Wacker Chemie Ag · XETR:WCH
Wacker Chemie — Non-Deal Roadshow (November 2023)
20 slides from Wacker Chemie's roadshow presentation, November 2023
Slide 1: WACKER – Accelerating Proven Successes
CREATING TOMORROW’S SOLUTIONS WACKER – Accelerating Proven Successes Wacker Chemie AG November 2023 Ticker: WCH @Wacker Chemie AG www.wacker.com November 2023 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 ma
Slide 3: WACKER: At a Glance
WACKER: At a Glance Facts & Figures POLYSILICON SILICONES No. 1 in semi No. 2 €8.2bn 15,725 Sales in 2022 Employees €2.1bn 27 Sales EBITDA in 2022 Production Sites FY 2022 25% 26 EBITDA margin in 2022 Technical Centers POLYMERS No. 1 Scientific BIOSOLUTIONS 4 Business Segments 45 collaborations OTHE
Slide 4: WACKER GROUP: Difficult Markets Persist Since End of Last Year
WACKER GROUP: Difficult Markets Persist Since End of Last Year Sales (€m) Highlights Q3 -29% 2,132 Sales lower primarily due to lower prices as well as volumes 1,827 1,744 1,752 1,523 EBITDA affected by low volumes, lower ASPs and trailing raw materials Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023
Slide 5: SILICONES: At a Glance
SILICONES: At a Glance Financial Performance 16% 22% 9% €582m The Fully Integrated Sustainability Pull For Specialty Supplier Specialty Solutions €304m €199m Customer’s first choice for Silicones with unmatched innovative and customized solutions performance & versatility in all regions Smart
Slide 6: POLYMERS: At a Glance
POLYMERS: At a Glance Financial Performance 17% 16% 18% €231m €221m €197m VAE/DPP1 Capacity Leader Pull from Sustainability and with World Class Tandems Smart Construction Customized service to key accounts Performance-based substitution in and local champions in the regions construction and bin
Slide 7: BIOSOLUTIONS: At a Glance
BIOSOLUTIONS: At a Glance Financial Performance 16% 5% -2% €331m €245m Fast Growing Biotechnology Pull from Advanced €158m Business Medicine and Clean Food Leading microbial manufacturing CDMO outsourcing trend with high technologies potential Jump-started into advanced Consumer focus on hea
Slide 8: POLYSILICON: At a Glance
POLYSILICON: At a Glance Financial Performance 33% 26% 23% €350m €323m €300m Leadership in High End Pull from Rapidly Growing Applications Established Semi and Solar Markets #1 Position in Semi – doubled Strong growing chip demand volumes sold in past 5 years High efficiency modules require hi
Slide 9: A New Phase with New Group Targets for 2030
A New Phase with New Group Targets for 2030 Chemicals Financial KPIs 22% 28% €815m Faster Growth, Bolder Strategic Growth Projects Moves, High Profitability €500m SILICONES: Specialties €420m 20% SALES: >€10bn POLYMERS: Tandems (VAE+DPP) EBITDA Margin: >20% 17% BIOSOLUTIONS: Biologics 13%
Slide 10: 2030 Targets - Accelerating for our Customers’ Growth
2030 Targets - Accelerating for our Customers’ Growth CHEMICALS BIOSOLUTIONS POLYSILICON Accelerate Growth Incubate, Innovate, Grow Strengthen Semi Position Demand pull from sustainability Demand pull from advanced Demand pull from rapidly growing medicine and clean food semi/solar markets F
Slide 11: 2030 Targets - Capital Allocation Priorities
2030 Targets - Capital Allocation Priorities GROWTH High-Return Growth CapEx 1 CapEx and M&A Accelerate chemical capacities in all regions, diversified portfolio of downstream projects Early-stage assets, create synergies in BIOSOLUTIONS; strengthen market position, extend value chain in CHEMICA
Slide 12: Ambitious Sustainability Targets for 2030
Ambitious Sustainability Targets for 2030 Value Up Footprint Down Collaboration Beyond Reduction in absolute GHG1 100% Products meet sustainability criteria 50% emissions (vs. 2020) 100% Key suppliers meet sustainability standards Reduction in absolute Reduction in specific water 15% withdrawal (vs.
Slide 13: Progress Made on Achieving Ambitious Group Sustainability Targets
Appendix Progress Made on Achieving Ambitious Group Sustainability Targets 2020 2021 2022 2030 Target Net Zero by 2045 Value Up Sustainable products 83% 89% 90% 100% of products meet defined sustainability criteria Diversity: Woman in management 17% 19% 21% 33% of management positions held by woman
Slide 14: Guidance FY 2023
Appendix Guidance FY 2023 In €m FY 2022 Outlook 2023 Sales 8,209 At about €6.5bn (previously: €6.5 – 6.8bn) EBITDA 2,081 €0.8 – 0.9bn (previously: €0.8 – 1.0bn) EBITDA margin (%) 25.4 Substantially lower than last year Net cash flow 439 Positive, substantially lower than last year CapEx 547 Around €
Slide 15: WACKER Q3 2023 Results
Appendix WACKER Q3 2023 Results In €m Q3 2023 Q3 2022 % YoY Sales 1,523 2,132 -29% EBITDA reported 152 457 -67% EBITDA-Margin 10.0% 21.4% EBIT 49 351 -86% EBIT-Margin 3.2% 16.4% Net income for the period 34 259 -87% EPS 0.56 5.08 -89% CapEx 155 131 18% Net Cash Flow 128 296 -57% Net Debt 164 -394 n.
Slide 16: Q3 2023 Results – Breakdown by Business
Appendix Q3 2023 Results – Breakdown by Business Sales EBITDA EBITDA Margin (%) In €m / % Q3/23 Q3/22 % YoY Q2/23 % QoQ Q3/23 Q3/22 % YoY Q2/23 % QoQ Q3/23 Q3/22 Q2/23 Chemicals 1,066 1,394 -23% 1,115 -4% 126 258 -51% 128 -1% 11.8 18.5 11.4 SILICONES 673 890 -24% 699 -4% 51 198 -74% 52 -1% 7.6 22.2
Slide 17: Strong Cash Conversion in Q3 as Working Capital Unwinds
Appendix Strong Cash Conversion in Q3 as Working Capital Unwinds Net Financial Position Bridge per 9/30/2023 (€m) 627 409 -548 -596 -14 -41 -164 Net financial asset Cash flow Cash flow from Dividend Lease Exchange-rate Net financial asset as of from operating long-term paid, liabilities effects as o
Slide 18: Strong Growth of Global PV Markets in 2023 Expected
Appendix Strong Growth of Global PV Markets in 2023 Expected Country 2019 2020 2021 2022 2023e Germany 4.0 4.8 5.3 7.3 10 – 13 Spain 4.7 2.6 3.8 6.9 7 – 10 Europe other 13.0 13.0 19.9 28.8 33 – 37 Europe total 21.7 21.2 29.0 43.0 50 – 60 USA 13.3 19.2 25 20.2 30 – 35 Japan 7.5 8.2 7.5 6.5 6–8 China
Slide 19: 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 2020 2021 2022 2023 Source: CRU, Si-Metal Spot FD Europe Source: EEX, Baseload Front Contract Avg. Month VAM (€/mt) Natural Gas (€/MWh) 4,000 250 3
Slide 20: 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