Wacker fiscal 2022: New highs for sales and earnings

Wacker's total sales are 32 percent higher than in 2021 (€6.21 billion). The main reason for the year-on-year increase was higher prices. Effects from exchange rate movements due to the stronger US dollar also had a positive impact on sales. By contrast, slightly lower volumes overall compared with the previous year held back sales growth. According to the preliminary figures, consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) for fiscal 2022 amounted to €2.09 billion (2021: €1.54 billion). This is an increase of 35 percent. In addition to higher prices, savings from the Group's ongoing efficiency programs also had a positive impact on earnings development in the operating business. By contrast, the sharp rise in energy, raw material and logistics costs reduced EBITDA by around €1.3 billion year-on-year. Due to the effects described above, earnings before interest and taxes (EBIT) grew by 49 percent to around €1.69 billion (2021: €1.13 billion). Depreciation and amortization amounted to around €400 million, on a par with the previous year (€404 million). Net income in 2022 amounts to around €1.29 billion (2021: €828 million).

"All our business units contributed to last year's strong sales growth," said Group CEO Christian Hartel. "It is true that demand in individual customer industries slowed noticeably in the second half of the year. At the same time, however, we achieved significantly better prices for our products than in 2021. This also helped us to compensate for the sharp rise in costs, especially for energy, but also for raw materials and logistics." Looking at the current business trend, Hartel was cautious: "We are now feeling the effects of the weakening economy on our customers' ordering behavior in numerous application areas. We are seeing signs of a slowdown in the construction business in particular, but also in silicones for other sectors. In general, many customers are reducing their inventories and remain cautious for the time being, even if they expect demand to pick up in the course of the year."