Wacker Q1 Report 2024

In Q1 2024, WACKER posted EBITDA (earnings before interest, taxes, depreciation and amortization) of €172 million, 39 percent lower than in the same period last year (€281 million). Compared with the preceding quarter (€135 million), EBITDA rose 27 percent. The lower earnings year over year were primarily due to lower selling prices as well as negative exchange-rate effects. Compared with a quarter earlier, consistent cost-cutting measures had a positive impact on EBITDA. The earnings generated by the operating segments in Q1 trended as expected. The EBITDA margin was 11.6 percent for the period from January through March 2024 (Q1 2023: 16.1 percent), and 9.8 percent for the prior quarter.

Highlights

• GROUP SALES FOR Q1 2024 REACH €1.5 BILLION, DOWN 15 PERCENT YEAR OVER YEAR AND UP 8 PERCENT QUARTER OVER QUARTER
• EBITDA DECLINES 39 PERCENT TO €172 MILLION COMPARED WITH PREVIOUS YEAR DUE TO LOWER SELLING PRICES
• EARNINGS GENERATED BY OPERATING SEGMENTS TREND AS EXPECTED
• NET INCOME FOR Q1 TOTALS €48 MILLION
• PRESIDENT AND CEO CHRISTIAN HARTEL: “THE AMOUNT OF INCOMING ORDERS WAS HIGHER THAN LAST QUARTER. OUR CUSTOMERS HAVE STARTED TO REPLENISH THEIR INVENTORIES FROM THE RECENTLY VERY LOW LEVELS. BUT THIS CANNOT YET BE SEEN AS A DISTINCT SIGN OF A LASTING TURNAROUND.”