Chemical company Wacker Chemie AG (WKCMY.PK) Thursday reported income before income taxes of 61.9 million euros for the first quarter, significantly lower than 172.1 million euros in the comparable quarter last year, primarily impacted by decline in sales.
Net income declined to 48.4 million euros or 0.89 euros per share from 147.2 million euros or 2.90 euros per share last year.
EBITDA, or earnings before interest, taxes, depreciation, and amortization fell 38.8 percent to 172.1 million euros from 281 million euros a year ago.
Sales for the quarter decreased 14.6 percent to 1.489 billion euros from 1.744 billion euros in the previous year.
For fiscal 2024, the company has reaffirmed its outlook. It still expects sales to be in the range of 6 billion euros to 6.5 billion euros and EBITDA is projected between 600 million euros and 800 million euros.
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