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Ad-hoc disclosure of July 18, 2023

  • Disclosure of Insider Information as per Article 17 of MAR
  • Wacker Chemie AG / Annual Forecast
  • WACKER lowers annual forecast

Munich, Jul 18, 2023

Based on its latest estimates made today, Wacker Chemie AG (WACKER) expects key financial performance indicators for 2023 to be lower than previously projected. This is primarily due to ongoing weak customer demand in a large number of industries, continuing inventory-reduction measures by customers and the lower year-over-year prices for many of the company’s products. A recovery in demand is yet to be seen. WACKER now expects this weak demand to continue in the second half of the year.

Specifically, WACKER now has the following expectations:
Group sales for 2023 are likely to come in between €6.5 billion and €6.8 billion (previous guidance: between €7 billion and €7.5 billion). Full-year EBITDA is now expected to range between €800 million and €1.0 billion (previous guidance: between €1.1 billion and €1.4 billion). These figures are below current average market expectations, with Group sales reaching €7.0 billion and EBITDA €1.1 billion (source: Vara Research, July 12, 2023). WACKER’s forecast for the 2023 EBITDA margin has not changed; it is likely to be substantially lower than last year. ROCE is projected to be below the cost of capital (previous guidance: above the cost of capital, substantially lower than last year). Projections for capital expenditures, net cash flow, net financial debt and depreciation/amortization are unchanged.

Contact

Wacker Chemie AG
Hanns-Seidel-Platz 4
D-81737 München

Jörg Hoffmann
Tel. +49 89 6279-1633
Email investor.relations@wacker.com

Additional Information

ISIN: DE000WCH8881
WKN: WCH888
Deutsche Boerse : WCH
Ticker Bloomberg CHM/WCK.GR
Ticker Reuters CHE/WCHG.DE
Listing: Frankfurt Stock Exchange (Frankfurter Wertpapierbörse), Official Market (Prime Standard)

Disclaimer:

This publication contains forward-looking statements based on assumptions and estimates of WACKER’s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so.

This document includes supplemental financial measures (not clearly defined in the applicable financial reporting framework) that are or may be alternative performance measures (APM). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of WACKER’s net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report of Wacker Chemie AG which is available for download under www.wacker.com.

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Ad-hoc disclosure

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