Quarterly profit rebounds
The MDax-listed company reported third-quarter sales of €1.47 billion, up just over 9% from a year earlier. Net income reached €87 million, reversing a loss of €82 million in the same period last year.
Wacker attributed most of the increase in earnings before interest, taxes, depreciation and amortization, or EBITDA, to its efficiency program. The quarterly total also included a benefit of about €35 million from the termination of a contract in the Polysilicon division's solar-grade business.
Higher prices for some products provided additional support. According to dpa-AFX, many European chemical producers are benefiting from higher selling prices as Asian competitors face greater disruption from the war between Iran and the United States. The conflict is particularly affecting shipments to Asia of oil and natural gas used as raw materials by the industry.
About 83% of Wacker's quarterly sales came from outside Germany. Revenue in Asia increased 13% year over year to €518 million, while the Americas recorded a 10% rise to €277 million. European sales grew 6% to €585 million.
Cash inflows lower the debt outlook
For 2026, Wacker still expects sales growth in the mid-single-digit percentage range and EBITDA of €625 million to €750 million. The company said earnings are likely to fall in the upper half of that range.
It now forecasts year-end net financial debt of around €200 million, down from its previous estimate of around €500 million. The revision mainly reflects proceeds from Siltronic share sales and a change in the funding of phased-retirement obligations.
Third-quarter net cash flow reached €476 million, compared with €19 million a year earlier. Further sales of Siltronic shares generated about €170 million in cash. Replacing securities held to fund phased-retirement obligations with bank guarantees released approximately €120 million in a one-time liquidity benefit.
An earlier Siltronic share placement in May 2026 generated gross proceeds of about €188 million. Wacker sold 2.1 million shares at €89.35 each, representing 7% of Siltronic's capital stock. That transaction reduced its holding to approximately 24%, though it remained Siltronic's largest shareholder.
PACE savings plan includes German job cuts
Wacker launched its PACE cost-savings and efficiency program in October 2025. The company aims to achieve more than €300 million in annual savings starting in 2028.
Under a framework agreed by management and employee representatives on May 8, 2026, Wacker plans to eliminate around 1,600 jobs in Germany. The site-level plan calls for 1,300 cuts in Burghausen, 200 in Nünchritz, 60 in Munich and 50 across other German locations.
The reductions are to be voluntary, using partial-retirement arrangements and severance offers, with no compulsory layoffs. All employees in Germany are also to contribute through a temporary 4% reduction in working hours and pay until 2028. Wacker plans to complete all structural measures by the end of 2027.
REFOCUS sets longer-term financial goals
At its September 2026 Capital Markets Day, Wacker introduced its REFOCUS strategy. Its targets include an EBITDA margin of 15%, with a range of 2 percentage points above or below that level, a sustained return on capital employed above 10%, and growth faster than the global economy.
