WACKER’s President & CEO, Christian Hartel, highlighted the projections outlined in the 2023 Annual Report during his address. The company anticipates sales for the current year to range between €6 billion and €6.5 billion, with Group EBITDA expected to fall between €600 million and €800 million. Hartel noted a recent uptick in customer inventory restocking, particularly in silicones demand, yet cautioned against interpreting this as a definitive indication of a sustained market shift. He underscored the continued challenges facing the chemical industry, and consequently, WACKER’s operations.
In response to the prevailing market dynamics, WACKER is implementing rigorous cost-saving measures and efficiency enhancements. Hartel affirmed their focus on scrutinizing non-personnel expenditures, judiciously approaching new hires, and optimizing operational efficiency.
Simultaneously, Hartel expressed confidence in WACKER’s strategic trajectory, aligning with forthcoming megatrends such as electromobility, energy transition, digitalization, and health and nutrition. He highlighted ongoing initiatives aimed at bolstering market presence, including the establishment of an mRNA center of competence in Halle, construction of a silicon specialties facility in Karlovy Vary, Czech Republic, and expansion of semiconductor-grade polysilicon production in Burghausen.
Despite current challenges, WACKER remains steadfast in its long-term objectives, aiming for sales to surpass €10 billion by 2030 while enhancing profitability, with an EBITDA margin exceeding 20 percent and aiming for capital employed to yield twice its cost of capital.
During the Annual Shareholders’ Meeting, shareholders participated remotely via live video, with 41,519,517 voting shares represented, constituting 79.61 percent of eligible shares.
For more detailed information and voting outcomes from the Annual Shareholders’ Meeting, visit www.wacker.com under Investor Relations.
This press release contains forward-looking statements reflecting WACKER’s Executive Board’s assumptions and estimates. While these expectations are deemed realistic, they are subject to inherent risks and uncertainties that may lead to actual results differing significantly. Such factors include changes in the economic landscape, fluctuating exchange and interest rates, market competition, product acceptance, and shifts in corporate strategy. WACKER does not intend to update these forward-looking statements and assumes no obligation to do so.
