Full year forecast of over €5bn in sales for 2011 reaffirmed
Wacker Chemie AG increased its sales and earnings in Q2 2011 compared with the same period last year and says it is well on track to achieve its full-year targets.
Q2 2011 sales at the Munich-based chemical company climbed 10% to €1.33bn, thanks primarily to higher sales volumes generated by sustained customer demand. Net income for the quarter was €143m.
In the silicones and polymers segments, the company says it was in some cases able to negotiate higher prices in the market. By contrast, the sales trend was held back by currency exchange-rate effects, primarily due to the weaker US dollar.
Overall, Wacker has reaffirmed its full-year guidance that 2011’s sales will exceed €5bn. It currently anticipates that EBITDA will be above last year’s figure of €1.19bn.