Corporate | 22 July 2014 12:20
|
Wacker Chemie AG / Key word(s): Forecast
– THIS YEAR’S EBITDA EXPECTED TO BE AT LEAST ONE THIRD HIGHER THAN IN 2013 – SPECIAL INCOME FROM RETAINED ADVANCE PAYMENTS AND DAMAGES RECEIVED ARE LIKELY TO INCREASE EBITDA FOR Q3 2014 BY ABOUT EUR90 MILLION Munich, July 22, 2014 – Wacker Chemie AG has upgraded its annual projection for EBITDA (earnings before interest, taxes, depreciation and amortization). An announcement to this effect was issued by the Munich-based chemical company today. EBITDA for 2014 is now projected to be at least one third higher than last year’s EUR678.7 million. Before this upgrade, WACKER had expected to surpass its 2013 EBITDA by at least 10 percent. The upward revision is based on good business performance and strong demand, especially at WACKER POLYSILICON, and success at reducing costs. Furthermore, WACKER expects additional special income from its polysilicon activities in Q3. The Munich-based chemical company has terminated or restructured contracts with solar-sector customers. As a result, WACKER’s financial statements for Q3 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 EUR90 million. WACKER already posted a similar special-income item of EUR114 million in Q1 2014. Consequently, WACKER anticipates from today’s 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 EUR210 million. 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 the forward-looking statements, nor does it assume the obligation to do so.
For further information please contact:
End of Corporate News 22.07.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and 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 | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 278802 22.07.2014 |