For 2024, WACKER President & CEO Christian Hartel referred in his speech to the forecast published in the Annual Report for 2023. WACKER expects sales this year in the range of € 6 billion to € 6.5 billion. Group earnings before interest, taxes, depreciation and amortization (EBITDA) are likely to come in between € 600 and € 800 million. “Over the past few months, our customers have started to replenish their inventories from the recently very low levels. We have seen the demand for silicones in particular grow. But this cannot yet be seen as a distinct sign of a lasting turnaround,” explained Hartel. “Conditions will remain harsh for the chemical industry and hence for WACKER as well.”
WACKER is responding to the current market environment with consistent cost-cutting and efficiency measures. “We are scrutinizing our non-personnel costs, taking a measured approach to new hires and we are working on our efficiency,” said the CEO.
Hartel also emphasized at the same time that “WACKER is on course. Our strategy is right. It is tomorrow’s megatrends – from electromobility and energy transition to digitalization, health and nutrition – that will continue to drive our business in the years ahead.” Hartel added that WACKER is continuously growing its market presence. The examples cited by the CEO included the mRNA center of competence that WACKER is set to open at the start of June in Halle, the construction of a new site for silicon specialties in Karlovy Vary in the Czech Republic and the expansion of semiconductor-grade polysilicon production facilities in Burghausen. “We are still investing systematically in expansion of our global network,” emphasized Hartel. “We are thus laying the foundation for tomorrow’s growth.”
In view of this, WACKER remains committed to its long-term targets: sales are expected to climb to over € 10 billion by 2030. At the same time, it intends to strengthen its profitability. The EBITDA margin is set to exceed 20 percent by 2030. As regards capital employed, WACKER intends to earn twice its cost of capital.
Shareholders were able to take part in the general debate live via video for their speeches and questions during the Annual Shareholders’ Meeting.
At today’s Annual Shareholders’ Meeting, 41,519,517 voting shares were represented – 79.61 percent of all eligible shares (number of shares outstanding: 49,677,983).
Details of the voting results and further information on the Annual Shareholders’ Meeting can be found at www.wacker.com under Investor Relations.
This press release contains forward-looking statements based on assumptions and estimates of WACKER’s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so.
