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Wacker Chemie Expects To Grow Slightly In FY20; Net Income To Rise Significantly

Wacker Chemie AG (WKCMY.PK,WKCMF.PK) said, for 2020, the company expects to increase sales by a low-single-digit percentage. EBITDA is likely to decline from 2019. Adjusted for non-recurring effect, EBITDA is likely to decline by a mid-single-digit percentage. Fiscal 2020 net result is anticipated to rise significantly. The company noted that its fiscal 2020 forecast does not include the economic impact of a possible coronavirus pandemic.

During the first two months of the current year, Group sales were somewhat lower from prior year. This is partly due to restrictions in China on shipping products to customers, the company said.

For the first quarter, WACKER forecasts sales of some 1.2 billion euros. The Group expects EBITDA to be substantially above last year's level.

"From today's perspective, 2020 is going to be another very challenging year. In our polysilicon business, we still face strong competition and price pressure. Trade conflicts and geopolitical crises harbor downside risks," said CEO Rudolf Staudigl.

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