WACKER CHEMIE expects better operating earnings and sales than expected for the first quarter, primarily due to advance customer orders due to the conflict in the Middle East.
The SDAX group is also raising its sales expectations for the year as a whole.
WACKER CHEMIE AG now expects EBITDA of around 173 million euros on sales of around 1.41 billion euros. Analysts’ consensus from Vara Research had expected EBITDA of 146 million euros. In March, the group had previously forecast a decline in sales for the first quarter compared to the same quarter of the previous year to around 1.35 billion euros and an EBITDA of between 140 to 160 million euros.
As WACKER CHEMIE further announced, due to the existing uncertainties and the volatile order intake, the EBITDA forecast for the full year remains unchanged in the range of 550 to 700 million euros. In terms of sales, WACKER CHEMIE now expects growth in the high single-digit percentage range for the year as a whole instead of a low single-digit percentage range. According to WACKER CHEMIE, the reason for this is the passing on to customers of increased raw material and energy prices due to the conflict in the Middle East. The company will publish its first quarter results on April 29th.
In after-hours trading on Friday on Tradegate, WACKER-CHEMIE shares were temporarily at 95.50 euros, 2.58 percent above their XETRA close.
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