Wacker Chemie AG: WACKER Lowers Annual Forecast

München (pta033/18.07.2023/17:55 UTC+2)

Munich, July 18, 2023 – Based on its latest estimates made today, Wacker Chemie AG (WACKER) expects key financial performance indicators for 2023 to be lower than previously projected. This is 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 the company's products. A recovery in demand is yet to be seen. WACKER now expects this weak demand to continue in the second half of the year.

Specifically, WACKER now has the following expectations:

Group sales for 2023 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 is now expected to range 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). WACKER's forecast for the 2023 EBITDA margin has not changed; it is likely to be substantially lower than last year. ROCE is projected to be below the cost of capital (previous guidance: above the cost of capital, substantially lower than last year). Projections for capital expenditures, net cash flow, net financial debt and depreciation/amortization are unchanged.

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Emitter:	Wacker Chemie AG Hanns-Seidel-Platz 4 81737 München Germany
Contact Person:	Jörg Hoffmann
Phone:	+49 89-6279-1633
E-Mail:	investor.relations@wacker.com
Website:	www.wacker.com
ISIN(s):	DE000WCH8881 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Hannover, Munich, Stuttgart, Tradegate