DGAP-Adhoc: Wacker Chemie AG: WACKER Lowers Guidance for 2019

2019. október 15., kedd, 17:52

DGAP-Ad-hoc: Wacker Chemie AG / Key word(s): Change in Forecast

Wacker Chemie AG: WACKER Lowers Guidance for 2019

15-Oct-2019 / 17:52 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 / Full-Year Forecast

WACKER Lowers Guidance for 2019

Munich, October 15, 2019, 05.15 p.m. CEST - Based on its latest estimates made today, Wacker Chemie AG expects several key financial performance indicators for 2019 to be weaker than previously projected. The main reason is the continued absence of the polysilicon-price recovery that WACKER, in consensus with many market experts, anticipated for the second half of 2019. Additionally, the slowing global economic trend is dampening WACKER"s business.

In detail, WACKER now forecasts the following:

Group sales for full-year 2019 are likely to be on par with last year (previous guidance: mid-single-digit percentage increase). EBITDA is anticipated to be some 30 percent below last year"s level (previous guidance: 10 to 20 percent lower than a year ago). Full-year net income is expected to be slightly positive (previous guidance: substantially lower than last year). Net cash flow should be clearly positive, but lower than last year (previous guidance: clearly positive and substantially higher than last year).

WACKER"s forecast has not changed for the EBITDA margin, which is likely to be substantially lower than a year ago. Projections are also unchanged for capital expenditures, net financial debt, depreciation and ROCE. As with the previous forecast, WACKER"s guidance does not include proceeds from insurance compensation.

According to preliminary and unaudited figures, Group sales for Q3 2019 amount to about EUR1,270 million. WACKER expects third-quarter EBITDA of around EUR270 million. This sum includes special income of about EUR112 million in insurance compensation for the damage incurred following the incident at the Charleston site in 2017. The company booked this amount under the WACKER POLYSILICON division in the reporting quarter. WACKER will publish its interim report for Q3 2019 on October 24, 2019.

Issuer and Contact

Wacker Chemie AG

Hanns-Seidel-Platz 4

81737 Munich, Germany

Investor Relations

Joerg Hoffmann

Tel. +49 89 6279 1633

Fax: +49 89 6279-1179

Additional Information

ISIN: DE000WCH8881
Deutsche Boerse: WCH
Ticker, Bloomberg: CHM/WCH:GR
Ticker, Reuters: CHE/WCHG.DE
Listing: Frankfurt Stock Exchange (Frankfurter Wertpapierbörse), Official Market (Prime Standard)

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, among other things, 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.

15-Oct-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

Phone: 0049-89-6279-1633
Fax: 0049-89-6279-2933
E-mail: investor.relations@wacker.com
Internet: www.wacker.com
ISIN: DE000WCH8881
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 890559

End of Announcement DGAP News Service

890559  15-Oct-2019 CET/CEST

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