Wacker Chemie AG (WKCMF)
| Previous close | 150.00 |
| Open | 152.09 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's range | 152.09 - 152.09 |
| 52-week range | 70.40 - 175.60 |
| Volume | 15 |
| Avg. volume | 536 |
| Market cap | 7.556B |
| Beta (5Y monthly) | 1.74 |
| PE ratio (TTM) | 27.94 |
| EPS (TTM) | 5.44 |
| Earnings date | N/A |
| Forward dividend & yield | 2.43 (1.60%) |
| Ex-dividend date | 13 May 2021 |
| 1y target est | N/A |
- EQS Group
Wacker Chemie AG: WACKER Raises its Forecast for Fiscal Year 2021
Wacker Chemie AG / Key word(s): Profit Warning/Change in ForecastWacker Chemie AG: WACKER Raises its Forecast for Fiscal Year 202116-Jun-2021 / 17:10 CET/CESTDisclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.Disclosure of Insider Information as perArticle 17 of MARWacker Chemie AG / Forecast ChangeWACKER Raises its Forecast for Fiscal
- EQS Group
Wacker Chemie AG: Christian Hartel Takes Over as WACKER's President & CEO
DGAP-News: Wacker Chemie AG / Key word(s): AGM/EGM/Personnel12.05.2021 / 12:55 The issuer is solely responsible for the content of this announcement. PREVIOUS PRESIDENT & CEO RUDOLF STAUDIGL RETIRES, HANDING OVER THE REINS TO CHRISTIAN HARTEL ANGELA WÖRL JOINS THE EXECUTIVE BOARD 2021 ANNUAL SHAREHOLDERS' MEETING ADOPTS PROPOSALS OF EXECUTIVE AND SUPERVISORY BOARDS BY LARGE MAJORITIES DIVIDEND OF €2.00 FOR FISCAL 2020 WACKER REAFFIRMS POSITIVE OUTLOOK FOR BOTH Q2 AND FULL YEARMunich, May 12, 2021 - As of the end of today's Annual Shareholders' Meeting, Rudolf Staudigl (66), President and CEO of Wacker Chemie AG, retired from the company. As already announced, he was succeeded in that position by Christian Hartel (50). Also as of the end of the Annual Shareholders' Meeting, Angela Wörl (54) joined the Munich-based chemical company's Executive Board. Thus, the passing of the baton in WACKER's Executive Board went ahead as planned.Amid the ongoing coronavirus pandemic, this year's Annual Shareholders' Meeting of Wacker Chemie AG was the second to be held in an entirely virtual format: for health-protection reasons, no shareholders or shareholder representatives were physically present at the event.In his speech - published in advance on the WACKER website and broadcast live to shareholders via internet - retiring President and CEO Rudolf Staudigl discussed the pandemic's impact in the past fiscal year. "2020 was an exceptionally challenging year for all of us," said Staudigl. "WACKER initially got off to a good start in the first quarter of the year. In the second quarter, we had to contend with sales slumps of up to 20 percent. First signs of a recovery came in the third quarter and the final quarter of 2020 was a strong one, with sales rising substantially across all divisions."At €4.69 billion, total sales in 2020 were down 5 percent year over year. Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased 15 percent to €666.3 million. This decline was mainly due to the special income of €112.5 million posted in the previous year. Adjusted for this amount, EBITDA was only 1 percent lower year over year. Net income for the year climbed to €202.3 million (2019: €-629.2 million). At the same time, net cash flow almost quadrupled and net financial debt declined substantially.WACKER continued on its growth trajectory in Q1 2021. Sales grew 14 percent year over year to €1.36 billion - WACKER's highest first-quarter sales figure since its IPO in 2006. EBITDA rose 42 percent to €246 million. Net income for the period came to €107 million, up by a substantial 55 percent year over year. "These figures give us confidence as regards the further course of business," Staudigl emphasized.WACKER had already raised its full-year forecast when it presented its Q1 figures, and it reaffirmed its positive outlook at the Annual Shareholders' Meeting. Despite the continued risks connected with the coronavirus pandemic, and even higher raw-material prices and currency-exchange effects which are estimated to have a full-year impact of over €200 million, WACKER expects full-year Group sales to exceed last year's figure (€4,692.2 million) by a low-double-digit percentage. According to current projections, EBITDA is likely to increase by 15 to 25 percent versus last year's figure (€666.3 million)."Thus far, WACKER has made it through the pandemic better than expected. The best defenses against the pandemic have proven to be our strong strategic focus on specialty chemical products that provide high added value for our customers, our lead in quality for polysilicon and the expansion of our biotechnology business," said Staudigl. "We want our shareholders to participate in this success as well." For 2020, WACKER is distributing a total of €99.4 million in dividends to its shareholders. The dividend per dividend-bearing share is €2.00. The Executive and Supervisory Boards' other proposals were also adopted by large majorities.At the end of the Annual Shareholders' Meeting, Staudigl retired after 38 years at WACKER, 13 of which he spent at the helm. In his speech, he thanked all the company's shareholders, business partners and Supervisory Board members for the trust they had placed in him. The retiring CEO reserved special thanks for all the company's employees: "Their skills, commitment and performance are the source of WACKER's success."Resolutions and Voting ResultsAt today's Annual Shareholders' Meeting, 41,175,769 voting shares were represented - 78.95 percent of all eligible shares (number of shares outstanding: 49,677,983). The voting results were as follows for agenda items 2 through 7:Item 2: Resolution on the Appropriation of Net Retained ProfitThe Executive and Supervisory Boards' proposed that the retained profit for 2020 of €1.20 billion be appropriated as follows: €99.4 million to be distributed to shareholders and €1.10 billion to be carried forward to new account. The proposal was adopted with the following result:- 41,150,140 Yes votes (99.94 percent)- 23,082 No votesItem 3: Resolution on the Ratification of the Actions of the Executive BoardThe Executive and Supervisory Boards' proposal to ratify the actions of the members of Wacker Chemie AG's Executive Board during 2020 was adopted with the following result:- 41,046,525 Yes votes (99.93 percent)- 27,241 No votesItem 4: Resolution on the Ratification of the Actions of the Supervisory BoardThe Executive and Supervisory Boards' proposal to ratify the actions of the members of Wacker Chemie AG's Supervisory Board during 2020 was adopted with the following result:- 38,702,948 Yes votes (95.78 percent)- 1,705,771 No votesItem 5a: Appointment of AuditorThe Supervisory Board's proposal to appoint KPMG AG as the auditor of both the Annual Financial Statements and the Consolidated Financial Statements for fiscal 2021, as well as for any reviews of interim financial reports for fiscal 2021, was adopted with the following result:- 39,836,180 Yes votes (96.76 percent)- 1,336,030 No votesItem 5b: Appointment of AuditorThe Supervisory Board's proposal to elect KPMG AG as auditor for a potential audit of Interim Financial Reports for fiscal 2022 during the period until the next Annual Shareholders' Meeting in 2022 was adopted with the following result:- 39,835,655 Yes votes (96.75 percent)- 1,336,605 No votesItem 6: Resolution on the Approval of the Compensation System for Executive Board Members The Supervisory Board's proposal to make changes, effective January 1, 2021, to the compensation system for Executive Board members, taking account of the terms of Section 87a (1) AktG and on the recommendation of the Executive Committee, was adopted with the following result:- 39,905,547 Yes votes (96.92 percent)- 1,266,332 No votesItem 7: Resolution on Compensation of Supervisory Board Members (Simultaneously Approval of the Compensation System for Supervisory Board Members) The Supervisory and Executive Boards' proposal to confirm the compensation - and consequently the underlying compensation system - for members of the Supervisory Board, as provided for in Article 12 of Wacker Chemie AG's Articles of Association, was adopted with the following result:- 40,102,163 Yes votes (97.40 percent)- 1,069,310 No votes Note to editors:All documents relating to Wacker Chemie AG's 2021 Annual Shareholders' Meeting can be downloaded from WACKER's website (www.wacker.com) under Investor Relations. This press release contains statements about the resolutions of the 2021 Annual Shareholders' Meeting. Said statements are not binding and serve the sole purpose of providing an overview. They may not always correspond to the exact wording and full extent of the resolutions adopted at the Annual Shareholders' Meeting.This press release contains forward-looking statements based on assumptions and estimates of WACKER's Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so. For further information, please contact:Wacker Chemie AGMedia Relations & InformationChristof BachmairTel. +49 89 6279-1830christof.bachmair@wacker.com12.