Wacker expected fiscal year 2015 will continue to grow-Iota

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Service > Wacker expected fiscal year 2015 will continue to grow

Wacker expected fiscal year 2015 will continue to grow

Munich, March 17, 2015 - As previously announced, Wacker Chemie AG's 2014 fiscal year sales and profits have increased significantly. Munich-based WACKER Group today announced at the time of publishing the annual report, in 2014 the Group achieved sales of 4.83 billion euros, about 8 percent higher than last year (4.48 billion euros); the business sector are to achieve sales growth, as well as polysilicon The sales price increase is mainly due to growth. Interest Group for fiscal year 2014 WACKER, taxes, depreciation and amortization Earnings before (EBITDA) of € 1,042,300,000 (previous year: € 678.8 million), and last year an increase of nearly 54%. EBITDA margin increased significantly from 15.2% to 21.6%.
The profits leap on a number of reasons: WACKER products, especially the price of polysilicon, and some chemical products business branch of the overall increase in fiscal year; productivity programs, measures to reduce energy consumption and an increase in the production capacity of the Group savings about 200 million euros of spending, Siltronic silicon Pte Ltd (Siltronic Silicon Wafer Pte. Ltd.) for the first time Naruwake Group Siltronic had a positive impact. WACKER POLYSILICON terminated or restructured contracts with photovoltaic industry customers, so the corresponding payment and compensation for acquired businesses brought 206.3 million euros in revenue (previous year: € 077.6 million). If you remove this exceptional gain, WACKER 2014 fiscal year was € 836 million EBITDA (last year the corresponding value: € 601.1 million), compared with last year increased by 39%, EBITDA margin was 17.3%, therefore.
Group achieved EBIT (EBIT) 4.433 billion euros in 2014 12 months, nearly four times last year (114.3 million euros) in. WACKER's 2014 fiscal year gross profit 195.4 million euros, compared with last year (006.3 million euros) increased by about 189 million euros. The first two months of this year, the market demand for WACKER products fairly stable, the business sector in sales during this period were higher than the corresponding value of the previous year. Group sales in the first quarter of 2015 is expected to reach around 1.3 billion euros (first quarter 2014: € 1.16 billion).
Wacker expected, Group sales in the year 2015 and EBITDA after removing all special benefits will be higher than last year, with sales growth of up to 1-9% of the high number of sales and sales of business units were higher than in 2014. Group interest, taxes, depreciation and amortization before (EBITDA) profit after special damages and removal of supply contracts obtained updated, the corresponding value will be slightly higher than last year. Group earnings due to special year-end profits will decrease and the rate is slightly higher than 50% but less than 2014 levels.
Dr. Rudolf Shi Tao Digby Group President and CEO on Tuesday in Munich, said: "I am convinced that 2015 will be good in terms of Wacker year we have the will to continue to maintain the growth trend of the previous year, and. the company's history and create sales topped € 5 billion mark for the record. This year, we have a new production base is located in Tennessee will be put into polysilicon production. By this date the largest single investment, Wacker will achieve an important initial objectives, namely: to have their own integrated production base in all major regions of the world that our future strategic development of great significance. "
Investment
WACKER's 2014 fiscal year amounted to 572.2 million euros investment, factors affected the project, over the previous year (€ 503.7 million) increased by nearly 14%. WACKER's investment last year still, Tennessee Charleston (Charleston) new polysilicon production base construction as the focus, in 2014 for this project investment of about 310 million euros, accounting for more than half of annual investment. Production base of construction work in the previous fiscal year continued according to plan, the second half of 2015 is expected to go into production.
Another focus of investment in 2014, WACKER is a polymer and silicone products production capacity expansion. Wacker Burghausen in a new redispersible powder production line with an annual output of 50,000 tons will be put into operation in the coming weeks. Wacker also a modified silicone product line was expanded Burghausen; modified silicone intermediate materials for this production and use of silicone is applied to fluids, emulsions, resins and a series of final products. Wacker Polymer production base in Nanjing, China, a new annual capacity of 20,000 tons of polyvinyl acetate solid resins production line has been put into production, and installation of a new emulsion reactor for existing production lines Calvert City in the United States, after the expansion its annual capacity increase of 8.5 million tons. The device is scheduled to be put into use this year.
Staff
2014, the number of our employees increased by about 700. As of December 31, 2014 balance sheet date, WACKER Group employs 16,703 people worldwide (as of December 31, 2013: 16,009 people), an increase of 4.3 percent over the previous year. Wacker Siltronic Singapore to get Samsung chips majority stake in the joint venture, as well as the acquisition of the German city of Halle Scil Proteins Production Company is the main reason for this growth. To calculate the cut-off date, WACKER employees in Germany for 12,366 people, 4,337 were foreign staff (previous year 12,322 people and 3,687 people each).
Net cash flow, net financial liabilities and shareholders' equity
Wacker net cash flow in fiscal year 2014 compared with the previous year nearly doubled, amounting to 215.7 million euros (previous year: € 109.7 million); year profit increase is the main reason for this growth. Net financial debt is higher than the previous year, as expected, as of the settlement date of the annual report for the € 1,080,600,000 (as of December 31, 2013: € 792.2 million), an increase amounted to 288.4 million euros, the growth rate was lower than expected in early 2014 .
WACKER fiscal year on asset / liability balances grew 10%, as of December 31, 2014 amounted to 6.95 billion euros (as of December 31, 2013: € 6.33 billion); the main reason for the exchange-rate benefit, and tangible fixed assets and an increase in accounts receivable. As at the balance sheet date the annual report, the Group shareholders' equity was € 1.95 billion (as of December 31, 2013: € 2.2 billion); the main reason for the decline is due to the retirement reserve discount rate decreased and increased. Equity ratio was 28.0% (as of December 31, 2013: 34.7%).
