Wacker Polysilicon increases sales by 61 percent

Wacker Polysilicon, the polysilicon division of Munich, Germany-based chemicals group Wacker Chemie AG, posted sales of €568.2 million ($578.5 million) in the second quarter of this year, up 61 percent from the same quarter last year and eight percent from the first quarter of 2022. For the first half of 2022 (€1.094 billion; $1.114 billion), sales even rose almost 68 percent year on year. According to the company, »significantly higher average prices for solar-grade silicon« were the main factor behind this increase, which was achieved despite a slight decline in sales volumes. Prices for semiconductor-grade silicon also rose.
On the other hand, higher energy and raw material prices had a dampening effect on sales and profit margins. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter amounted to €213.8 million ($217.7 million), 44 percent higher than in the same period last year, but five percent lower than in the first quarter. The EBITDA margin (EBITDA as a percentage of sales) was 37.6 percent in the second quarter, compared to 42.1 percent in the same period last year and 42.7 percent in the first quarter.
The Group as a whole recorded the highest quarterly revenue in the company’s history at €2.174 billion ($2.213 billion), 45 percent above Q2 2021 and five percent above Q1 2022. EBITDA was €625.8 million, 95 percent higher than in Q2 2022 and 2.8 percent lower than in Q1 2022. Wacker Chemie has raised its full-year revenue forecast from the previous €7.5 billion to €8.0 to €8.5 billion, while expectations for EBITDA are €1.8 to €2.3 billion (previously €1.2 to €1.5 billion).

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