Invitation and agenda - Wacker Chemie AG

Invitation and agenda

Annual Shareholders' Meeting 2014

Invitation to the Annual Shareholders’ Meeting

Dear Shareholders,

2013 was not an easy year for WACKER. Although we set new records for polysilicon volumes, sales and EBITDA (earnings before interest, taxes, depreciation and amortization) fell short of the prior-year figures. Low polysilicon prices and persistent price pressure in the semiconductor segment were mainly responsible for this decrease. Overall, price effects reduced Group sales by around €360 million. Although our chemical business was stable, there was an absence of economic tailwinds.

Given the exceptionally challenging circumstances, WACKER delivered a respectable performance. Looking at the bottom line, we generated Group sales of €4.48 billion, a good 3 percent below the previous year, with EBITDA coming in at €679 million, down about 15 percent.

By focusing our resources, we cut costs across every corporate sector. This enabled us to limit the negative influence of price effects on Group sales and EBITDA. Cost savings of around €225 million made a substantial contribution. We also benefited here from higher production output.

Net cash flow and net financial debt performed better than expected. This positive outcome was due to lower investments and inventories. At just under €800 million, net financial debt remained well below the one-billion-euro mark.

We hereby invite WACKER’s shareholders to attend our Annual Shareholders’ Meeting at the ICM – International Congress Centre Munich (Munich-Riem, Am Messesee 6, 81829 Munich, Germany) – on Thursday, May 15, 2014, starting at 10:00 a.m.

Best regards,

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, 2013, the approved Consolidated Financial Statements as per December 31, 013, the combined 2013 Management Report, the 2013 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
  6. Approval to Amend the Profit and Loss Transfer Agreements Between Wacker Chemie AG and Various Subsidiaries

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.