DGAP-Adhoc: Wacker Chemie AG: EBITDA for 2018 expected to be below guidance due to still outstanding insurance compensation

2019. január 18., péntek, 10:35





DGAP-Ad-hoc: Wacker Chemie AG / Key word(s): Profit Warning/Annual Results


Wacker Chemie AG: EBITDA for 2018 expected to be below guidance due to still outstanding insurance compensation


18-Jan-2019 / 10:35 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Disclosure of Insider Information as per
Article 17 of MAR



Wacker Chemie AG / Financial Results



EBITDA for 2018 expected to be below guidance due to still outstanding insurance compensation



Munich, January 18, 2019, 10.05 CET - According to today"s preliminary figures, Wacker Chemie AG anticipates EBITDA (earnings before interest, taxes, depreciation and amortization) of about EUR930 million for 2018. That is below recent EBITDA guidance of a mid-single-digit percentage rise versus the previous year"s EUR1,014.1 million.



The reason for the EBITDA decrease is that 2018 earnings guidance included insurance compensation that is still outstanding for the incident at Charleston, Tennessee. As polysilicon production at Charleston reached full capacity only in early December 2018, there was not enough time to conclude talks with the insurer for 2018.



WACKER continues to expect that insurance compensation will fully cover both the repair work at the site and the business interruption loss. This is expected during 2019.



Due to the aforementioned reason, the Group"s net income and net financial debt for 2018 will differ from recent guidance, too. Net income from continuing operations is now expected to be slightly higher than a year earlier (previous guidance: substantially higher than the year before). Net financial debt is likely to be somewhat above EUR600 million at year-end 2018 (previous guidance: about EUR500 million).



WACKER will publish its final figures for 2018 on March 19, 2019.



Issuer and Contact



Wacker Chemie AG

Hanns-Seidel-Platz 4

D-81737 Munich

Germany



Investor Relations

Joerg Hoffmann

Tel. +49 89 6279 1633

Fax. +49 89 6279 2933
investor.relations@wacker.com
www.wacker.com



Additional Information



ISIN: DE000WCH8881
German WKN number: WCH888
Deutsche Boerse: WCH
Bloomberg ticker code CHM/WCH:GR
Reuters ticker code: CHE/WCHG.DE
Listing: Official market (Prime Standard)

on the Frankfurt Stock Exchange



Disclaimer:
This publication contains forward-looking statements based on assumptions and estimates of WACKER"s Executive Board. Although we assume the expectations in these forward-looking statements are realistic, we cannot guarantee they will prove to be correct. The assumptions may harbor risks and uncertainties that may cause the actual figures to differ considerably from the forward-looking statements. Factors that may cause such discrepancies include changes in the economic and business environment, variations in exchange and interest rates, the introduction of competing products, lack of acceptance for new products or services, and changes in corporate strategy. WACKER does not plan to update its forward-looking statements, nor does it assume the obligation to do so.



This document includes supplemental financial measures (not clearly defined in the applicable financial reporting framework) that are or may be alternative performance measures (APM). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of WACKER"s net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Explanations of financial measures used can be found in the Annual Report 2017 of Wacker Chemie AG which is available for download under www.wacker.com.











18-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Wacker Chemie AG

Hanns-Seidel-Platz 4

81737 München

Germany
Phone: 0049-89-6279-1633
Fax: 0049-89-6279-2933
E-mail: investor.relations@wacker.com
Internet: www.wacker.com
ISIN: DE000WCH8881
WKN: WCH888
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange





 
End of Announcement DGAP News Service




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