Germany's Wacker Q2 net profit down 77% on lower product prices

30 July 2013 08:51  [Source: ICIS news]

SINGAPORE (ICIS)--Wacker’s net income fell by 77.1% year on year to €13.6m ($18.1m) in the second quarter of this year, with sales heavily pressured by lower prices for polysilicon and semiconductor wafers, the German producer said on Tuesday.

Its sales fell by 5.9% year on year to €1.15bn in the second quarter, while earnings before interest and taxes (EBIT) was down by 53.1% at €52.5m, Wacker said in a statement.

“Wacker’s earnings trend from April through June was once again marked by the low price levels for polysilicon,” it said.

“Solar-silicon prices in the second quarter were down about one-third from their prior-year levels,” the firm added.

For the first six months of this year, the firm’s net profit fell by 82.7% year on year to €17.7m, while sales slipped by 7.9% to €2.23bn.

Wacker now expects its sales to reach around €4.5bn in 2013, down from the €4.63bn it posted last year.

($1 = €0.75)

By: Nurluqman Suratman

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly