Wacker Chemie Ag Ord (WKCMF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Orca Chemie AG conference call on our second quarter 2096 results. Christian Hartel, our CEO, and Tobias Ohler, our CFO, will take you through the presentation. The press release, our IR presentation, and the detailed financial tables are available on our website under Investor Relations. Management comments during this call include forward-looking statements involving risks and uncertainties. Please review the Safe Harbor Statement in today's presentation and the 2025 annual report for information on the relevant risk factors. Chris? Good afternoon, everyone. Thank you for joining us today. The market environment remained challenging in the second quarter. Demand was still subdued in many end markets, while geopolitical tensions added volatility to energy, raw materials and logistics costs. Against this backdrop, our focus was clear. Strength and competitiveness improve operating performance and maintain financial discipline. That focus delivered results. Group sales increased to 1.52 billion, up from 1.41 billion a year ago. EBTA, before the pension accounting effect, rose by 53% to 175 million, compared with the 114 million in last year's results. Our project on cost was the main driver of this improvement, supported by pricing, higher volumes, and better operating performance in the chemical sector. This was not the result of a broad market recovery. It was the result of actions within our control. Despite the uneven demand, volatile input costs, and currency headwinds, we protected margins by driving cost savings, and we adjusted prices when necessary to pass on higher cost. Reported EBTA was 211 million and includes a 37 million non-cash effect from introduction of a capital option in existing pension plans. So EBTA before specials amounted to 17...