Annual Shareholders' Meeting
Invitation and agenda
Annual Shareholders' Meeting 2019
Invitation to the annual shareholders’ meeting
WACKER’s performance in 2018 was marked by the strength of our chemical business and by difficult conditions in the solar market. Overall, sales rose by 1 percent to €4.98 billion. EBITDA (earnings before interest, taxes, depreciation and amortization) came in at €930 million, 8 percent lower than the year before. The decline was due to the fact that insurance compensation was still outstanding for the shutdown caused by the loss event at our Charleston site in Tennessee (USA). Income from continuing operations rose, on the other hand, by 4 percent to €260 million.
The outstanding insurance payments affected our net financial debt. It came in at €609 million and was thus higher year over year. Net cash flow of around €125 million was clearly positive, but substantially lower than a year earlier because capital expenditures were higher (as planned), as were cash outflows for working capital and taxes.
Essentially, 2018 was a year of highs and lows for WACKER. Our chemical business performed very well, especially silicones. We increased silicone sales by 14 percent. The rise was fueled by volume gains for high-margin specialties and higher prices for standard products. Chemical-division EBITDA increased to more than €780 million, despite significantly higher raw-material costs, particularly in our polymer business.
We further strengthened WACKER BIOSOLUTIONS by acquiring a new production site for pharmaceutical actives. The acquisition doubled our capacity in the fast-growing biopharmaceuticals market.
Another positive fact is that, after the loss event at Charleston in September 2017, we resumed polysilicon production there in Q2 2018 and, in December, reached full capacity.
But, aside from this good news, WACKER POLYSILICON faced very challenging market conditions in 2018. Business was dampened by China’s decision to curb feed-in tariffs for some solar projects and to cap the amount of new solar installations.
Given our strong income from continuing operations, the Supervisory and Executive Boards will propose to the Annual Shareholders’ Meeting in May 2019 that a dividend of €2.50 per share should be distributed.
We hereby invite WACKER’s shareholders to attend our Annual Shareholders’ Meeting at the ICM – International Congress Center Munich (Munich-Riem: Am Messesee 6, 81829 Munich, Germany) – on Thursday, May 23, 2019, starting at 10:00 a.m.
Wacker Chemie AG
Dr. Peter-Alexander Wacker
Chairman of the Supervisory Board
Dr. Rudolf Staudigl
President & CEO
- Presentation of the adopted Annual Financial Statements as per December 31, 2018, the approved Consolidated Financial Statements as per December 31, 2018, the combined 2018 Management Report and the Executive Board’s Explanatory Report on the information pursuant to Section 289a, Subsection 1, and Section 315a, Subsection 1 of the German Commercial Code (HGB) as well as the 2018 Supervisory Board Report
- Resolution on the Appropriation of Profits
- Resolution on the Ratification of the Actions of the Executive Board
- Resolution on the Ratification of the Actions of the Supervisory Board
- Election of Auditor
Directions to the Annual Shareholder Meeting
- The Annual Shareholder Meeting is being held at the ICM – International Congress Center of Munich (tradeshow grounds in Riem/Munich).
Am Messesee 6, Messegelände, 81829 Munich, Germany
Admission: from 8:30 a.m.
Start: 10:00 a.m.
- Arriving by car:
“Neue Messe München/ICM” is directly off the A94 autobahn and can be reached via Feldkirchen-West (exit no. 6) or München-Riem (exit no. 5).
You can park free of charge at the ICM’sWestparking garage. Please show your parking garage ticket to the central information desk where you will receive a free ticket to exit the garage.
- Arriving via public transportation:
Your admission ticket simultaneously serves as a free public transportation ticket. The U2 subway line runs directly to the “Neue Messe München/ICM,” station “Messestadt”Weststarting at 5:30 a.m.
Detailed Explanations of Shareholders’ Rights and Agenda Items Not Requiring a Resolution
(PDF 229.8 KB) - english
Proxy Authorization Form
(PDF 140.2 KB) - english
Annual Report 2018 (incl. consolidated financial statements, Combined Management Report, Supervisory Board report, appropriation-of-profits proposal, Executive Board report pursuant to Section 289, Subsection 4 and Section 315, Subsection 4 of the German Commercial Code)
(PDF 4402.1 KB) - english
Wacker Chemie AG's 2018 consolidated financial statements, Combined Management Report and compensation report
(PDF 1908.9 KB) - only in german
Articles of Association (latest version)
(PDF 87.8 KB) - english
Do you have any questions about the Annual Shareholder Meeting? We’d be please to answer them for you.
(Monday-Thursday 9 a.m. - 12 a.m. CET)
Tel. +49 89 6279-1444
Fax: +49 89 6279-4567