Wacker Chemie has presented its sales figures for 2008, showing an increase in full-year sales of 14% over 2007’s figure. Despite a slow fourth quarter for the company, it managed to boost its sales from €3.78 billion in 2007 to €4.3 billion in 2008. The company’s balance of cash and cash equivalents was almost €100m at year-end 2008.
The Munich-based company also saw earnings before interest, taxes, depreciation and amortization (EBITDA) rise year-on-year from €1 billion in 2007 to €1.05billion, resulting in a full-year EBITDA margin of 24.5 percent. EBITDA for the fourth quarter was €120m, down from €205.3m in Q4 2007. This was a result of poor volumes at the group’s chemical divisions and at Siltronic, where weaker prices affected profits.
“We managed to meet our sales and earnings targets for 2008 despite the tough fourth quarter,” said CEO Rudolf Staudigl. “Our balance-sheet figures are completely sound. So, we see ourselves well equipped to meet the challenges of the current fiscal year.”