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Wacker Chemie AG Hanns-Seidel-Platz 4 81737 München Germany Phone: 0049-89-6279-1633 Fax: 0049-89-6279-2933 E-mail: investor.relations@wacker.com Internet: www.wacker.com ISIN: DE000WCH8881 WKN: WCH888 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1195902 End of News DGAP News Service
- EQS Group
Wacker Chemie AG: WACKER's Sales and Earnings Rise in Q1 2021
DGAP-News: Wacker Chemie AG / Key word(s): Quarterly / Interim Statement30.04.2021 / 07:00 The issuer is solely responsible for the content of this announcement. GROUP SALES FOR Q1 2021 REACH €1.36 BILLION, UP 14 PERCENT YEAR OVER YEAR AND 10 PERCENT QUARTER OVER QUARTER AT €246 MILLION, EBITDA IS UP 42 PERCENT YEAR OVER YEAR AND 26 PERCENT QUARTER OVER QUARTER, CHIEFLY DUE TO SUBSTANTIALLY HIGHER VOLUMES NET INCOME FOR Q1 AMOUNTS TO €107 MILLION NET CASH FLOW REACHES €131 MILLION FULL-YEAR FORECAST RAISED: GROUP SALES FOR 2021 EXPECTED TO GROW BY A LOW-DOUBLE-DIGIT PERCENTAGE, WITH EBITDA LIKELY TO RISE BY 15 TO 25 PERCENT VERSUS LAST YEARMunich, April 30, 2021 - Wacker Chemie AG finished Q1 2021 with significant growth in sales and earnings. The Munich-based chemical company generated sales of €1,359.6 million in the reporting quarter. That was 14 percent higher than in the same period last year (€1,197.5 million). Relative to the preceding quarter (€1,239.2 million), sales were up 10 percent, chiefly due to high demand in nearly all divisions. Business in construction materials and polysilicon, for example, was especially strong. Higher prices, particularly for solar-grade polysilicon, also lifted sales. On the other hand, exchange-rate effects resulting from the weaker US dollar year over year slowed sales somewhat.In Q1 2021, WACKER posted EBITDA (earnings before interest, taxes, depreciation and amortization) of €246.4 million. That was 42 percent higher than in the same period last year (€174.1 million). Relative to the preceding quarter (€196.0 million), EBITDA climbed 26 percent. This strong growth stemmed from higher volumes and, in some segments, better prices, as well as from overall higher plant utilization rates. The Group's ongoing efficiency program reduced costs, which also had a positive impact on EBITDA. The company encountered headwinds, however, from markedly higher raw-material prices both year over year and quarter over quarter. The EBITDA margin for January through March 2021 was 18.1 percent, compared with 14.5 percent in the same period last year. In the prior quarter, the EBITDA margin was 15.8 percent.Group earnings before interest and taxes (EBIT) also rose markedly year over year due to the factors already mentioned, coming in at €154.9 million (Q1 2020: €69.8 million). This was more than double the year-earlier figure and corresponded to an EBIT margin of 11.4 percent (Q1 2020: 5.8 percent). Net income totaled €106.6 million in the reporting quarter (Q1 2020: €68.9 million), corresponding to earnings per share of €2.06 (Q1 2020: €1.31).WACKER revised upward the full-year 2021 forecast published in its Annual Report for 2020. Despite the continued risks connected with the coronavirus pandemic which are clearly evident in currently dynamic developments in India and Brazil, for example and even higher raw-material prices which are estimated to have a full-year impact of over €200 million, WACKER now expects to post somewhat stronger numbers than forecast at the beginning of the year. The company expects Group sales to exceed the previous year's figure of €4,692.2 million by a low-double-digit percentage. WACKER had previously expected sales growth in the mid-single-digit percentage range. According to current projections, EBITDA is likely to increase by 15 to 25 percent versus last year's figure (€666.3 million). The company had expected growth of 