Wacker Q1 EBIT rises 6% on higher volumes

30 April 2008 07:31  [Source: ICIS news]

MUMBAI (ICIS news)--Germany-based Wacker Chemie posted a 6% year-on-year rise in its first-quarter 2008 earnings before interest and tax (EBIT) to €198.7m ($310.4m) on the back of increased volumes and higher prices, the company said on Wednesday.

“Despite significant economic turbulence, we are on a solid growth course in both sales and earnings,” said Peter-Alexander Wacker, president and CEO of the company.

For the quarter, the company’s sales were up 8% to €1.02bn and its net income increased 14% to €130.6m, it added.

“Overall, the group sees a good chance of boosting sales – as in the past few years – by clearly more than 10% in 2008, too. EBITDA [earnings before interest, tax, depreciation and amortization] is also expected to further increase,” the company said.

($1=€0.64)

By: Isha Jha
+65 6780 4359

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