Wacker Chemie AG recorded a decline in sales and earnings in Q2 2024. The chemical company generated sales of around EUR 1.5 billion (Q2 2023: EUR 1.75 billion). This is a decline of 16%. According to the Group, the main reason for this were significantly lower sales of polysilicon for the solar industry. Compared to the previous quarter (EUR 1.49 billion), revenue fell by one percent.
Lower sales volumes the decisive factor
At EUR 160 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 37% below the previous year's figure (EUR 256 million). Here too, the lower sales volumes were the decisive factor. The Group's EBITDA margin for the quarter under review was 10.9% (Q2 2023: 14.6%). In the previous quarter, this had amounted to 11.6%.
Forecast for 2024 confirmed
Wacker confirms its forecast for the full year 2024 and continues to expect sales of between EUR 6 and 6.5 billion. EBITDA for the year as a whole is expected to be between EUR 600 million and EUR 800 million, according to the Group.
Signs of economic recovery
"Even if there are still no signs of a sustained turnaround, we are seeing the first signs of an economic recovery. Inflation rates are falling faster than expected and energy and raw material prices have eased somewhat. The order situation in the chemical industry has improved. In some areas, we are also seeing that demand is rising again. Sales and earnings in our chemical divisions have risen compared to the first quarter," said Group CEO Christian Hartel. The company further increased its investments in the 2nd quarter.