On October 26, Wacker Chemical announced its third quarter results. The company's sales in the third quarter of 2023 were 1.52 billion euros, down 29% from the same period last year. Lower sales prices are the main reason for the decline in this performance, and poor sales volume and exchange rate effects also have a slight negative impact. Sales decreased 13% compared to the second quarter of 2023. In the third quarter of 2023
, Wacker achieved earnings before interest, tax, depreciation and amortization (EBITDA) of 152 million euros, down 67% from the same period last year. Lower product prices, lower sales volume and lower utilization rate of some production equipment are the main reasons for the decline in EBITDA in the current period. WACKER's EBITDA margin from July to September 2023 was 10.0%, compared with 14.6% in the previous quarter. "
The economic conditions in the third quarter of this year were particularly important for Wacker and the chemical industry as a whole," said Dr. Hoda (Dr. Christian Hartel), president and chief executive officer
of Wacker Chemie AG. Are still grim . Contrary to the predictions of many market experts at the beginning of the year that demand would recover in the second half of the year, the situation has not improved. Needless to say, growth is never linear. In the current situation, we will continue to promote the sustainable development of Wacker's business with strict cost control, while not relaxing the implementation of growth plans, focusing on the development of customized specialty chemicals. For example, we are expanding our high-purity semiconductor-grade polysilicon capacity to meet extremely demanding semiconductor applications and building new capacity for our biotech business, while investing in specialty silicones in China. In the field of polymers and silicones, we continue to cooperate with customers to develop specialty chemicals in spite of the short-term difficulties in the market. Sales
in WACKER's Silicones business segment totaled 673 million euros in the third quarter, down 24% from a year earlier. Lower prices, as well as reduced sales of specialty products and unfavorable exchange rate effects, are the main reasons for restraining sales growth. The business segment's EBITDA for the period was EUR 51 million, a decrease of 74% compared to the same period last year and a decrease of 2% compared to the previous quarter. In addition to lower prices, the utilization rate of production equipment is lower than same period last year, which also has a negative impact on profits. Total sales
of WACKER's polysilicon business for the period amounted to €342 million , a decrease of 45% compared with the same period last year and a decrease of 33% compared with the previous quarter. The main reason for the decline in performance is that the average price of polysilicon for solar cells is significantly lower than that of the previous year, and the sales volume is also reduced due to the limited production capacity caused by equipment maintenance. EBITDA for the period was €46 million, down 76% year-on-year and 70% quarter-on-quarter due to price and sales volume factors.
浙公网安备33010802003254号