Wacker Chemie Ag · XETR:WCH
Wacker Chemie — Wacker Chemie Ag Ord — Q2 2025 Earnings Presentation
19 slides from Wacker Chemie's earnings presentation, Jul 31, 2025
Slide 1: Q2 2025 – Conference Call Note
CREATING TOMORROW’S SOLUTIONS Q2 2025 – Conference Call Note Dr. Christian Hartel (CEO), Dr. Tobias Ohler (CFO) July 31, 2025 Q2 2025 – Conference call note July 31, 2025 0
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 Q2 2025 Comments
WACKER Q2 2025 Comments Financials Operations Sustainability €1.41bn Tariffs Weigh on Markets Product Carbon Customers adapt a wait-and-see Footprints (PCF) Sales (-1% yoy) approach due to macroeconomic & Trade-related uncertainty weighs on overall demand geopolitical headwinds Now Available Provide
Slide 4: Updated FY 2025 Group Outlook – Actions Underway to Improve Performance
Updated FY 2025 Group Outlook – Actions Underway to Improve Performance FY 2025 group outlook Sales of €5.5 – 5.9bn (Previous: €6.1 – 6.4bn) EBITDA between €500 – 700m (Previous: €700 – 900m) Ongoing macroeconomic and geopolitical uncertainty, resulting in weak demand Unfavorable development
Slide 5: Group Q2 2025 EBITDA at €114m
Profit & Loss Statement Group Q2 2025 EBITDA at €114m Profit & Loss (€m) Q2 Comments Sales -4% yoy Q2 2025 Q2 20241 Volume/Mix -1%, Price -1%, FX -2% Sales 1,413 1,468 EBITDA -26% yoy Performance held back by volume/mix, prices, FX, and Gross profit from sales 165 224 turnaround costs Gross marg
Slide 6: Financials with €4.5bn in Equity and €796m in Liquidity
Balance Sheet Composition Financials with €4.5bn in Equity and €796m in Liquidity Balance sheet (%) Characteristics 06/30/25 Assets Liabilities Cash & Securities: High level of liquidity at €796m €9.4bn €8.8bn €9.4bn €8.8bn Working Capital: + €135m higher on seasonality in Chems 52% 53% 51% 51%
Slide 7: SILICONES Performance Held Back by Trade Uncertainty and FX Headwinds
SILICONES Performance Held Back by Trade Uncertainty and FX Headwinds Sales (€m) Comments Q2 -1% Volumes higher yoy and qoq 719 727 650 745 713 Sales held back by FX, price and mix Standards price pressure remains Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 EBITDA supported by low double-digit m
Slide 8: POLYMERS Seasonal Improvement Muted by Turnaround
POLYMERS Seasonal Improvement Muted by Turnaround Sales (€m) Comments Q2 -7% Sales mainly held back by FX & volumes in consumer- 389 365 337 360 363 related dispersions yoy and qoq Construction dynamics unchanged, weak DPP1 volumes in Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Europe and China but
Slide 9: BIOSOLUTIONS Environment Marked By Soft Demand
BIOSOLUTIONS Environment Marked By Soft Demand Sales (€m) Comments Q2 -11% Sales qoq and yoy lower following softer market demand 98 100 106 91 87 EBITDA stable qoq despite headwinds BENEO & WACKER initiate partnership for human milk Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 oligosaccharide EBIT
Slide 10: POLYSILICON Semi Volumes Significantly Higher, Tariff Uncertainty Weighs On Solar
POLYSILICON Semi Volumes Significantly Higher, Tariff Uncertainty Weighs On Solar Sales (€m) Comments Q2 -6% Semi-grade volumes sold significantly higher yoy and qoq, 232 209 209 245 218 new etching line on schedule Much lower solar-grade volumes sold yoy and qoq; Q2 2024 Q3 2024 Q4 2024 Q1 2025
Slide 11: Net Debt Increased to €1.14 Billion
Net Financial Position Net Debt Increased to €1.14 Billion Net Financial Position Bridge (€m) -691 -5 -296 1 -124 -24 -1,139 Net financial debt Cash flow Cash flow from Dividend Lease Exchange-rate Net financial debt as of from operating long-term paid, liabilities effects as of Dec. 31, 2024 activi
Slide 12: Q2 2025 – Q&A
Q2 2025 – Q&A Q2 2025 – Conference call note July 31, 2025 11
Slide 13: Changes in Accounting Policies in 2025
Appendix Changes in Accounting Policies in 2025 P&L Effect: Cashflow Effect: 2024 Restated Figures: Reported EBITDA of €763m … … restated to €744m Investment income Dividends received Reported EBIT of €290m restated EBITDA to €271m Cashflow from operating activities Reported Investment income
Slide 14: Q2 2025 Results
Appendix Q2 2025 Results In €m Q2 2025 Q2 20241 % YoY Sales 1,413 1,468 -4% EBITDA reported 114 155 -26% EBITDA-Margin 8.1% 10.5% - EBIT -11.3 38 n.a. EBIT-Margin -0.8% 2.6% - Net income for the period -19 35 n.a. EPS -0.49 0.58 n.a. CapEx 96 177 -46% Net Cashflow -137 -179 -24% Net Debt 1,139 661 7
Slide 15: Q2 2025 Results – Breakdown by Business
Appendix Q2 2025 Results – Breakdown by Business FY 20241 FY 20231 Q2 2025 Q2 20241 EBITDA EBITDA EBITDA EBITDA In €m / % SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN Chemicals 4,269 535 12.5 4,321 486 11.2 1,077 144 13.4 1,108 148 13.4 SILICONES 2,805 341 12.2 2,7
Slide 16: Updated Guidance FY 2025
Appendix Updated Guidance FY 2025 In €m FY 2024 Outlook 2025 Sales 5,722 €5.5 – 5.9bn EBITDA1 744 €500 – 700m EBITDA margin (%)1 13.0 Substantially lower than prior year Net cash flow -326 Approx. balanced CapEx 666 Substantially lower than prior year, on par with depreciation Net Debt 691 Substanti
Slide 17: Progress Towards Ambitious Group Sustainability Targets
Appendix Progress Towards Ambitious Group Sustainability Targets 2020 2021 2022 2023 2024 2030 Target Net Zero 100% 93% 87% 72% 76% 100% reduction by 2045 Value Up Sustainable products 83% 89% 90% 94% 94% 100% of products meet defined sustainability criteria Diversity: Women in management 17% 19% 21
Slide 18: Key Raw Materials, Power and Gas
Appendix Key Raw Materials, Power and Gas Si-Metal (€/mt) Electricity (€/MWh) 10,000 500 8,000 400 6,000 300 4,000 200 2,000 100 0 0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Source: CRU, Si-Metal Spot FD Europe Source: EEX, Baseload Front Contract Avg. Month VAM (€/mt) Natural Gas (€/MWh) 4
Slide 19: WACKER: Issuer, Contact and Additional Information
WACKER: Issuer, Contact and Additional Information Issuer and Contact Financial Calendar INVESTOR RELATIONS CONTACTS Oct. 30, 2025 Q3 2025 Results Joerg Hoffmann, CFA Tel. +49 89 6279 1633 | joerg.hoffmann@wacker.com Scott McCollister Tel. +49 89 6279 1560 | scott.mccollister@wacker.com Publications