Ad-hoc Disclosure - Wacker Chemie AG


Ad-hoc Disclosure

Ad-hoc disclosure of January 27, 2010

Munich, Jan 27, 2010

Ad-Hoc Disclosure as per Section 15 WpHG (German Securities Trading Act), Disclosed

January 27, 2010

Wacker Chemie AG / Business Figures

WACKER Recognizes High Non-Recurring Charges for Q4 2009

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.

Contact

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

Jörg Hoffmann
Tel. +49 89 6279-1633
Email

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 ad hoc-release 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, among other things, 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 the forward looking statements, nor does it assume an obligation to do so.