Wacker Chemie is less worried about gas supplies
At Wacker Chemie, concerns about major bottlenecks in the gas supply for energy-intensive production in winter are easing. The Munich-based specialty chemicals group had planned additional costs of EUR 200 to 250 million for this this year. “In view of the high levels in German gas storage facilities, the company assesses the risk of major bottlenecks in the gas supply for its own production as low,” Wacker Chemie said on Thursday. Of the operating profit (Ebitda) will therefore 2.1 to 2.3 (previous year: 1.54) billion euros in the upper half of the range mentioned in July (1.8 to 2.3 billion). Additional costs for energy, raw materials and logistics will still add up to 1.3 to 1.4 (previously 1.5) billion euros in the current year.
The management also cited the high polysilicon prices as a reason for the growing confidence. The silicon is used both for semiconductors and in photovoltaics. In the third quarter, the division alone contributed 42 percent to the Group’s Ebitda, which rose by two percent to 457 million euros.
Of the Sales volume jumped 29 percent thanks to higher prices 2.13 billion euros, although demand is gradually crumbling. For the year as a whole, the Management Board continues to expect one Sales of 8.0 to 8.5 (2021: 6.2) billion euros. CEO Christian Hartel warned that Wacker Chemie will not be able to fully escape the expected recession in Europe either: “Since the summer we have been registering a decline in incoming orders in some user sectors, especially in the construction industry. I assume that this will development will continue in the fourth quarter and beyond the turn of the year.”