Wacker Chemie Ag · XETR:WCH
Wacker Chemie — FY2024 Earnings Presentation
20 slides from Wacker Chemie's earnings presentation, Mar 12, 2025
Slide 1: FY 2024 – Conference Call Note
FY 2024 – Conference Call Note Dr. Christian Hartel (CEO), Dr. Tobias Ohler (CFO) March 12, 2025 FY 2024 – Conference Call Note March 12, 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 FY 2024 Highlights
WACKER FY 2024 Highlights Financials Operations Sustainability €5.72bn Chemicals with Higher CDP A rating Volumes & Better Mix WACKER achieved, for Sales (-11% yoy) Good performance in weak markets the second time, the top Driven by lower solar-grade polysilicon volumes sustainability rating in the
Slide 4: Dividend Proposal of €2.50 Per Share for FY 2024
Dividend Proposal of €2.50 Per Share for FY 2024 Dividend (€) and Payout Ratio to Shareholders €12.00 €8.00 €4.50 €2.00 €2.50 €3.00 €2.50 €2.00 €2.00 €2.00 €2.50 €0.50 2015 2016 2017 2018 2019 2020 2021 20222 2023 2024 40% 56% 52%1 51% n.a. 53% 49% 48% 48% 52%2 Bonus Regular Dividend % Payout Ratio3
Slide 5: FY 2025 Group Guidance – Committed to 2030 Targets
FY 2025 Group Guidance – Committed to 2030 Targets FY 2025 Group Guidance Sales of €6.1 – 6.4bn EBITDA between €700 – 900m CapEx significantly lower than prior year, slightly above depreciation Net cash flow substantially higher than last year and positive 2030 Targets Sales: > €10bn EBI
Slide 6: Investing in Growth – Expanding Global Leadership Positions
Investing in Growth – Expanding Global Leadership Positions SILICONES POLYMERS BIOSOLUTIONS POLYSILICON Burghausen & Nünchritz Calvert City: León: Burghausen: Specialties & VAE Dispersions Upgrade infrastructure & Semiconductor etching Intermediates Completion: 2026 improve capabilities
Slide 7: €763m in EBITDA: Chemicals EBITDA +11% YoY to €542m
Profit & Loss Statement €763m in EBITDA: Chemicals EBITDA +11% YoY to €542m Profit & Loss (€m) Sales Bridge (€m) -11% FY 2024 FY 2023 6,402 -265 5,722 -388 -28 Sales 5,722 6,402 Gross profit from sales 987 1,083 Sales Volume/Mix Price FX Sales Gross margin 17.2% 16.9% FY 2023 FY 2024 EBITDA 763 824
Slide 8: Resilient Financials with €4.8bn in Equity and €1.3bn in Liquidity
Balance Sheet Composition Resilient Financials with €4.8bn in Equity and €1.3bn in Liquidity Balance sheet (%) Characteristics 12/31/24 Assets Liabilities Cash & Securities: High level of liquidity at €1.3bn €8.9bn €9.4bn €8.9bn €9.4bn Working Capital: + €350m higher yoy primarily on increase of
Slide 9: Silicones: FY EBITDA of €347m, up +47% YoY on Higher Specialties Volumes
SILICONES FY EBITDA of €347m, up +47% YoY on Higher Specialties Volumes Sales (€m) FY 2024 Comments +7% +2% 650 2,741 2,805 Sales +2% yoy and EBITDA +47% yoy on good mix, higher 610 volumes, and better plant loading Specialties with strong yoy volume growth dynamics Q4 2023 Q4 2024 FY 2023 FY 20
Slide 10: Polymers: FY EBITDA at €194m, -23% YoY on Lower Prices
POLYMERS FY EBITDA at €194m, -23% YoY on Lower Prices and Weak Construction Markets Sales (€m) FY 2024 Comments -2% -7% Sales & EBITDA supported by higher volumes but held back 342 337 1,580 1,463 by lower prices Dispersions with strong growth driven by adhesives and Q4 2023 Q4 2024 FY 2023 FY 2
Slide 11: Biosolutions: FY EBITDA at €35m, +€28m YoY with Strong Growth in BioPharma
BIOSOLUTIONS FY EBITDA at €35m, +€28m YoY with Strong Growth in BioPharma Sales (€m) FY 2024 Comments +14% +11% Sales & EBITDA growth driven by BioPharma 93 106 337 375 New mRNA facility start-up completed and certified by the Federal Government in June Q4 2023 Q4 2024 FY 2023 FY 2024 EBITDA (€m
Slide 12: Polysilicon: FY EBITDA at €193m, -40% YoY on Lower Solar Volumes
POLYSILICON FY EBITDA at €193m, -40% YoY on Significantly Lower Solar Volumes Sales (€m) FY 2024 Comments -41% -31% 1,599 Sales & EBITDA decline yoy due to lower solar-grade 303 209 949 volumes sold Semi volumes and prices resilient Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 EBITDA includes IRA benefi
Slide 13: Others: FY 2024 EBITDA €-20m Before SILTRONIC
OTHERS FY 2024 EBITDA €-20m Before SILTRONIC Sales (€m) FY 2024 Comments -5% 39 39 37 To ensure a true and fair view of segment performance, we 34 34 credit the expected payments (CO2 compensation) quarterly to the segments, debiting OTHERS Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 CO2 compensatio
Slide 14: €310m Gross Cash Flow Held Back by Increase in Inventory
Net Financial Position €310m Gross Cash Flow Held Back by Increase in Inventory Net Financial Position Bridge per 12/31/2024 (€m) 310 -84 -636 -149 -112 -20 -691 Net financial debt Cash flow Cash flow from Dividend Lease Exchange-rate Net financial debt as of from operating long-term paid, liabiliti
Slide 15: Q1 Trading Update: Sales of about €1.5bn with an EBITDA of around €135m
Q1 Trading Update Sales of about €1.5bn with an EBITDA of around €135m SILICONES POLYMERS Sales & EBITDA significantly higher yoy and qoq Sales & EBITDA lower yoy, sequentially higher Q1 with ongoing good mix Volumes for DPP and dispersions at prior year level BIOSOLUTIONS POLYSILICON Sale
Slide 16: Appendix Guidance FY 2025
Appendix Guidance FY 2025 In €m FY 2024 Outlook 2025 Sales 5,722 €6.1 – 6.4bn EBITDA 763 €700 – 900m EBITDA margin (%) 13.3 On par with last year Net cash flow -326 Positive, substantially higher than last year CapEx 666 Significantly lower than prior year, slightly above depreciation Net Debt 691 O
Slide 17: Appendix 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: FY 2024 Results – Breakdown by Business
Appendix FY 2024 Results – Breakdown by Business FY 2024 FY 2023 Q4 2024 Q4 2023 EBITDA EBITDA EBITDA EBITDA In €m / % SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN Chemicals 4,269 542 12.7 4,321 490 11.3 986 101 10.3 952 69 7.3 SILICONES 2,805 347 12.4 2,741 236 8.
Slide 19: Appendix 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 20: WACKER: Issuer, Contact and Additional Information
WACKER: Issuer, Contact and Additional Information Issuer and Contact Financial Calendar INVESTOR RELATIONS CONTACTS 30/04/25 Q1 2025 Results Joerg Hoffmann, CFA 07/05/25 Annual Shareholders Meeting Tel. +49 89 6279 1633 | joerg.hoffmann@wacker.com 31/07/25 Q2 2025 Results Scott McCollister 30/10/25