Slide 1: FY 2022 – Conference Call Note
CREATING TOMORROW’S SOLUTIONS FY 2022 – Conference Call Note Dr. Christian Hartel (CEO), Dr. Tobias Ohler (CFO) March 14, 2023 FY 2022 – Conference Call Note March 14, 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 man
Slide 3: WACKER FY 2022 Highlights
WACKER FY 2022 Highlights Financials Operations Sustainability €8.21bn Pricing Management Progress Made drives Chemicals EBITDA up 45% to Net Zero Sales (+32% yoy) Driven by pricing yoy despite significant headwinds CO2 emissions1 11% Record lower yoy, renewable €2.08bn €25.18 Higher Polysilicon Pri
Slide 4: Record High Dividend Proposed for FY 2022
Record High Dividend Proposed for FY 2022 Dividend (€) and Payout Ratio to Shareholders €12.00 €8.00 €4.50 €2.00 €2.50 €1.50 €2.00 €2.00 €2.00 €0.50 €2.50 €0.50 2013 2014 2015 2016 2017 2018 2019 2020 2021 20222 >100% 38% 40% 56% 52%1 51% n.a 53% 49% 48% Bonus Regular Dividend % Payout Ratio3 1) Exc
Slide 5: A New Phase with New Group Targets for 2030
A New Phase with New Group Targets for 2030 Chemicals Financial KPIs 19% 27% 35% €1,165m Faster Growth, Bolder Strategic Growth Projects €710m Moves, High Profitability SILICONES: Specialties 21% SALES: >€10bn €440m POLYMERS: Tandems (VAE+DPP) 19% EBITDA Margin: >20% BIOSOLUTIONS: Biologic
Slide 6: Strategic Investments for Future Growth
Strategic Investments for Future Growth SILICONES POLYMERS BIOSOLUTIONS POLYSILICON Burghausen & Nünchritz Nanjing Halle: mRNA Competence Burghausen: semiconductor Center CapEx: >€100m CapEx: >€100m CapEx: >€100m Completion: 2023-24 Completion: 2023 CapEx: >€100m Completion: 2023-26
Slide 7: Our Growth Formula: Specialties, Resilience and Sustainability
Our Growth Formula: Specialties, Resilience and Sustainability Outlook for 2023 FY 2023 Group Guidance Sales of €7.0 – 7.5bn EBITDA of €1.1 – 1.4bn CapEx of around €650m Q1 Trading Update Sales of about €1.7bn with EBITDA in the range of €250 – 280m Sequentially, Chemicals EBITDA1 higher,
Slide 8: Profit & Loss Statement
Profit & Loss Statement Record EPS with Pricing Offsetting Unprecedented Headwinds Profit & Loss (€m) Comments FY 2022 FY 2021 Sales +32% yoy Volume/Mix -1%, Price +29%, FX +4% Sales 8,209 6,208 EBITDA +35% yoy Gross profit from sales 2,161 1,673 Record result despite unprecedented rise in raw m
Slide 9: Resilient Financials with €5bn in Equity and €2bn in Liquidity
Balance Sheet Composition Resilient Financials with €5bn in Equity and €2bn in Liquidity Balance sheet (%) Characteristics 12/31/22 Assets Liabilities Cash & Securities: High level of liquidity at €2.0bn unchanged yoy €8.1bn €9.4bn €8.1bn €9.4bn Working Capital: +€450m yoy on higher sales / unpr
Slide 10: Silicones: FY EBITDA +59% YoY to €876m
SILICONES FY EBITDA +59% YoY to €876m, Driven by Strong Demand, Mix and Pricing Sales (€m) Highlights +33% +7% 3,453 Specialties pricing largely stable, standards under 657 706 2,599 pressure towards year-end Q4 2021 Q4 2022 FY 2021 FY 2022 Strong demand / very high utilization in H1 shifted to
Slide 11: Polymers: FY EBITDA +14% YoY to €289m
POLYMERS FY EBITDA +14% YoY to €289m, Despite Unprecedented Raw Material Headwinds Sales (€m) Highlights -7% +19% 451 421 1,674 1,996 Sales supported by higher prices and strong demand in H1 H2 with low utilization rates, low order intake due to Q4 2021 Q4 2022 FY 2021 FY 2022 destocking and sea
Slide 12: Biosolutions: FY Sales Growth Driven by BioIngredients
BIOSOLUTIONS FY Sales Growth Driven by BioIngredients, EBITDA Burdened by Upfront Costs Sales (€m) Highlights +2% +12% 80 81 296 331 BioIngredients sales growth driven by strong demand for cyclodextrins and cysteine Q4 2021 Q4 2022 FY 2021 FY 2022 BioPharma lower due to ongoing effects of a form
