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Wacker Chem announces 2020 results, profit down 15% year-on-year

 Last Update: 2022-08-26
 Source: Internet
 Author: User

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On February 2, 2021 Wacker Chemie AG (Wacker) announced its results for 2020

Wacker Chemie's sales fell sharply in the second quarter of 2020 due to the global pandemic, and in the third and fourth quarters of 2020, Wacker Chemie was able to make up for the second quarter due to strong market demand for construction and polysilicon part of the loss, but not fully recovering the loss

Preliminary figures show that WACKER CHEMICALS GROUP achieved earnings before interest, tax, depreciation and amortization (EBITDA) of EUR 665 million in fiscal 2020 (2019: EUR 783 million), a decrease of 15 percent compared to the previous year

In 2019, Wacker Chemie included an insurance claim of 112.
5 million euros from an accident at its Charleston production site in the United States in 2017 as production costs

Wacker Chemie's depreciation in fiscal year 2020 was approximately EUR 400 million (2019: EUR 1.
32 billion), and the full-year 2020 profit was EUR 200 million (2019: EUR -630 million)

According to preliminary figures, Wacker Chemie's investments in fiscal 2020 totalled EUR 225 million (2019: EUR 380 million), a decrease of 41 percent year-on-year

The chemical business of Wacker Chemie developed differently in each market segment in fiscal 2020

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