Wacker Chemie AG H1 2025: Key Takeaways
Wacker Chemie AG: Q2 2025 Financial Results
Presented by Joerg Hoffmann, CFA – Head of Investor Relations

In this detailed financial update, Joerg Hoffmann, CFA, Head of Investor Relations at Wacker Chemie AG, presents the company’s performance for Q2 2025. While the group navigates persistent macroeconomic headwinds, FX volatility, and softer demand, Wacker remains strategically focused and financially stable with a strong balance sheet and proactive measures to improve profitability.

📊 Q2 2025 Financial Summary:
Metric      Q2 2025   Q2 2024   YoY Change
Sales       €1.41bn    €1.47bn    -4%
EBITDA      €114m    €155m    -26%
EBIT        -€11m    €38m    n.a.
Net Income    -€19m    €35m    n.a.
EBITDA Margin   8.1%    10.5%
CapEx       €96m    €177m    -46%
Net Financial Debt €1.14bn   €661m    +72%

Joerg Hoffmann attributed the earnings decline primarily to weak volume and pricing effects, unfavourable FX developments, and a planned turnaround in Polymers. Additionally, elevated working capital and dividend payments contributed to the higher net debt.

🌍 Strategic Context & Outlook:
Due to continued geopolitical uncertainty, trade-related volatility, and a challenging global economic environment, Wacker has lowered its full-year 2025 guidance:

• Sales now expected between €5.5–5.9 billion (previously €6.1–6.4 billion)

• EBITDA expected between €500–700 million (down from €700–900 million)

  
  

To address these challenges, Wacker is implementing a 3-part strategy:
Growth: Intensify sales and innovation focus
Cash: Optimise working capital and reduce investment
Cost: Improve productivity and utilisation rates across sites

🔬 Segment Performance Highlights:
🧪 Silicones
Sales: €713m | EBITDA: €104m

• Volumes higher YoY, but pricing and FX impacts continued

• Supported by insurance compensation for supply chain disruptions

• FY outlook: sales and EBITDA at prior-year level

  
  

🧱 Polymers
Sales: €363m | EBITDA: €40m

• Weaker construction demand in Europe and China

• VAM turnaround impacted results

• FY outlook: slight sales decline, stable margins

  
  

🧫 Biosolutions
Sales: €87m | EBITDA: €5m

• Market softness continued, though the BENEO partnership for human milk oligosaccharides was initiated

• FY outlook: stable sales and EBITDA

  
  

☀️ Polysilicon
Sales: €218m | EBITDA: €34m

• Strong semi-grade sales, but solar volumes down due to U.S. tariffs and policy uncertainty

• Focus remains on cost and cash management

• FY outlook: flat sales, EBITDA ~€100m

  
  

💰 Balance Sheet & Liquidity:

• Equity: €4.5bn (down €335m due to FX and dividend)

• Liquidity: €796m cash and securities

• CapEx: €96m in Q2, aligned with strategic spend reduction

• Pension liabilities: reduced to €692m
  Wacker’s financial health remains strong, with ample liquidity, although net debt rose to support dividends and investments.

  
  

🌱 Sustainability & ESG Progress:

• Product carbon footprints (PCFs) are now provided to customers

• Progress in reducing CO₂e emissions, water, and energy consumption

• Targets remain in place for Net Zero by 2045

• Continued focus on diversity, supplier sustainability, and safety

🔭 Outlook & Key Message from Joerg Hoffmann:

▶️ Other videos: 

Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/ 

Company Presentation: https://seat11a.com/investor-relations-company-presentation/ 

Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/ 

Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ 

ESG Presentation: https://seat11a.com/investor-relations-esg/ 

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