Slide 13: Polysilicon: FY EBITDA +26% YoY to €826m
POLYSILICON FY EBITDA +26% YoY to €826m on Strong Pricing and Higher Semi Volumes Sales (€m) +50% Highlights +22% 2,287 574 1,530 Strong demand and very good solar ASP 470 Continued mix improvements with higher Semi volumes & Q4 2021 Q4 2022 FY 2021 FY 2022 prices EBITDA with significantly hig
Slide 14: Net Financial Position
Net Financial Position Record Gross Cash Flow Supports Step-Up in Growth CapEx and Dividends Net Financial Position Bridge per 12/31/2022 (€m) 1,126 -687 547 -397 409 -140 -39 Net financial asset Cash flow Cash flow from Dividend Lease Exchange-rate Net financial asset as of from operating long-term
Slide 15: Q1 Trading Update
Q1 Trading Update Sales of about €1.7bn with EBITDA in the Range of €250 – 280m SILICONES POLYMERS Sales and EBITDA sequentially higher excluding Sales at Q4 level with EBITDA sequentially higher revaluation effects in Q41 Demand from Construction with a slow start to the year EBITDA held ba
Slide 16: FY 2022 – Q&A Session
FY 2022 – Q&A Session FY 2022 – Conference Call Note March 14, 2023 15
Slide 17: Guidance FY 2023
Appendix Guidance FY 2023 In €m FY 2022 Outlook 2023 Sales 8,209 €7,000 – 7,500m EBITDA 2,081 €1,100 – 1,400m EBITDA margin (%) 25.4 Substantially lower than last year Net cash flow 439 Positive, substantially lower than last year CapEx 547 Around €650m Net financial Assets 409 Low net financial deb
Slide 18: WACKER FY 2022 Results
Appendix WACKER FY 2022 Results In €m FY 2022 FY 2021 % YoY Sales 8,209 6,208 32 EBITDA reported 2,0811 1,539 35 EBITDA-Margin 25.4% 24.8% - EBIT 1,679 1,134 48 EBIT-Margin 20.4% 18.3% - Net income for the period 1,282 828 55 CapEx 547 344 59 Net cash flow 439 761 -42 Net Asset Position 409 547 -25
Slide 19: FY 2022 Results – Breakdown by Business
Appendix FY 2022 Results – Breakdown by Business FY 2022 FY 2021 Q4 2022 Q4 2021 EBITDA EBITDA EBITDA EBITDA In €m / % SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN SALES EBITDA MARGIN Chemicals 5,449 1,165 21.4 4,273 806 18.9 1,128 168 14.9 1,109 203 18.3 SILICONES 3,453 876 25.4 2,59
Slide 20: Progress Made on Achieving 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 21: 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 7.9 7-10 Spain 4.7 2.6 3.8 7.5 7-10 Europe other 13.0 13.0 19.9 29.6 36-40 Europe total 21.7 21.2 29.0 45.0 50-60 USA 13.3 19.2 25 18.6 25-30 Japan 7.5 8.2 7.5 6.5 6-8 China 30.1 48.2 5
Slide 22: 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 23: Modelling Help
Appendix Modelling Help Siltronic AG Investment income is reported in WACKER income statement (P&L) Investment income equals 30.8% of the net income attributable to the shareholders of Siltronic less the PPA (approx. €4-5m per quarter). Others Segment Model with -€20m EBITDA for 2023 before Si
Slide 24: ROCE
Appendix ROCE EBIT (€M) 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Chemicals (SILICONES + POLYMERS) 217 264 248 379 505 530 645 529 506 620 991 BIOSOLUTIONS 18 17 14 21 26 26 10 14 22 21 -5 POLYSILICON 201 0 305 163 -117 -88 -257 -1.013 -148 529 705 Group 258 114 443 473 366 424 390 -536
Slide 25: WACKER: Issuer, Contact and Additional Information
WACKER: Issuer, Contact and Additional Information Issuer and Contact Financial Calendar INVESTOR RELATIONS CONTACTS 04/28/23 Q1 2023 Results 05/17/23 AGM Joerg Hoffmann, CFA Tel. +49 89 6279 1633 | joerg.hoffmann@wacker.com 07/27/23 Q2 2023 Results 10/26/23 Q3 2023 Results Scott McCollister Tel. +4