Wacker Chemie reports revenue of €1,346 million in the third Quarter
Post date: 27/10/2016 - 18:28
German chemical company Wacker Chemie AG recorded a slight decrease in revenue in the third Quarter 2016 by 1%. Total group revenue reached €1,346 million ($1,467 million), compared to €1,358 million in Q3 2015. According to the company, the decrease was chiefly due to lower year-over-year prices for solar silicon, semiconductor wafers and some chemical products. Generally higher volumes did not fully offset these price effects. Relative to the preceding quarter (€1,386 million), sales were down by 3 percent, primarily due to a decline in volumes for polysilicon and some chemical products. Net income for the reporting quarter amounted to €67 million (Q3 2015: €58 million).
Wacker’s Polysilicon business division generated sales totaling €253 million in the reporting quarter, down 7 percent over both last year (€271 million) and the preceding quarter (€272 million). Volumes remained almost unchanged versus last year, while average prices for solar silicon were lower. Compared with the preceding quarter, volumes slowed substantially because customers ordered less solar silicon toward the end of the reporting quarter.
Wacker expects its chemical-business sales to increase slightly for full-year 2016, whereas sales at the solar division is likely to edge down.