10 to 20 percent when presenting its 2020 Annual Report."WACKER performed very well in Q1 2021," CEO Rudolf Staudigl said in Munich on Friday. "The best defenses against the coronavirus pandemic have proven to be our strong strategic focus on specialty chemical products that provide high added value for our customers, our quality leadership for polysilicon and the expansion of our biotechnology business. In particular, demand for polysilicon for solar and semiconductor applications has been on a very positive trajectory in the past months. Higher prices for solar-grade polysilicon have also helped our business. We expect prices to remain stable in the coming months."The CEO was also positive about the chemical divisions, which struggled with higher raw-material prices in some cases: "In the silicones market there was strong demand for our products. Here we are benefiting in particular from our business in high-margin specialties, which we have been continuously expanding for several years. In the past months, we were able to achieve significantly higher volumes for polymer products, especially in Asia." Bioengineered products had also performed well, according to Staudigl: "In this area we benefited above all from strong demand for biopharmaceuticals."RegionsIn Q1 2021, WACKER's sales in the Americas decreased to €203.8 million, 12 percent less than the same quarter last year (€231.1 million). In Asia, on the other hand, Group sales increased 39 percent in the reporting quarter to €536.0 million (Q1 2020: €385.8 million). Sales in Europe totaled €546.4 million (Q1 2020: €520.9 million), up 5 percent.Capital Expenditures and Net Cash FlowIn Q1 2021, the Group's capital expenditures came in at €42.0 million (Q1 2020: €44.4 million), a decline of 5 percent year over year. The funds went primarily toward expanding capacities at the chemical divisions.Net cash flow increased to €131.1 million in Q1 2021 (Q1 2020: €22.6 million). This was due primarily to earnings growth.EmployeesWACKER's global workforce increased slightly in the reporting quarter. The Group had 14,332 employees on March 31, 2021 (Dec. 31, 2020: 14,283). At the end of the quarter, 10,041 employees (Dec. 31, 2020: 10,096) worked at WACKER sites in Germany and 4,291 (Dec. 31, 2020: 4,187) at international locations.Business DivisionsIn Q1 2021, WACKER SILICONES generated total sales of €612.8 million. That was 4 percent higher than in the same period last year (€590.0 million). Higher volumes and an improved product mix had a positive impact on sales. Compared with a quarter earlier (€573.3 million), the division's sales rose 7 percent. EBITDA at WACKER SILICONES reached €122.0 million in the reporting quarter, 3 percent higher than a year ago (€118.6 million). Relative to the preceding quarter (€110.6 million), EBITDA climbed 10 percent. Reporting-quarter earnings were lifted not only by high volumes, but also by very high plant utilization rates. The EBITDA margin for Q1 2021 was 19.9 percent, after 20.1 percent in Q1 2020 and 19.3 percent in the preceding quarter.Sales at WACKER POLYMERS totaled €350.1 million in the reporting quarter, 6 percent higher than a year earlier (€330.8 million). Higher volumes for dispersions and dispersible polymer powders, especially in Asia, were the main drivers of this growth. Sales were also up 6 percent relative to the preceding quarter (€329.8 million). The division's EBITDA came in at €49.5 million in Q1 2021, after €61.5 million a year earlier - a decline of 20 percent year over year. Higher raw-material prices were primarily responsible for this decrease. On the other hand, high plant utilization rates had a positive impact on EBITDA. Compared with the preceding quarter (€65.0 million), EBITDA decreased by 24 percent. Again, substantially higher raw-material prices were the main reason for this earnings decline. To counteract this trend, the business division raised its product prices worldwide in mid-March. The EBITDA margin was 14.1 percent in Q1 2021, after 18.6 percent a year earlier and 19.7 percent a quarter ago.WACKER BIOSOLUTIONS posted total sales of €67.7 million in Q1 2021, up 7 percent over a year earlier (€63.3 million). Compared with the preceding quarter (€62.7 million), sales increased 8 