Wacker Chemie Ag · XETR:WCH
Wacker Chemie — Wacker Chemie Ag Ord — FY 2025 Earnings Presentation
24 slides from Wacker Chemie's earnings presentation, Mar 11, 2026
Slide 1: FY 2025 Earnings Call Note
FY 2025 Earnings Call Note Wacker Chemie AG Dr. Christian Hartel (CEO), Dr. Tobias Ohler (CFO)
Slide 2: Disclaimer
Disclaimer The information contained in this presentation is for background purposes only and is subject to amendment, revision and updating. Certain statements and information contained in this presentation may relate to future expectations and other forward-looking statements that are based on man
Slide 3: WACKER FY 2025 Comments
WACKER FY 2025 Comments Overview Financials Operations Sustainability Sales & EBITDA held back by weak Utilization rates remain unsatisfactory due to CDP Climate Rating A markets; cash flow supported by targeted ongoing macroeconomic & geopolitical actions to reduce working capital headwinds EcoVadi
Slide 4: PACE Cost Project Launched in October 2025, Savings of >€300 Million Targeted
PACE Cost Project Launched in October 2025, First Measures Underway With Total Savings Of >€300 Million Per Year Targeted Cost project details Annual gross savings from PACE Comprehensive cost project underway in €m • The goal is to reduce production & administrative costs by >€300m annually • More
Slide 5: FY 2026 Outlook
FY 2026 Outlook EBITDA Expected In the Range from €550 to 700m FY 2026 Group Outlook 2026 • Sales: Low single-digit percentage higher year over year • EBITDA: In the range from €550 to 700m Outlook • ROCE: Positive, low single-digit percentage figure • CapEx: Approximately €300m • Net cash flow: Pos
Slide 6: Investing To Expand Global Leadership Positions
Investing To Expand Global Leadership Positions Silicones Polymers Biosolutions Polysilicon Zhangjiagang (CN), Tsukuba Calvert City (US): Munich: Burghausen: (JP), Jincheon (KR) & Nünchritz: • Additional VAE capacities for • R&D Biotechnology Center • Increase semiconductor • Specialty assets the US
Slide 7: Strategic Priorities
Strategic Priorities We unleash the potential of our Structure & Processes We elevate our Business Model & Value Proposition We excel with our People & Culture Wacker Wacker Chemie Chemie AG:AG: Q4/25 Q4/25 andand FY 2025, FY 2025, March March 11, 2026 11, 2026 7
Slide 8: 2025 EBITDA at €529m Before Restructuring Expenses
2025 EBITDA at €529m Before Restructuring Expenses Profit & loss FY 2025 FY 2024 FY 2025 comments • Sales -4.1% yoy Sales 5,485 5,722 Volume/Mix -0.7%, Price -1.6%, FX -2.0% EBITDA 427 744 • EBITDA before restructuring expenses -29% yoy • Net income includes approx. €600m non-cash charges EBITDA % 7
Slide 9: Strong Financials With High Liquidity At €1.48bn And €3.76bn In Equity
Strong Financials With A High Level Of Liquidity At €1.48bn And €3.76bn In Equity Balance sheet Assets Balance sheet per 12/31/25 Liabilities €9.4bn €8.4bn €9.4bn €8.4bn Cash & securities: • + €227m higher at €1.48bn 53% 52% 51% 45% Inventories: • - €268m lower YoY 12% Pension provisions: 17% 11% 18
Slide 10: Silicones: Year-End Seasonality And Working Capital Management
Silicones: Year-End Seasonality And Working Capital Management Defined Q4/25 Results, Order Patterns Remained Weak Quarterly figures Sales (€m) Q4 2025 Comments -3% • Sales & EBITDA held back by negative Volume / Mix -7% 2,805 650 effects, FX and low utilization rates 2,733 602 • Specialty pricing r
Slide 11: Polymers: Q4/25 With Year-End Seasonality, Results Supported By Cost Management
Polymers: Q4/25 With Year-End Seasonality, Results Supported By Cost Management Quarterly figures Sales (€m) Q4 2025 Comments -6% -7% • Sales and EBITDA defined by lower volumes, negative FX 1,463 1,379 337 effects, lower ASPs and typical year-end seasonality 312 • Stronger performance in EMEA, weak
Slide 12: Biosolutions: Demand Remained Soft In Q4/25
Biosolutions: Demand Remained Soft In Q4/25, Focus On Strengthening Commercial Activities Quarterly figures Sales (€m) Q4 2025 Comments -4% -15% • Sales stable QoQ, but declined YoY due to reductions in 375 360 106 Biopharma 89 • Inventory initiatives and low utilization rates weighed on EBITDA FY 2
