Wacker Chemie Ag · XETR:WCH
Wacker Chemie — FY2025 Earnings Presentation
27 slides from Wacker Chemie's earnings presentation, Mar 11, 2026
Slide 1: Annual Press Conference for 2025
Annual Press Conference for 2025 Christian Hartel, CEO Tobias Ohler, CFO March 11, 2026
Slide 2: Chemical industry undergoing structural change
Chemical industry undergoing structural change: World Europe and Germany particularly under pressure. Chemical production
Slide 3: Huge overcapacity on the market
Huge overcapacity on the market Examples from our markets worldwide Solar-grade polysilicon 2020 2023 2025 Siloxane 2019 2023 2025 2029 3
Slide 4: 2025 concluded in line with market expectations, special effects impact earnings
2025 conlcuded in line with market expectations, special effects impact earnings Business development 2025 - Group Previous year / change year over year Sales €5.7 bn €5.5 bn 2025 -4% EBITDA €744 m 2025 €427 m -43% Net result for the incl. around €-100 million in special effects year €261 m €-805 m
Slide 5: Decline in the chemical divisions and in Biosolutions, Polysilicon burdened
Decline in the chemical divisions and in Biosolutions, Polysilicon burdened by solar-grade polysilicon business Business development 2025 - business divisions Silicones Polymers Biosolutions Polysilicon Sales 2025 €2.7 bn €1.4 bn €360 m €883 m -3% -6% -4% -7% EBITDA 2025 €336 m €158 m €21 m €96 m -2
Slide 6: Foundation created for profitable growth
Foundation created for profitable growth: increase in product quality, innovations, capacity expansion Highlights from 2025 Hyperpure polysilicon for Innovations from Specialty silicones for the semiconductor applications: biotechnology: new research automotive industry: capacity new cleaning line a
Slide 7: On track with sustainability
On track with sustainability Carbon targets Absolute emissions 2030 By 2045 -50% Net zero Current status -43% • Moving toward the production of “green” silicon: 100-percent green electricity at the Holla site for the production of metallurgical-grade silicon; use of biogenic carbon avoids CO2 emissi
Slide 8: Sales and earnings decline amid weak market environment
Sales and earnings decline amid weak market environment WACKER Group -4% • Weak demand leads to lower volumes and lower Sales capacity utilization in all divisions in € bn • Lower prices and currency effects have an 5.7 5.5 additional negative impact • Earnings negatively impacted by provision 2024
Slide 9: Continued strong sales share outside Europe of 60 percent
Continued strong sales share outside Europe of 60 percent Breakdown of sales by region Asia (35%) €1.9 bn Europe (40%) €2.2 bn Sales in 2025 €5.5 billion Rest of world (6%) €0.4 bn The Americas (19%) €1.0 bn 9
Slide 10: Special effects lead to negative net result for the year
Special effects for restructuring and valuation adjustments lead to negative net result for the year Other key financial indicators Previous year / change year over year • Decrease in EBIT primarily due to significantly lower EBITDA EBIT €271 m 2025 • Higher depreciation/amortization due to commissi
Slide 11: Weak demand leads to slight decline at Silicones
Weak demand leads to slight decline in sales and earnings at Silicones Silicones division -3% Sales • Weak demand, including in € bn from the automotive and construction industries 2.8 2.7 • Weaker product mix • Lower plant-utilization 2024 2025 rates • Negative currency effects -2% EBITDA in € m 34
Slide 12: Ongoing weak construction sector impacts polymers business
Ongoing weak construction sector impacts polymers business Polymers division Sales -6% • Weak construction in € bn industry, particularly in China and western 1.5 Europe 1.4 • Lower selling prices coupled with higher costs 2024 2025 • Lower plant-utilization rates EBITDA -19% • Negative currency eff
Slide 13: Lower volumes and fewer orders impact Biosolutions
Lower volumes and fewer orders in CDMO customer offtake impact Biosolutions Biosolutions division -4% Sales • Lower volumes for in € m established products and fewer orders in CDMO 375 customer offtake 360 • Lower plant-utilization rates 2024 2025 • Negative currency effects €-14 m EBITDA in € m 35
