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WACKER Modified Forecast for Declining Sales. (July 17, 2023-July 23, 2023)

WACKER Modified Forecast for Declining Sales. (July 17, 2023-July 23, 2023)

Editor:ACMI-Silicon Jul-27-2023

WACKER has modified its forecast for 2023. Christian Hartel, the President and CEO of WACKER, said, “Our expectations have declined primarily due to ongoing weak customer demand in a large number of industries, continuing inventory-reduction measures by customers and the lower year-over-year prices for many of our products.” The company expects that Group sales are likely to come in between €6.5 billion and €6.8 billion (previous guidance: between €7 billion and €7.5 billion). Full-year EBITDA for 2023 is now expected to be between €800 million and €1.0 billion (previous guidance: between €1.1 billion and €1.4 billion). These figures are below current average market expectations, with Group sales reaching €7.0 billion and EBITDA €1.1 billion (source: Vara Research, July 12, 2023).