Invitation and agenda Annual Shareholders' Meeting 2016 - Wacker Chemie AG


Invitation and agenda

Annual Shareholders' Meeting 2017

Invitation to the Annual Shareholders’ Meeting

Dear Shareholders,

Fiscal 2016 was another good year for WACKER. Sales grew by 2 percent to €5.40 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose to €1.10 billion, an even better figure than we had forecast. Substantially higher levels of depreciation – a result of our capital expenditures in recent years – did lower our net profit for the year at the Group level, though. The positive business trend was also evident in other key financial indicators. We reduced our net financial debt to below the one-billion-euro mark and, at around €400 million, our net cash flow grew significantly.

We want you, our shareholders, to share in this positive performance. The Supervisory Board and Executive Board will propose a dividend of €2.00 per share at the Annual Shareholders’ Meeting. Overall, we will be distributing more than half of the company’s profit for the year to you.

Commissioning of our new production site in Charleston, Tennessee (USA) was one the most important events for us in 2016. Ramping up such a technically complex greenfield plant was a formidable task – and everyone involved accomplished it with great success. All of the facilities are now in operation and we are producing polysilicon of exceptional quality at the site.

WACKER’s three chemical divisions again lifted their sales last year amid strong volume growth. WACKER SILICONES even surpassed the two-billion-euro sales mark for the first time and continued to consolidate its position as the world’s second-biggest manufacturer of silicones. EBITDA at our chemical divisions totaled around €660 million, climbing even faster than sales.

Our polysilicon business performed well amid continuing low prices and the remaining commissioning costs for our new production site in Charleston. Sales volumes continued to rise and our production capacities were fully utilized, enabling us to increase total sales.

Our semiconductor wafer business benefited from strong customer demand in the second half of the year. Higher sales volumes, further cost reductions and lower currency-hedging expenses all helped Siltronic grow EBITDA significantly.

Overall, we are very satisfied with the development of business. Of particular note is the good sales and earnings trend at our three chemical divisions.

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 May 19, 2017, starting at 10:00 a.m.

Sincerely,
Wacker Chemie AG

Dr. Peter-Alexander Wacker
Chairman of the Supervisory Board

Dr. Rudolf Staudigl
President & CEO

Agenda (summary)

  1. Presentation of the adopted Annual Financial Statements as per December 31, 2016, the approved Consolidated Financial Statements as per December 31, 2016, the combined 2015 Management Report, the 2015 Supervisory Board Report and the Executive Board’s Explanatory Report on the information pursuant to Section 289, Subsection 4, and Section 315, Subsection 4 of the German Commercial Code (HGB)
  2. Resolution on the Appropriation of Profits
  3. Resolution on the Ratification of the Actions of the Executive Board
  4. Resolution on the Ratification of the Actions of the Supervisory Board
  5. Election of Auditor

Contact for the Annual Shareholder Meeting

For further questions and/or suggestions, we will be glad to attend to you on telephone 089-6279-1444 (from Monday to Thursday, between 09.00AM and 12.00PM) or fax 089-6279-4567, respectively.