Slide 13: Polysilicon: Semi Developed Very Strongly, Low Demand For Solar Continued
Polysilicon: Semi Developed Very Strongly, Low Demand For Solar Continued Quarterly figures Sales (€m) Q4 2025 Comments -7% +6% • Strong semi sales, volumes up by double-digit % YoY 949 883 209 222 • Low solar demand • EBITDA held back by low solar volumes, FX and very low plant utilization FY 2024
Slide 14: Others: FY/25 EBITDA At -€185m Included €103m PACE Provision
Others: FY/25 EBITDA At -€185m Included €103m Provision From PACE Cost Program Quarterly figures Sales (€m) Q4 2025 Comments -13% • PACE project costs of €103m included in reported Q4/25 37 40 EBITDA figure of - €18m 34 36 32 • CO2 compensation for FY/25 received (approx. €160m) & recognized as inco
Slide 15: Net Debt Increased to €886 Million
Net Debt Increased to €886 Million Year-over-year development of net debt 543 -691 -546 -124 -43 -24 -886 Net financial Cash flow from Cash flow from Dividend paid, Lease liabilities Fx, others Net financial debt 12.31.2024 operating activities investing before WACKER debt 12.31.2025 securities Wack
Slide 16: Q1 2026 Update: Current Trading
Q1 2026 Update: Sales Around €1,350m With An EBITDA Between €140 And 160m Current trading Silicones Biosolutions • Sales low double-digit percentage lower YoY, EBITDA at • Sales comparable YoY, EBITDA single-digit €m positive prior-year level • Focus on project acquisition and filling capacities • S
Slide 17: Creating tomorrow's solutions
Creating tomorrow's solutions
Slide 18: Appendix: Guidance FY 2026
Appendix: Guidance FY 2026 In €m FY 2025 Outlook 2026 Sales 5,485 Low single-digit percentage higher yoy EBITDA 427 In the range from €550 to 700m EBITDA margin (%) 7.8 Low double-digit percentage figure Included in EBITDA / EBIT: -103 0 restructuring expenses Net cash flow -4 Positive, significantl
Slide 19: Appendix: FY/25 Restructuring Expenses And Non-Cash Charges
Appendix: FY/25 With €103m Restructuring Expenses And ~€600m Non-Cash Charges Overview of special effects (provision and valuation adjustments) in 2025 Item Description Charge appears in Amount PACE cost project Restructuring provision EBITDA / EBIT €103m Impairment of goodwill in Spanish fermentati
Slide 20: Appendix: Year-Over-Year FY And Q4 Performance
Appendix: Year-Over-Year FY And Q4 Performance Annual and quarterly figures In €m Q4 2025 Q4 20241 % 2025 20241 % Sales 1,254 1,335 -6% 5,485 5,722 -4% EBITDA 81 283 -71% 427 744 -43% EBITDA-margin 6.5% 21.2% - 7.8% 13.0% - EBIT -141 152 - -180 271 - EBIT-margin -11.2% 11.4% - -3.3% 4.7% - EBITDA /
Slide 21: Appendix: FY And Q4 Results For The Group And By Segment
Appendix: FY And Q4 Results For The Group And By Segment Annual and quarterly figures In €m FY 2025 FY 20241 Q4 2025 Q4 20241 Sales EBITDA % Sales EBITDA % Sales EBITDA % Sales EBITDA % Chemicals 4,112 494 12.0 4,269 535 12.5 913 76 8.3 986 103 10.5 Silicones 2,733 336 12.3 2,805 341 12.2 602 42 6.9
Slide 22: Appendix: Progress Towards Group Sustainability Targets
Appendix: Progress Towards Ambitious Group Sustainability Targets 2020 2021 2022 2023 2024 2025 2030 Targets Net Zero 100% 93% 87% 72% 76% 71% 100% reduction by 2045 Value Up Sustainable products 83% 89% 90% 94% 94% 96% 100% of products meet defined sustainability criteria Diversity: Women in manage
Slide 23: Appendix: Raw Materials, Power and Gas
Appendix: Raw Materials, Power and Gas Si-Metal (€/mt) Electricity (€/MWh) 6,000 500 4,000 400 300 2,000 200 100 0 0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 VAM (€/mt) Natural Gas (€/MWh) 4,000 250 3,000 200 150 2,000 100 1,000 50 0 0 2022 2023 2024 2025 2026 2022 2023 2024 2025 2026 Wacke
Slide 24: WACKER: Issuer, Contact and Additional Information
WACKER: Issuer, Contact and Additional Information Investor relations contacts Financial Calendar April 29, 2026 Q1 2026 Results Joerg Hoffmann, CFA May 6, 2026 AGM Tel. +49 89 6279 1633 | joerg.hoffmann@wacker.com July 30, 2026 Q2 2026 Results Scott McCollister Oct. 29, 2026 Q3 2026 Results Tel. +4