Wacker Silicones Posts Higher Sales, Earnings on Cost Savings

Wacker Silicones has reported a 6% year-on-year increase in sales to €757 million in the second quarter, with division earnings (EBITDA) rising 18% to €123 million. The gains were driven by lower operating expenses, an improved product mix, and higher selling prices, as well as the company’s PACE cost-savings and efficiency programme. At the group level, Wacker reported a 7% increase in second-quarter sales to €1.5 billion and an 85% year-on-year increase in earnings to €211 million. CEO Christian Hartel attributed the stronger quarter to the company’s ‘strong operating performance’ and the impact of the PACE programme, but noted that market conditions remain challenging due to weak demand from the automotive and construction sectors. The company has responded by increasing prices for silicones and polymers, and warned of intensifying competition from Asia amid significant industry overcapacity.