Wacker Chemie AG reported strong year-on-year sales growth and even stronger earnings for Q1 2006. Consolidated sales rose to EUR 798.5 million (Q1 2005: EUR 608.2 million). Despite higher raw material and energy costs, the Munich-based chemical company doubled its year-on-year EBITDA to EUR 183.6 million (Q1 2005: EUR 92.0 million). Group result reached EUR 66.2 million, up EUR 86.5 million year-on-year. Equity increased by 4.1% to EUR 930.7 million (Q1 2005: EUR 893.7 million), resulting in an equity ratio of 30.8% (Q1 2005: 30.8%). Net debt came down by 4% to EUR 954.1 million (Q1 2005: EUR 994.0 million). Total assets increased by 4 % to EUR 3,019.8 million (Q1 2005: EUR 2,900.2 million). Earnings per share reached EUR 1.49 (Q1 2005: EUR -0.39). During Q1 2006, 44.3 million shares were outstanding on average.
WACKER expects to continue the upward trend during 2006 in a favorable economic environment. An uncertain factor, however, is the impact of higher oil prices on the global economy. For the full year 2006 WACKER now expects sales growth slightly higher than 10%, which was last year’s growth rate. Full year EBITDA 2006 is expected between EUR 640 and 680 million.
The full quarterly report is available for download from Wacker Chemie AG’s website under the caption Investor Relations (www.wacker.com).