For Q4 2009, Wacker Chemie AG has recognized non-recurring charges of about €150 million that will significantly impact the Group’s full-year 2009 earnings, according to preliminary figures.

The non-recurring charges include an extraordinary addition to pension provisions of about €50 million, which reflects the higher average life expectancy of the Group’s pension-fund beneficiaries. On top of this, WACKER made provisions of some €45 million in Q4 2009 for phased early-retirement schemes, working-life accounts, and the Kempten plant closure, which has already been announced. With these one-time charges, WACKER’s fourth-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) amounts to about €90 million (Q4 2008: €118.7m). Additionally, WACKER has recognized impairments on fixed assets at Siltronic and WACKER SILICONES that impact earnings before interest and taxes (EBIT) by about €55 million. As a result, WACKER has a fourth-quarter EBIT loss of about €-60 million (Q4 2008: €-13.6m).

For full-year 2009, non-recurring charges – including those already announced for exiting the solar wafer business, for provisions and for fixed-asset impairments – add up to a total of about €340 million. This amount is fully recognized in EBIT, estimated at about €20 million on a preliminary basis (2008: €647.9m). One-time charges reduce 2009’s EBITDA by a total of some €160 million. As a result, preliminary EBITDA amounts to about €600 million (2008: €1.055bn). Due to these special items, WACKER expects to post negative net income of some €-80 million for the full year 2009 (2008: €438.3m).

You will find further information about WACKER’s Q4 2009 performance and its fiscal 2009 key figures in a press release to be issued today.

The Q4 and fiscal 2009 figures and trends contained in this ad-hoc disclosure are preliminary. Wacker Chemie AG will publish its Q4 Report and 2009 Annual Report on March 24, 2010.