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Wacker Chemie Q1 Net Income Increases; Raises Annual Forecast

Wacker Chemie (WKCMY.PK,WKCMF.PK) reported first quarter net income of 106.6 million euros compared to 68.9 million euros, prior year. Earnings per share was 2.06 euros compared to 1.31 euros. EBITDA was 246.4 million euros, up 42 percent from prior year.

First quarter sales were 1.36 billion euros, 14 percent higher than last year. The company said business in construction materials and polysilicon, was especially strong. Higher prices, particularly for solargrade polysilicon, also lifted sales.

WACKER revised upward the full-year 2021 forecast. The company expects Group sales to exceed the previous year's figure by a low-double-digit percentage. WACKER had previously expected sales growth in the mid-single-digit percentage range. EBITDA is now likely to increase by 15 to 25 percent. The company had previously expected growth of 10 to 20 percent.

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