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On March 16, 2021, the Munich-based chemical group WACKER announced in its annual report that it achieved sales of 4.
69 billion euros in 2020 (2019: 4.
93 billion euros), a decrease of 5% year-on-year
.
According to preliminary data, WACKER’s earnings before interest, taxes, depreciation and amortization (EBITDA) in fiscal 2020 were 666.
3 million euros (2019: 783.
4 million euros), down 15 percent year-on-year, with an EBITDA margin of 14.
2 percent (2019: 783.
4 million euros).
15.
9%)
.
The WACKER Group posted earnings before interest and taxes (EBIT) of 262.
8 million euros in 2020 (2019: -536.
3 million euros), representing an EBIT margin of 5.
6 percent (2019: -10.
9 percent)
.
Despite the risks and pressures of the COVID-19 pandemic, WACKER expects growth in fiscal 2021, targeting a mid-single-digit percentage increase in sales
.
In response, WACKER President and Chief Executive Officer Dr.
Stuart Stuart said, "In view of the impact of the new crown epidemic, we are cautiously optimistic about the outlook for the 2021 fiscal year
.
He went on to add that the project saved the company a lot of non-labor costs last year, increasing profits by more than 50 million euros
.
Investments, Net Cash Flows and Net Financial Liabilities
Investments, Net Cash Flows and Net Financial LiabilitiesAccording to preliminary figures, WACKER invested a total of 224.
4 million euros in fiscal 2020 (2019: 379.
5 million euros), a decrease of 41 percent year-on-year
.
The group's net cash flow in fiscal 2020 totaled approximately EUR 700 million (2019: EUR 184 million), which is almost four times the previous year's level
.
business unit
business unitWACKER's chemical business developed differently in each market segment in fiscal 2020
.
Affected by the COVID-19 pandemic, sales of silicone products, mainly in the automotive and textile sectors, have dropped significantly
.
In contrast, demand in the construction industry remained stable, and the business of products related to medical, health and hygiene applications was very robust
.
WACKER SILICONES sales in fiscal 2020 fell by 9 percent to EUR 2.
24 billion (2019: EUR 2.
45 billion), mainly due to lower prices for standard silicone products, lower sales volumes and negative exchange rate effects
.
EBITDA was also lower than the previous year, with price factors reducing EBITDA by 19% compared to the previous year to EUR 387.
8 million (2019: EUR 478.
5 million)
.
Sales at WACKER POLYMERS fell slightly in 2020 to EUR 1.
30 billion (2019: EUR 1.
32 billion), or 1 percent, due to lower prices and negative currency effects
.
EBITDA increased by 39% year-on-year to EUR 270.
5 million (2019: EUR 194.
2 million)
.
The substantial increase in performance was mainly due to lower production costs and lower raw material prices compared to the previous year
.
In 2020, WACKER Biotechnology sales increased by 1 percent to EUR 246.
1 million (2019: EUR 243.
0 million)
.
Increased sales of biologics products and cyclodextrins were the main reasons behind this growth
.
EBITDA was EUR 38.
1 million (2019: EUR 31.
1 million), an increase of 23% year-on-year, mainly due to higher sales volumes and an improved cost structure
.
In the second half of 2020, the market for polysilicon for solar cells was in good shape, with WACKER POLYSILICON’s sales in fiscal 2020 rising by 2% year-on-year to EUR 792.
2 million (2019: EUR 780.
0 million)
.
The main reasons for this were increased sales and positive product mix effects
.
EBITDA was EUR 47 million (2019: EUR 56.
9 million), down 92% from the previous year
.
Excluding the EUR 112.
5 million accident insurance compensation received at the US production site in Charleston in the previous year, EBITDA for this business unit increased by EUR 60.
3 million
.
Among them, the further improvement of production costs has played a major role in promoting this
.
