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wacker chemie ag-unspon adr (WKCMY) Details

Wacker Chemie AG provides specialty chemical products worldwide. It operates through five divisions: WACKER SILICONES, WACKER POLYMERS, WACKER BIOSOLUTIONS, WACKER POLYSILICON, and Siltronic. The WACKER SILICONES division offers a portfolio of approximately 2,800 products ranging from silicone fluids and emulsions, resins, elastomers, and sealants, to silanes and pyrogenic silica grades, which are used as starting materials in the production of silicones. The WACKER POLYMERS division manufactures binders and polymeric additives, such as dispersible polymer powders and dispersions used in various industrial applications, or as base chemicals in paints, coatings, paper, and adhesives industries, as well as in the construction industry. The WACKER BIOSOLUTIONS division supplies customized biotech and catalog products for fine chemical sector, including pharmaceutical proteins, cyclodextrins, cysteine, polyvinyl acetate solid resins, organic intermediates, and acetylacetone. This division focuses on customer-specific solutions in the areas of food additives, pharmaceutical actives, and agrochemicals. The WACKER POLYSILICON division produces hyperpure polysilicon for the semiconductor, electronics, and solar sectors. The Siltronic division supplies silicon wafers for various semiconductor manufacturers that are used as raw materials for various semiconductor products, including discrete semiconductor components or microchips. The company was founded in 1914 and is headquartered in Munich, Germany.

16,758 Employees
Last Reported Date: 08/1/14
Founded in 1914

wacker chemie ag-unspon adr (WKCMY) Top Compensated Officers

Chief Executive Officer, President and Member...
Total Annual Compensation: €1.4M
Chief Financial Officer and Member of Executi...
Total Annual Compensation: €1.1M
Member of Executive Board
Total Annual Compensation: €1.1M
Member of the Executive Board
Total Annual Compensation: €682.3K
Compensation as of Fiscal Year 2013.

wacker chemie ag-unspon adr (WKCMY) Key Developments

Wacker Chemie AG Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Year 2014

Wacker Chemie AG reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of EUR 1,242.3 million against EUR 1,150.3 million a year ago. EBITDA was EUR 229.5 million against EUR 188.2 million a year ago. EBIT was EUR 82.1 million against EUR 52.5 million a year ago. Income before taxes was EUR 59.1 million against EUR 31.4 million a year ago. Net income for the period was EUR 29.4 million against EUR 15.1 million a year ago. Earnings per share were EUR 0.64 against EUR 0.27 per share a year ago. Net debt at the end of 2014 should be about EUR 300 million higher than at the end of last year, with the increase relating to the integration of the Singapore joint venture and reduction of prepayments. For the six months, the company reported sales of EUR 2,399.7 million against EUR 2,226.6 million a year ago. EBITDA was EUR 514.7 million against EUR 352.7 million a year ago. EBIT was EUR 215.9 million against EUR 84.7 million a year ago. Income before taxes was EUR 169.2 million against EUR 49.0 million a year ago. Net income for the period was EUR 93.6 million against EUR 20.2 million a year ago. Earnings per share were EUR 1.99 against EUR 0.36 per share a year ago. For the year 2014, the company continues to expect its full-year 2014 sales to rise by a mid-single-digit percentage. As for EBITDA, the company now expects to achieve a substantial increase of at least one third, which will also considerably improve the EBITDA margin. The EBITDA trend will be markedly influenced by special-income items from polysilicon business. Investments will edge up year on year, reaching about EUR 550 million. The company aims to achieve a positive net cash flow. Net financial debt will climb by about EUR 300 million. Group net income is expected to be higher than the previous year. The company announced depreciation, next year, should stay at about EUR 600 million, as the company’s depreciation in Singapore declines and new assets in Tennessee starts depreciation. Tax rate expectation remains for the full year at over 50%, as nontax deductible losses in foreign operations weigh on profit before tax. The company increased guidance for the group, now to over EUR 900 million in EBITDA for the full year 2014, which means at least 1/3 higher than last year's number.

Wacker Chemie AG Revised Earnings Guidance for 2014

Wacker Chemie AG revised earnings guidance for 2014. EBITDA for 2014 is now projected to be at least one third higher than last year's EUR 678.7 million. Before this upgrade, the company had expected to surpass its 2013 EBITDA by at least 10%. The upward revision is based on good business performance and strong demand, especially at WACKER POLYSILICON, and success at reducing costs. Furthermore, The company expects additional special income from its polysilicon activities in the third quarter of 2014. The company has terminated or restructured contracts with solar-sector customers. As a result, WACKER's financial statements for the third quarter of 2014 will recognize special income from retained advance payments and damages received that will increase EBITDA and EBIT at WACKER POLYSILICON and within the Group by some EUR 90 million. WACKER already posted a similar special-income item of EUR 114 million in the first quarter of 2014. Consequently, the company anticipates from present perspective that retained advance payments and damages received, arising from terminated contracts with polysilicon customers, will improve full-year EBITDA by a total of some EUR 210 million.

Wacker Chemie AG, Q2 2014 Earnings Call, Aug 01, 2014

Wacker Chemie AG, Q2 2014 Earnings Call, Aug 01, 2014


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Valuation WKCMY Industry Range
Price/Earnings 51.2x
Price/Sales 0.9x
Price/Book 2.1x
Price/Cash Flow 53.8x
TEV/Sales 0.6x

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