Wacker Annual Report 2023

WACKER acquired assets already recognized in the amount of €65.2 million and liabilities of €55.6 million. Cash and cash equivalents accounted for €2.9 million of the acquired assets. The difference between the transferred and contingent consideration and the acquired net assets of €9.6 million amounted to €105.3 million. The purchase price allocation resulted in the revaluation of property, plant and equipment, leases, and inventories in the amount of €7.7 million.

Intangible assets worth €4.2 million were identified, largely relating to the company’s customer base. A favorable supply contract was capitalized under other assets in the amount of €4.3 million. The resulting goodwill of €89.1 million relates primarily to future WACKER business fields and to synergies with the existing biotechnology business.

The purchase price allocation was concluded on December 31, 2023. The transaction costs were expensed and amounted to around €2 million. Since being acquired, the company has posted sales of €27.7 million and recognized EBITDA of €1.7 million. If the acquisition had taken place at the start of the year, sales would have amounted to €41.6 million and EBITDA to €3.4 million.

Highlights (in € Million)

• Sales 6,402.2
• Cost of goods sold -5,319.2
• Gross profit from sales 1,083.0
• EBIT 404.9
• Financial result -17.9