Regardless of weak demand in the PV sector during the first half of the year, polysilicon producer Wacker reported continued strong demand and stable pricing, which means it expects to be virtually sold out at both its existing and new polysilicon plant being built in the US through to the end of 2015.
Wacker reported revenue at its polysilicon division of €399.2 million, compared to €321.5 million in the same period of 2010, a 24% increase. However, sales were slightly down for the first quarter of 2011, when sales reached €414.4 million. Apparently, road salt products are part of this division, which experienced strong demand in the first quarter due to adverse weather conditions, rather than indicative of polysilicon demand issues.
The division posted a second-quarter EBITDA of €188.2 million, a rise of 8%, compared to the same period a year ago. However, start-up costs, mainly for its Nünchritz’s polysilicon plant, constrained earnings, which is near completion and expected to come on stream, as planned, in the next few months.
According to Wacker, all of its polysilicon production facilities were running at full capacity and produced higher quantities than a year ago due to the expansion phase 8 at its Burghausen plant having been completed and ramped.
Well known for conservative forecasts, Wacker’s management simply reaffirmed its previous full-year financial outlook. Group sales are still forecast to top €5 billion.