Munich, January 28, 2014 – Wacker Chemie AG has restructured its contractual and delivery relationships with one of its solar-silicon customers. The two companies signed the relevant agreements today. WACKER will continue supplying this customer with hyperpure polysilicon for solar cells, albeit under different conditions than previously agreed. The adjustments made include delivery volumes and prices. Due to the new provisions, WACKER will recognize special income from retained advance payments and from damages in its financial statements for the first quarter of 2014. WACKER’s first-quarter EBIT (earnings before interest and taxes) is expected to increase by about €115 million as a result. For competitive reasons, WACKER has agreed that it will not disclose the customer's name and will keep the details of the new provisions confidential.
Ad-hoc disclosure of January 28, 2014
Ad-Hoc Disclosure according to Sec. 15 WpHG (German Securities Trading Act) of Jan. 28, 2014
Wacker Chemie AG / Business Figures / Special Income
WACKER Restructures Contractual Relationship with one of its Solar-Silicon Customers
Munich, Jan 28, 2014
Wacker Chemie AG
Tel. +49 89 6279-1633
Deutsche Boerse: WCH
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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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