Slide 14: Strong semiconductor-grade polysilicon; solar-grade volumes decline
Strong business with semiconductor-grade polysilicon; another significant decline in solar-grade polysilicon volumes Polysilicon division Sales -7% • Share of hyperpure in € m semiconductor-grade polysilicon further 949 883 increased • Significant decline in solar-grade polysilicon 2024 2025 volumes
Slide 15: Continued targeted investment in global capacity expansion
Continued targeted investment in global capacity expansion Capital expenditures -34% 709 466 2024 2025 • Net cashflow at €-4 m almost balanced (2024: €-326 m) due to significant reduction in inventories • Net financial debt at €886 m as of December 31, 2025 Annual Press Conference for 2025, March 11
Slide 16: Liquidity and equity ratio remain high
Liquidity and equity ratio remain high Strong statement of financial position Previous year / change year over year Total assets €8.4 bn €9.4 bn 2025 -11% Liquidity €1.5 bn €1.3 bn December 31, 2025 +18% Equity €3.8 bn €4.8 bn 2025 -22% Equity ratio 44.9% 51.4% 2025 N/A Annual Press Conference for 2
Slide 17: Chemical production expected to remain weak in 2026
Chemical production expected to remain weak in 2026 Outlook for chemical production, change on previous year in % Worldwide Germany 4.9 3.5 2.3 3.0 2024 2025 2026 -1.0 -2.5 Source: VCI Business Worldwide, December 2025 2024 2025 2026 Annual Press Conference for 2025, March 11, 2026 17
Slide 18: We expect slight growth in 2026 despite challenging market
We expect slight growth in 2026 despite the challenging market environment Outlook for 2026 Sales Growth 2026 in low single-digit percentage range EBITDA 2026 €550 – €700 m Annual Press Conference for 2025, March 11, 2026 18
Slide 19: Our priorities: Strengthening competitiveness
Our priorities: Strengthening competitiveness A. We work on our costs and structures B. We elevate our business model and value proposition C. We invest in our employees Annual Press Conference for 2025, March 11, 2026 19
Slide 20: Largest cost-saving project in WACKER's history
Largest cost-saving project in WACKER's history PACE project progressing according to plan Material expenses Personnel expenses Reduction of > 1,500 jobs worldwide, focus on Germany Target > €300 m Annual savings Annual Press Conference for 2025, March 11, 2026 20
Slide 21: Faster and more efficient thanks to digitalization and AI
Faster and more efficient thanks to digitalization and AI Structures and processes Silicon Eye: live images from Virtual commissioning thanks Faster from idea to product: silicon furnace and AI make to digital twin enables earlier accelerating the innovation production more efficient production proc
Slide 22: Focus on specialties, semiconductor-grade polysilicon, biotech solutions
Focus on specialties, semiconductor-grade polysilicon, biotech solutions Elevating our business model & value proposition Expanding specialties Focus on the semiconductor Innovative biotech solutions business in the chemical market in Polysilicon in Biosolutions divisions Annual Press Conference for
Slide 23: Specialties for e-mobility, smart construction and much more
Specialties for e-mobility, smart construction and much more Annual Press Conference for 2025, March 11, 2026 23
Slide 24: Semiconductor-grade polysilicon enables digitalization and AI
Semiconductor- grade polysilicon enables digitalization and AI Annual Press Conference for 2025, March 11, 2026 24
Slide 25: Innovative biotech solutions for the food and medicines of tomorrow
Innovative biotech solutions for the food and medicines of tomorrow Annual Press Conference for 2025, March 11, 2026 25
Slide 26: Strong team: We invest in the skills of our employees
Strong team: We invest in the skills and abilities of our employees Annual Press Conference for 2025, March 11, 2026 26
Slide 27: Q&A
Q&A Annual Press Conference for 2025, March 11, 2026 27