Wacker Chemie posts sales and earnings records in 2022 amid strong polysilicon demand

Facebook
Twitter
LinkedIn
Reddit
Email
Wacker’s polysilicon division benefited from “particularly good prices for solar-grade silicon”, it said in a statement. Image: Wacker.

German chemical group Wacker Chemie posted new sales and earnings records in 2022 as the polysilicon division benefited from strong demand and higher prices.

With sales reaching €2.28 billion (US$2.47 billion) in 2022, the polysilicon business division increased its annual sales by 49% year-on-year. Overall, the company reached record sales of €8.2 billion in 2022.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Wacker’s polysilicon division benefited from “particularly good prices for solar-grade silicon” it said in a statement, with prices for electronic-grade also rising year-over-year and the share of the product in total sales volume growing further.

The division increased its earnings before interest, taxes, depreciation and amortisation (EBITDA) by 25% to €820 million (US$732 million), from €655 million in 2021.

“All of our business divisions contributed to last year’s strong sales growth,” said Wacker Chemie CEO Christian Hartel. “Although demand slowed noticeably in some customer sectors in the second half of the year, we achieved substantially higher prices for our products than in 2021. That also helped us to offset sharp cost increases, especially for energy, but also for raw materials and logistics.”

The polysilicon manufacturer was among a list of PV industry stakeholders calling the EU for measures to support a competitive domestic European upstream solar PV value chain earlier this year.

While Wacker mainly produces polysilicon in Germany and to a lesser extent in the US, most of the material is shipped to Asia, as reported by PV Tech Premium last year.

Overall, the group’s EBITDA reached €2.09 billion in 2022, a 35% increase from the €1.54 billion recorded in 2021, with its operating performance lifted by higher prices and ongoing efficiency measures, Wacker said.

However, inventory drawdowns by customers in Q4 had a noticeable effect on the German chemical group’s sales and earnings, which was most notable in the silicones segment, according to Hartel, adding that China’s domestic demand was below its potential due to pandemic-related restrictions.

“In numerous application areas, the weakening economy is already affecting customer order trends. We see signs of a slowdown, particularly in the construction industry, but also with silicones in other industries. In general, many customers are running down their inventories and currently remain cautious, even though they expect demand to pick up again in the course of the year,” said Hartel about current trading conditions.

Read Next

September 4, 2025
US polysilicon company Highland Materials has aimed to begin construction at its polysilicon plant in the second half of 2026.
Premium
September 4, 2025
PV Talk: Highland Materials' CEO Richard Rast explains how the company aims to compete in the polysilicon landscape through US innovation.
September 3, 2025
LONGi, Jinko Solar, Trina Solar and JA Solar posted combined net losses of nearly RMB11 billion (US$1.54 billion) in H1 2025.
August 28, 2025
JinkoSolar has sold 41.8GW of PV modules in the first half of the year, despite growing financial losses for its manufacturing subsidiary.
Premium
August 27, 2025
American Clean Power Association’s MJ Shiao assesses the state of US PV manufacturing in the wake of recent policy developments.
August 26, 2025
Daqo New Energy has posted gross losses of US$81.4 million in Q2 2025, up from losses of US$81.5 million in Q1.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines