Wacker Chemie reported its strongest quarter of polysilicon sales since 2012.
Major polysilicon producer Wacker Chemie reported its strongest quarter of polysilicon sales since 2012, due to volume growth as the solar industry sets to reach a global end market demand of around 100GW.
Wacker reported third quarter 2017 polysilicon segment sales of €341.7 million, up 35% from the prior year period and the highest since the first quarter of 2012. Sales were also 35% higher than those reported in the previous quarter.
EBITDA amounted to €85.0 million, compared with €82.3 million in the prior year period and was 19% higher than the previous quarter.
However, EBITDA margins continue to come under pressure, which were 24.9% in the third quarter of 2017, down from 28.9% in the previous quarter and down from 32.5% in the prior year period. Product-mix and inventory effects dampened the EBITDA margin, according to the company.
“At WACKER, the third quarter was the most successful so far this year,” said Group CEO Rudolf Staudigl in Munich on Thursday. “Demand for silicones and polysilicon was especially strong, with the two divisions posting news volume records.”
However, management noted that an unexplained hydrogen explosion fire in September at its recently completed polysilicon plant in Charleston, Tennessee, which damaged the facility, would mean several more months of complete production halt that would impact overall sales.