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Wacker Chemie Issues Profit Warning - Quick Facts

Wacker Chemie AG (WKCMY.PK,WKCMF.PK) announced, according to preliminary figures, the company anticipates EBITDA of about 930 million euros for 2018, a decline of 8 percent from prior year, and also below recent EBITDA guidance. Net income from continuing operations is now expected to be slightly higher than a year earlier (previous guidance: substantially higher than the year before). The company's net financial debt is likely to be somewhat above 600 million euros at year-end 2018 (previous guidance: about 500 million euros).

The company said the reason for the EBITDA decrease is that 2018 earnings guidance included insurance compensation that is still outstanding for the incident at Charleston, Tennessee. WACKER continues to expect that insurance compensation will fully cover both the repair work at the site and the business interruption loss.

According to preliminary figures, Wacker Chemie AG posted total sales of 4.98 billion euros compared to 4.92 billion euros, prior year, a rise of 1 percent, mainly due to higher volumes and prices in chemicals.

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