Wacker Chemie Ag · XETR:WCH

Wacker Chemie — FY2023 Earnings Presentation

14 slides from Wacker Chemie's earnings presentation, Jan 29, 2024

  1. Slide 1: Preliminary Release FY 2023e – Additional Information

    CREATING TOMORROW’S SOLUTIONS Preliminary Release FY 2023e – Additional Information January 29, 2024 Preliminary Release FY 2023e – Additional Information January 29, 2024 0

  2. 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

  3. Slide 3: WACKER 2023e Highlights

    WACKER 2023e Highlights Financials Operations Sustainability €6.40bn Continued Headwinds Net Zero 2045 Results held back by weak demand, Target Validated Sales (-22% yoy) high energy costs & trailing raws Driven primarily by lower ASP and volumes WACKER is among the first chemical companies globally

  4. Slide 4: WACKER FY 2023e Preliminary Results

    WACKER FY 2023e Preliminary Results In €m FY 2023e FY 2022 % YoY Sales 6,402 8,209 -22% EBITDA reported 824 2,081 -60% EBITDA-Margin 13% 25.4% EBIT 405 1,679 -76% EBIT-Margin 6% 20.5% Net income 330 1,282 -73% CapEx 710 547 30% Net cash flow 166 439 -62% Net Debt 84 -409 n.a. Preliminary Release FY

  5. Slide 5: FY 2023e EBITDA at €824m, Higher Investments YoY to Enable Customer Growth

    GROUP FY 2023e EBITDA at €824m, Higher Investments YoY to Enable Customer Growth Sales (€m) Comments Q4 -24%  Chemicals (SILICONES & POLYMERS) with year-end 1,827 1,744 1,753 1,523 1,383 seasonality  POLYSILICON with resilient Semi, low solar ASP Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e  EBITDA h

  6. Slide 6: Silicones: FY EBITDA at €236m on Demand-Driven Adverse Mix Effects, Pricing and Raws

    SILICONES FY EBITDA at €236m on Demand-Driven Adverse Mix Effects, Pricing and Raws Sales (€m) Comments Q4 -14% 706 760 699  Weak demand across all regions, with year-end seasonality 673 610  Lower specialty volumes Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e  Standards prices are stabilizing at lim

  7. Slide 7: Polymers: FY EBITDA at €253m, Defending Margins in a Weak Demand Environment

    POLYMERS FY EBITDA at €253m, Defending Margins in a Weak Demand Environment Sales (€m) -19% Comments Q4 421 428 417 393  Volumes at prior year level, but sequentially lower with 342 year-end seasonality Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e  Regions: Europe down due to weak market demand, Ameri

  8. Slide 8: Biosolutions: FY EBITDA at €7m, Strong Q4 despite Upfront Costs

    BIOSOLUTIONS FY EBITDA at €7m, Strong Q4 despite Upfront Costs Sales (€m) +14% Comments Q4 91 93  Sales and EBITDA significantly better yoy and qoq driven 81 77 77 by customer project finalizations at year-end Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e  Strong growth in BioPharma sales yoy and qoq E

  9. Slide 9: Polysilicon: FY EBITDA at €321m, Solar With Significantly Lower Prices and Volumes

    POLYSILICON FY EBITDA at €321m, Solar With Significantly Lower Prices and Volumes Sales (€m) Comments Q4 -47% 574 513  Resilient Semi volumes with higher prices yoy 441 342 303  Sales down yoy on lower solar volumes and ASP Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e  Ongoing solar market price diff

  10. Slide 10: Others: FY EBITDA About Break-Even After Investment Income

    OTHERS FY EBITDA About Break-Even After Investment Income Sales (€m) Comments Q4 -22% 50 45  Q4/23 with recognition of income from CO2 compensation 38 40 39 for full year 2023 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023e Modeling Help  To ensure a true and fair view on segment performance, we credit t

  11. Slide 11: Appendix: Q4 2023e Results

    Appendix Q4 2023e Results In €m Q4 2023e Q4 2022 % YoY Sales 1,383 1,827 -24% EBITDA reported 135 355 -62% EBITDA-Margin 10% 19.4% - EBIT 25 250 -89% EBIT-Margin 2% 13.7% - Net income for the period 30 229 -87% CapEx 305 232 32% Net Cash Flow 87 28 207% Net Debt 84 -409 - Preliminary Release FY 2023

  12. Slide 12: Q4 2023e Results – Breakdown by Business

    Appendix Q4 2023e Results – Breakdown by Business Sales EBITDA EBITDA Margin (%) In €m / % Q4/23e Q4/22 % YoY Q3/23 % QoQ Q4/23e Q4/22 % YoY Q3/23 % QoQ Q4/23e Q4/22 Q3/23 Chemicals 952 1,128 -16% 1,066 -11% 69 168 -59% 126 -45% 7.0 14.9 11.8 SILICONES 610 706 -14% 673 -9% 37 1231 -70% 51 -27% 6.1 1

  13. Slide 13: 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 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Source: CRU, Si-Metal Spot FD Europe Source: EEX, Baseload Front Contract Avg. Month VAM (€/mt) Natural Gas (€/MWh) 4

  14. Slide 14: WACKER: Issuer, Contact and Additional Information

    WACKER: Issuer, Contact and Additional Information Issuer and Contact Financial Calendar INVESTOR RELATIONS CONTACTS 03/12/24 FY 2023 Results 04/25/24 Q1 2024 Results Joerg Hoffmann, CFA 05/08/24 Annual General Meeting, Munich Tel. +49 89 6279 1633 | joerg.hoffmann@wacker.com 07/26/24 Q2 2024 Result

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