalent to an increase of 28% over the previous year. An increase of 11% compared with the first quarter of 2010 (€ 157.5 million)

thus Wacker predicts that the full year of 2010 will likely catch up with the record performance of the 2008 business year. When there is no significant economic downturn in the fourth quarter and the current exchange rate remains basically unchanged, the chemical group headquartered in Munich, Germany, expects its sales to be about 4.5 billion euros. At present, EBITDA will exceed the level of 1.06 billion euros in 2008

"Wacker increased its growth rate in the second quarter and was in a very good state in the middle of the business year", Rudolf Staudigl, President and CEO of the group, said in Munich on Friday. "Customer demand for our products continues to increase in all business units. This has contributed to the growth of our sales and revenue. 2010 will be a very successful year for Wacker."


Wacker group achieved double-digit business growth in all regions of the world during the reporting period from April to June 2010. Asia accounted for about 36% of the group's sales in the second quarter of 2010, thus maintaining wacker's largest sales market position, far surpassing other regions. Sales in this region increased from April to June 2010. 1. Before loading, check whether the loading handle is placed in the unloading position, increased by about 33%, reaching 430.9 million euros (same period last year: 325.1 million euros). Among them, the sales volume in China accounts for nearly 60%. The second largest sales market of Wacker group during the reporting period was European countries outside Germany. Sales there increased by 29% compared with the second quarter of last year, reaching 296.1 million euros (same period last year: 230.2 million euros). Germany's growth rate is not so large. Group sales here increased by only 13% in the second quarter of 2010 to 217.8 million euros (year-on-year: 192.6 million euros). This is mainly because the sales of polysilicon in Germany did not grow as rapidly as in other regions, especially in Asia. In the Americas, Wacker group's widely useful sales increased by 43% during the reporting period to 213.3 million euros (same period last year: 148.7 million euros). In this region, in addition to the substantial increase in customer demand, the stronger US dollar compared with the previous year also had a good impact on sales. The design gap reserved for component curing and metal replacement can be reduced, with better soft hardness range, soft touch and lower anti tightening skew, less noise, vibration and irregularity (NVH). In other regions, sales increased by 52% in the second quarter of 2010, reaching 439 million euros (the same period last year: 28.9 million euros). In general, wacker's sales outside Germany accounted for 82% in the reporting quarter (year-on-year: 79%)

investment and net cash flow

the total investment of Wacker group in the second quarter of 2010 reached 140.9 million euros (the same period of last year: 194.3 million euros). Despite this high investment, the net cash flow during the reporting period was 55.5 million euros (year-on-year: -110.2 million euros), significantly exceeding that. The investment focus from April to June 2010 will continue to be the expansion of the production capacity of ultra pure polysilicon. The "poly 9" expansion project with an annual production capacity of 10000 tons in the nonglitz production base was carried out smoothly as planned. Production is expected to begin there before the end of next year. The second phase expansion project of gas-phase silica production plant in Zhangjiagang, China is also progressing smoothly. The siloxane production plant in this production base will be officially put into operation this year. According to the published date, Wacker Chemical Co., Ltd. has purchased holla metal silicon production plant near Trondheim from fesil group in Norway since July 1, 2010. In this way, the chemical group improves the reliability of raw material supply and reduces the impact of fluctuations in raw material market prices. Through this strategic acquisition, Wacker has ensured about one-third of the annual demand for metallic silicon used in the production of organosilicon and ultra pure polysilicon


as of June 30, 2010, Wacker group had 15901 employees worldwide (March 31, 2010: 15733). This increase is mainly due to the additional personnel required for the significant increase in the utilization rate of production units and the personnel required for the new production capacity. By the end of June 2010, Wacker group had 12105 employees in its German production base (March 31, 2010: 11979), and 3796 employees in its foreign production base (March 31, 2010: 3754)

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI