Wacker Chemie AG ended Q2 2010 with a new sales record, primarily thanks to much higher sales volumes.Q2 2010 sales at the Munich-based chemical Group climbed 3 % to 1,202.0 million euros (Q2 2009: 925.5 million euros). Growth was additionally driven by the stronger US dollar. In contrast, lower prices slowed the sales increase to some extent. Wacker also posted clear earnings gains compared to both a year ago and Q1 2010. Earnings before interest, taxes, depreciation and amortization (EBITDA) in Q2 climbed to 308.6 million euros (Q2 2009: 170.1 million euros). Up over 81 % on the prior year, EBITDA rose at more than double the rate of sales. Thanks to significantly stronger customer demand, capacity utilization at the Group’s production facilities was much higher than in
Q2 2009. As a result, specific manufacturing costs for many products were lower than a year earlier. In Q2 2010, the Group’s EBITDA
margin exceeded the 25 5 threshold, climbing to 25.7 % (Q2 2009: 18.4 %). The Group’s second-quarter earnings before interest and taxes (EBIT) increased to 204.7 million euros (Q2 2009: -53.7 million euros). In Q2 2009, high impairments at Siltronic and provisions for structural measures had lowered EBIT by some 136 million euros. The Group’s EBIT margin for Q2 2010 rose to 17.0 % (Q2 2009: -5.8 %). Net income for the period reached 135.4 million euros (Q2 2009: -74.5 million euros). As a result, second-quarter earnings per share amounted to 2.71 euros (Q2 2009: -1.47euros). Chemical divisions and semiconductor business both contributed to the quarter’s significant earnings growth.
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