Wacker Chemie AG (WKCMY.PK, WKCMF.PK) reported that its third-quarter net income declined to 68.9 million euros from the prior year's 104.2 million euros, with earnings per share decreasing to 1.31 euros from 2.04 euros in the prior year.
The Munich-based chemical company posted sales of 1.24 billion euros for the quarter compared to 1.31 billion euros last year. That was a decline of 5 percent compared with a year ago, mainly due to markedly lower volumes and lower average prices for solar silicon. The decrease was not fully offset by chemical business, which achieved better prices, positive product-mix effects and higher silicone volumes for specialties. Changes in exchange rates had only a marginal impact on the
year-over-year sales trend.
WACKER confirmed its sales and EBITDA guidance for full-year 2018. The company continues to expect Group sales for 2018 to grow by a low-single-digit percentage versus the same period last year's 4.92 billion euros. EBITDA is likely to rise by a mid-single-digit percentage compared with last year's 1.01 billion euros. WACKER expects net income from continuing operations to rise markedly.
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