MUNICH (dpa-AFX) - Wacker Chemie AG (WKCMY.PK, WKCMF.PK), on Tuesday, reported FY24 preliminary sales of about EUR 5.72 billion, 11% lower than the prior year's EUR 6.40 billion.
Net income for the year was about EUR 265 million compared to EUR 327 million in 2023.
The Group's preliminary EBITDA declined 7% to EUR 770 million from EUR 824 million last year. This reduction is attributed to lower pricing, particularly in the solar-grade polysilicon sector, alongside consistently elevated energy costs in Germany. Additionally, reduced plant utilization rates have contributed to the decline in volumes.
'Despite the weak economic environment, WACKER is well positioned for the future in both financial and strategic terms. In the medium and long term, we will continue to benefit from global megatrends. Digitalization, renewable energies, electromobility and energy conservation are among the key drivers of our business,' said WACKER CEO Christian Hartel.
The company's strategic framework remains intact, which is why it confirmed its growth and sustainability objectives for the year 2030 during its Capital Markets Day in September, CEO added.
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