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WACKER’s financial report for the first quarter of 2018 showed that the cause of the explosion at the Charleston, Tennessee plant in 2017 has been “clarified” and the repair work has reached the stage where production can start again
.
Polysilicon is expected to be sold in the second quarter of this year
.
Overall, WACKER’s sales were US$1.
22 billion, an increase of 4% from the previous quarter, which was comparable to the first quarter of 2017.
Among them, the polysilicon business accounted for only US$270 million, a year-on-year and quarter-on-quarter decline of 18%
.
"The significant drop was mainly due to lower production
.
Due to the production suspension in Charleston, the sales volume of polysilicon in this division was much lower than a year ago," WACKER explained in a statement.
"In addition to the decline in sales, it is also due to Charleston.
The continued cost of the factory has been reduced
.
In the reporting quarter, no compensation was made for the insurance coverage of Charleston’s business interruption losses
.
“But prices have remained relatively stable
.
The group’s total net income is US$100 million
.
It did not disclose data on polysilicon, but it did state that EBITDA reached US$58 million, a year-on-year decrease of 32% and a month-on-month decrease of 24%
.
In addition to the troubles of the US factories, WACKER also stated that the trade restrictions between the US and China are “worrying because global economic growth may slow down significantly
.
” Nevertheless, the company's prospects are still “good”, so it confirmed its The initial target for 2018 is to reduce fiscal year sales growth to single-digit percentages and increase EBITDA to mid-single digits
.
Sales and EBITDA in 2017 were US$6 billion and US$1.
2 billion, respectively
.
.
Polysilicon is expected to be sold in the second quarter of this year
.
Overall, WACKER’s sales were US$1.
22 billion, an increase of 4% from the previous quarter, which was comparable to the first quarter of 2017.
Among them, the polysilicon business accounted for only US$270 million, a year-on-year and quarter-on-quarter decline of 18%
.
"The significant drop was mainly due to lower production
.
Due to the production suspension in Charleston, the sales volume of polysilicon in this division was much lower than a year ago," WACKER explained in a statement.
"In addition to the decline in sales, it is also due to Charleston.
The continued cost of the factory has been reduced
.
In the reporting quarter, no compensation was made for the insurance coverage of Charleston’s business interruption losses
.
“But prices have remained relatively stable
.
The group’s total net income is US$100 million
.
It did not disclose data on polysilicon, but it did state that EBITDA reached US$58 million, a year-on-year decrease of 32% and a month-on-month decrease of 24%
.
In addition to the troubles of the US factories, WACKER also stated that the trade restrictions between the US and China are “worrying because global economic growth may slow down significantly
.
” Nevertheless, the company's prospects are still “good”, so it confirmed its The initial target for 2018 is to reduce fiscal year sales growth to single-digit percentages and increase EBITDA to mid-single digits
.
Sales and EBITDA in 2017 were US$6 billion and US$1.
2 billion, respectively
.
