Quarterly Report - Wacker Chemie AG


Quarterly Report

3rd quarter 2013

  • THIRD-QUARTER GROUP SALES REACH €1.17 BILLION, 1 PERCENT ABOVE Q2 2013 AND 3 PERCENT BELOW Q3 2012
  • AT €168 MILLION, THIRD-QUARTER EBITDA COMES IN 19 PERCENT LOWER THAN LAST YEAR DUE TO PRICE DECLINES AND, AMID POLYSILICON-INVENTORY REDUCTIONS, 11 PERCENT BELOW Q2 2013
  • PRICE PRESSURE AND CURRENCY EFFECTS SLOW DOWN CHEMICALS BUSINESS, WHILE SOLAR-SILICON VOLUMES SHOW SUBSTANTIAL GROWTH
  • NET INCOME FOR Q3 2013 AMOUNTS TO €5 MILLION
  • SALES AND EARNINGS FORECAST UNCHANGED: WACKER EXPECTS FULL-YEAR 2013 GROUP SALES OF SOME €4.5 BILLION, WITH EBITDA DOWN YEAR ON YEAR AND A SMALL POSITIVE NET INCOME
  • FULL-YEAR NET CASH FLOW NOW EXPECTED TO BE POSITIVE


€ million
Q3 2013 Q3 2012* Change
in %
9M
2013
9M
2012*
Change
in %
Sales 1,165.4 1,200.9 -3.0 3,392.0 3,617.7 -6.2
EBITDA (1) 167.9 206.1 -18.5 520.6 661.5 -21.3
EBITDA margin (2) 14.4% 17.2% - 15.3% 18.3% -
EBIT (3) 35.1 72.5 -51.6 119.8 268.3 -55.3
EBIT margin (2) 3.0% 6.0% - 3.5% 7.4% -
Financial result -23.4 -14.8 58.1 -59.1 -42.9 37.8
Income before taxes 11.7 57.7 -79.7 60.7 225.4 -73.1
Net income for the period 5.4 28.8 -81.3 25.6 131.7 -80.6
Earnings per share in € 0.09 0.54 -83.3 0.45 2.60 -82.7
Investment (incl. financial assets) 98.2 291.4 -66.3 350.7 722.4 -51.5
Net cash flow(4) 164.7 -90.4 n.a. 190.8 -294.9 n.a.

€ million
Sep 30,
2013
Sep 30,
2012*
Dec 31,
2012*
Equity 2,167.4 2,081.7 2,121.3
Financial liabilities 1,476.4 1,177.4 1,197.2
Net financial liabilities (5) 688.1 411.3 700.5
Total assets 6,589.7 6,748.1 6,492.8
Employees (number at end of period) 16,074 16,433 16,292
(1) EBITDA is EBIT before depreciation and amortization.
(2) Margins are calculated based on sales.
(3) EBIT is the result from continuing operations for the period before interest and other financial result, and income taxes.
(4) Sum of cash flow from operating activities (excluding changes in advance payments) and cash flow from noncurrent investment activities (before securities), including additions due to finance leases.
(5) Sum of cash and cash equivalents, noncurrent and current securities, and noncurrent and current financial liabilities.
* Adjusted for the effect of the adoption of IAS 19 (revised); see changes in accounting and valuation methods in the quarterly report.