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WACKER Group 2017 Income From Cont. Opns Climbs

WACKER Group (WKCMY.PK,WKCMF.PK) reported that its preliminary net income for fiscal year 2017 surged to 885 million euros from the prior year's 189 million euros. It included income of 635 million euros from discontinued operations from the first-quarter of 2017. This amount comprises the gain from deconsolidation of Siltronic as a WACKER Group segment and Siltronic AG's net income in the first quarter of 2017.

Income from continuing operations climbed 40 percent to about 250 million euros in 2017 from 178 million euros last year.

Sales for the year were 4.92 billion euros up some 6 percent from last year's 4.63 billion euros, primarily due to higher volumes. Sales grew at both chemicals and polysilicon businesses compared to the previous year. The rise was particularly strong for silicones.

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