Wacker expects record sales and earnings for 2007
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According to its preliminary business results for fiscal 2007, Wacker Chemie AG saw another record year in terms of sales and earnings. The Munich-based chemical company boosted its sales by 13 percent to EUR3.78bn (2006: EUR3.34bn), thanks chiefly to volume gains and higher product prices.
Earnings growth was double that of sales despite negative exchange-rate effects. EBITDA (earnings before interest, tax, deprecation and amortization) reached EUR1bn (2006: EUR786.3m), up 27 percent. The EBITDA margin was 26.5 percent (2006: 23.6 percent). In Q4 2007, WACKER's sales and EBITDA were significantly higher than in the comparable prior-year quarter. Earnings per share for 2007 are expected to come in at about EUR8.50 based on a tax rate of some 33 percent. In 2006, earnings per share outstanding reached EUR6.46 at a tax rate of 25 percent.
"In 2007, we achieved a return on capital employed of over 25 percent, which places us among the best in the chemical sector," said Group CEO Peter-Alexander Wacker. "Demand for our products remains strong, fueled by global growth trends - energy efficiency, climate change, the progressive digitalization of our lives and the increasing prosperity of emerging economies. We consider strong demand to be a key factor driving our ability to continue outpacing world GDP growth."
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