Wacker reports strong rise in polysilicon sales in Q3
Post date: 29/10/2021 - 16:24
German Wacker Chemie AG closed Q3 2021 with strong growth in sales and earnings across all business segments. Group sales rose 40 percent year-on-year to €1,658 million ($1,923 million). Volumes had »grown significantly in all major customer industries.« Consolidated sales for the first nine months of the current fiscal year totaled €4,519 million ($5,243 million), an increase of 31 percent compared to the previous year. Net profit for the quarter under review amounted to €248 million ($287 million; Q3 2020: €67.7 million).
According to Group CEO Christian Hartel, the polysilicon business in particular »has developed very well in recent months.« The expansion of photovoltaics is picking up speed worldwide. This is boosting demand, he said, adding to a rise in the price of solar silicon. The Polysilicon business unit generated total sales of €408.9 million ($474 million) in the quarter under review. This is 94 percent more than in the previous year (€211.3 million). Compared to the previous quarter (€352.9 million), sales increased by 16 percent.
Wacker has adjusted its sales and earnings expectations upward and now expects full-year sales of around €6 billion in 2021 (2020: €4.69 billion). Reasons include »sustained high polysilicon prices.«