percent. Cyclodextrins, cysteine and biopharmaceuticals performed particularly well during the quarter. WACKER BIOSOLUTIONS posted EBITDA of €6.2 million in the reporting quarter, down 27 percent from a year earlier (€8.5 million). This decline was partly attributable to expenses for integrating the new biopharma site in San Diego that WACKER acquired in February, as well as start-up costs for vaccine production at WACKER's Amsterdam site. Compared with a quarter ago (€5.8 million), EBITDA increased 7 percent. The EBITDA margin was 9.2 percent, after 13.4 percent a year earlier and 9.3 percent in Q4 2020.WACKER POLYSILICON generated total sales of €298.3 million in the reporting quarter. That was 62 percent more than a year ago (€184.3 million) and 22 percent higher versus the preceding quarter (€244.1 million). This strong growth was due primarily to increased volumes and higher average selling prices for solar-grade polysilicon. Reporting-quarter EBITDA at WACKER POLYSILICON came in at €51.0 million. That was €64.7 million more than in the same period last year (€-13.7 million). This increase was due not only to significantly higher sales, but also to further progress in reducing the cost of goods sold. Compared with a quarter earlier (€45.5 million), EBITDA increased 12 percent. Positive volume and price effects were still dampened in the reporting quarter by the negative impact of inventory reduction. The division's EBITDA margin was 17.1 percent for January through March 2021, after -7.4 percent in Q1 2020 and 18.6 percent in Q4 2020.OutlookWACKER detailed its projections for the Group's performance this year in the Outlook section of its 2020 Annual Report. In view of the positive business trend in the first quarter and its current business performance, WACKER has raised its annual forecast for sales and EBITDA. It aims to lift its sales in 2021 by a low-double-digit percentage. WACKER had previously expected sales growth in the mid-single-digit percentage range. The Group's EBITDA is likely to rise 15 to 25 percent compared with 2020. When it presented its 2020 Annual Report, the company was expecting growth of 10 to 20 percent. The reasons for higher expectations are continued strong demand in nearly all product lines as well as the current positive trend in polysilicon prices. At the same time, however, even higher raw-material prices and negative exchange-rate effects are now likely to reduce full-year EBITDA by more than €200 million (previous forecast: more than €100 million). This has been factored into the current outlook. For all the other key financial performance indicators, the full-year forecast remains unchanged. Group net income is still expected to be substantially above last year's figure. Key Figures for the WACKER Group € million Q1 2021 Q1 2020 Change in % Sales 1,359.6 1,197.5 13.5 EBITDA 246.4 174.1 41.5 EBITDA margin (%) 18.1 14.5 - EBIT 154.9 69.8 >100 EBIT margin (%) 11.4 5.8 - Financial result -9.7 -12.0 -19.2 Income before income taxes 145.2 57.8 >100 Net income for the period 106.6 68.9 54.7 Earnings per share (€) 2.06 1.31 57.3 Capital expenditures 42.0 44.4 -5.4 Depreciation, amortization and impairments 91.5 104.3 -12.3 Net cash flow 131.1 22.6 >100 € million March 31, 2021 March 31, 2020 Dec. 31, 2020 Total assets 7,155.4 6,741.7 6,950.5 Equity 2,181.1 2,425.0 1,691.8 Equity ratio (%) 30.5 36.0 24.3 Financing liabilities 1,424.9 1,451.2 1,405.5 Net financial assets 44.8 -701.6 -67.5 Employees (number at end of period) 14,332 14,597 14,283 This press release contains forward-looking statements based on assumptions and estimates of WACKER's Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include, among other things, changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so. For further information, please contact:Wacker Chemie AGMedia Relations & InformationChristof BachmairTel. +49 89 6279-1830christof.bachmair@wacker.com30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de Language: English Company: Wacker Chemie AG Hanns-Seidel-Platz 4 81737 München Germany Phone: 0049-89-6279-1633 Fax: 0049-89-6279-2933 E-mail: investor.relations@wacker.com Internet: www.wacker.com ISIN: DE000WCH8881 WKN: WCH888 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1190624 End of News DGAP News Service