Business
Wacker Silicones business unit 2014 sales improved nearly 4 percent to 1.73 billion euros (previous year: € 1.67 billion). Increase in sales, as well as the combined effect of a good product is the primary cause of this growth. EBITDA is lower than last year, for 209.8 million euros, compared with last year (230.2 million euros) was reduced by about 9%. The main cause of decline in performance is obtained by a special gain last year: the business sector in 2013 due to the lifting of the reserves in the past and taking into account the loss of Dow Corning joint venture in China may face established, resulting in an increase in 2013 EBITDA about 14 million euros. Moreover, especially in early 2014 sales price also fell slightly inhibited the growth performance.
WACKER POLYMERS sales in fiscal 2014 increased significantly, achieving 1.06 billion euros, with the previous year (€ 978.7 million) an increase of nearly 9%. Dispersions and dispersible polymer powders increased sales, as well as a slight increase in prices is the main reason here. The business unit to achieve EBITDA 1.495 billion euros, slightly higher than last year (147.8 million euros) levels. Vinyl acetate monomer raw material prices inhibit growth performance.
Sales Wacker Biotech business unit to achieve significant growth, reaching 176.2 million euros, 11% higher than the previous year (158.4 million euros). Earnings growth in 2014 was mainly due to the German city of Halle Scil Proteins Production Co. for the first time included, as well as sales and prices increase. Business departments to achieve EBITDA 2360 million euros, with the previous year (23.6 million euros) flat.
WACKER POLYSILICON sales in fiscal 2014 increased substantially, to achieve 1.05 billion euros, compared with the previous year (€ 924.2 million) an increase of nearly 14% increase in sales, the main reason for the price increase. The division last year, total sales of 51,000 tons of polysilicon (previous year: 49,000 tons). EBITDA to achieve 537 million euros, more than double last year (233.9 million euros) and more. Polysilicon prices increased and a number of special benefits to promote business growth: business agreement last year to lift and adjust signed with customers received a total of 206.3 million euros in advances and indemnity (previous year: € 077.6 million).
Siltronic sales in fiscal 2014 were significantly higher than last year, amounting to 853.4 million euros, a 15% increase over the previous year (743 million euros). The primary reason for this is that the growth performance in the first quarter of 2014 Siltronic Wafer Pte Ltd for the first time included. Low sales prices, the exchange rate effect of poor sales suppressed more rapid progress. Wafer sales have raised all kinds of diameter, 300 mm wafers growth plus. EBITDA to achieve 114 million euros, higher than last year (026.5 million euros), the primary reason for this growth is the Siltronic silicon company fully consolidated.
Profit distribution proposal
French settlement on the basis of trade, Wacker Chemie AG's 2014 surplus assets and liabilities for 960.5 million euros. The Board and the Supervisory Board recommend to the Annual General Meeting, the stock dividend as € 1.50 per share (previous year: € 0.50). Press Up to December 31, 2014 have qualified stock dividend calculation, the total cash dividend of € 74.5 million; according to the average stock market price calculation Wacker Chemie AG, 2014 dividend yield of 1.7%.
Preview
Economic industry experts predict that in 2015 the global economy will continue to grow, driven by one of the largest in Asia. The US economy will continue to maintain steady growth, the European economy, according to market experts also will recover this year. However, the global economy will ultimately depend on the geopolitical risks of inhibition. Given the appeal statement, WACKER expects the world economy to grow.
WACKER expects sales and sales in 2015 will increase both the polysilicon business, the PV market is expected to continue to grow, however, the entire value chain of the photovoltaic industry overcapacity remains a problem. WACKER will continue to further reduce the production cost of polysilicon as the focus. The second half of 2015, in Charleston, Tenn new polysilicon production base can be put into operation. WACKER expects earnings resulting prepayments and reparations special WACKER POLYSILICON will be lower than last year, EBITDA will therefore significantly reduced, Charleston start-up costs of new production base will also inhibit the growth of EBITDA.
WACKER expects sales in 2015 will grow in the semiconductor business. Compared with last year, sales increased slightly, mainly due to favorable currency exchange rate will be. WACKER expects 300 mm wafers market will continue to grow, the demand for 200 mm wafers stable, while demand for smaller diameter wafers will decline slightly, EBITDA than last year have increased significantly.
Wacker think its chemical division in 2015 is likely to achieve further growth. Wacker Silicones business unit sales will increase substantially this sales growth will be reflected in the Wacker Silicones under the various business units, EBITDA will be significantly higher than last year. WACKER POLYMERS is determined to a substantial increase in sales. Emulsions and redispersible powder business will make an important contribution to this growth. The division's EBITDA is expected to significantly exceed the previous year's level. Wacker Biotech business unit expected sales will grow substantially. Completion of the integration of Harley City Scil Proteins Production Co. makes this business gained in the field of pharmaceutical proteins continued growth potential, its food businesses will also be due to the development of new products and achieve substantial growth in sales. The division's EBITDA WACKER and last year there will be significantly improved compared.
WACKER Group expects fiscal year 2015 sales growth of up to 1-9% of the high number, interest, taxes, depreciation and amortization Earnings before (EBITDA) slightly higher than last year the corresponding values in particular will remove income, EBITDA margins will decline, mainly due to Charleston, Tennessee created a new production base in start-up costs. Investment will be higher than last year 2015, approximately 700 million euros, all types of depreciation will be about 625 million euros, slightly higher than the previous year's level. Wacker expected net cash flows will be a slight increase in net financial liabilities will be mainly due to investments in Tennessee increased 2-300000000 euros. Group's year-end profit is expected to be lower than last year.

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