23 Breakdown of Shareholdings /
Key Indicators of Joint Ventures and Associated Companies

Unless otherwise stated, the following figures for international subsidiaries were calculated in accordance with IFRS.

Affiliated Companies

 

Serial number

 

Activity

 

Identifier*

 

Equity in € ’000

 

Net income for the year in € ’000

 

Capital share in %

 

Held by serial number1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

Identifier:

a)

Wacker Chemie AG has concluded profit-and-loss or loss transfer agreements with these entities, either directly or indirectly.

b)

The shareholders of Wacker Chemie AG have agreed not to disclose the financial statements of these entities (Section 264, Subsection 3 of the German Commercial Code).

 

1

Serial number 0: Wacker Chemie AG

2

Prior-year figures

3

Only direct holdings in the relevant parent company are listed

4

Share of special assets; as per IFRS

Germany

1

 

Alzwerke GmbH, Munich

 

Other

 

a), b)

 

7,160

 

 

100.00

 

0

2

 

DRAWIN Vertriebs-GmbH, Hohenbrunn

 

Silicones

 

a), b)

 

5,016

 

 

100.00

 

0

3

 

W.E.L.T. Reisebüro GmbH, Munich2

 

Other

 

 

 

120

 

64

 

51.00

 

0

4

 

Wacker-Chemie Versicherungsvermittlung GmbH, Munich

 

Other

 

a), b)

 

26

 

 

100.00

 

0

5

 

Wacker-Chemie Beteiligungsfinanzierungs GmbH, Munich

 

 

 

 

30

 

 

100.00

 

0

6

 

Wacker Polysilicon Geschäftsführungs GmbH, Nünchritz

 

 

 

 

27

 

 

100.00

 

0

7

 

Wacker-Chemie Erste Venture GmbH, Munich

 

 

 

 

80

 

 

100.00

 

0

8

 

Wacker-Chemie Zweite Venture GmbH, Munich

 

 

 

 

36

 

 

100.00

 

0

9

 

Wacker-Chemie Dritte Venture GmbH, Munich

 

Holding

 

a), b)

 

387,727

 

 

100.00

 

0

10

 

Wacker-Chemie Sechste Venture GmbH, Munich

 

 

 

 

28

 

 

100.00

 

0

11

 

Wacker Biotech GmbH, Jena

 

Biosolutions

 

a), b)

 

290

 

 

100.00

 

0

12

 

Scil Proteins Production GmbH, Halle

 

Biosolutions

 

a), b)

 

10,311

 

459

 

100.00

 

11

13

 

Wacker-Chemie Siebte Venture GmbH, Munich

 

 

 

 

25

 

 

100.00

 

0

14

 

Wacker-Chemie Achte Venture GmbH, Munich

 

 

a), b)

 

2,753

 

 

100.00

 

0

15

 

Siltronic AG, Munich

 

Siltronic

 

a), b)

 

448,516

 

 

90.00

 

9

 

 

 

 

 

 

 

 

 

 

 

 

10.00

 

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rest of Europe

16

 

Wacker Chemicals Finance B.V., Krommenie / Amsterdam, Netherlands

 

Holding

 

 

 

1,190,280

 

293

 

100.00

 

0

17

 

Wacker-Chemicals Ltd., Egham, Surrey, Great Britain

 

Sales and distribution

 

 

 

885

 

732

 

100.00

 

0

18

 

Wacker-Chemie Italia S.r.L., Peschiera Borromeo / Milan, Italy

 

Sales and distribution

 

 

 

2,312

 

703

 

100.00

 

0

19

 

Wacker-Chemie Benelux B.V., Krommenie / Amsterdam, Netherlands

 

Sales and distribution

 

 

 

357

 

339

 

100.00

 

16

20

 

Wacker Chimie S.A.S., Lyon, France

 

Sales and distribution

 

 

 

521

 

307

 

100.00

 

0

21

 

Wacker-Kemi AB, Solna, Sweden

 

Sales and distribution

 

 

 

374

 

325

 

100.00

 

0

22

 

Wacker Química Ibérica, S.A., Barcelona, Spain

 

Sales and distribution

 

 

 

354

 

216

 

100.00

 

0

23

 

Siltronic Holding International B.V., Krommenie / Amsterdam, Netherlands

 

Holding

 

 

 

280,610

 

23,669

 

100.00

 

15

24

 

Wacker-Chemie S.r.o., Prague, Czech Republic

 

Sales and distribution

 

 

 

3,168

 

213

 

100.00

 

0

25

 

Wacker-Chemie Polska Sp. Z o.o., Warsaw, Poland

 

Sales and distribution

 

 

 

429

 

301

 

100.00

 

0

26

 

Wacker-Chemie Hungária Kft., Budapest, Hungary

 

Sales and distribution

 

 

 

449

 

270

 

100.00

 

0

27

 

OOO Wacker Chemie RUS, Moscow, Russia

 

Sales and distribution

 

 

 

1,442

 

1,036

 

100.00

 

0

28

 

Wacker Chemicals Norway AS, Holla, Norway

 

Silicones

 

 

 

38,363

 

3,113

 

100.00

 

16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Americas

29

 

Wacker Química do Brasil Ltda., São Paulo, Brazil

 

Silicones, Polymers

 

 

 

7,352

 

-2,433

 

100.00

 

0

30

 

Wacker Mexicana S. A. de C. V., Mexico, D. F., Mexico

 

Sales and distribution

 

 

 

1,408

 

715

 

100.00

 

0

31

 

Wacker Chemical Corp., Adrian, Michigan, USA

 

Silicones, Polymers, Biosolutions

 

 

 

1,248,402

 

6,880

 

100.00

 

16

32

 

Wacker Polysilicon North America, LLC, Cleveland, Tennessee, USA

 

Polysilicon

 

 

 

908,031

 

-60,642

 

100.00

 

31

33

 

Siltronic Corp., Portland, Oregon, USA

 

Siltronic

 

 

 

10,987

 

6,396

 

100.00

 

23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asia

34

 

Wacker Chemicals (South Asia) Pte. Ltd., Singapore

 

Sales and distribution

 

 

 

1,621

 

147

 

100.00

 

0

35

 

Wacker Chemicals Hong Kong Ltd., Hong Kong, China

 

Sales and distribution

 

 

 

2,891

 

160

 

100.00

 

0

36

 

Wacker Metroark Chemicals Pvt. Ltd., Parganas, India

 

Silicones

 

 

 

35,056

 

6,925

 

51.00

 

0

37

 

Wacker Chemicals Korea Inc., Seoul, South Korea

 

Silicones, Polymers

 

 

 

28,051

 

1,793

 

100.00

 

16

38

 

Wacker Chemicals East Asia Ltd., Tokyo, Japan

 

Sales and distribution

 

 

 

55

 

-65

 

100.00

 

0

39

 

Wacker Chemicals Trading (Shanghai) Co. Ltd., Shanghai, China

 

Silicones

 

 

 

10,213

 

385

 

100.00

 

35

40

 

Wacker Chemicals Fumed Silica (ZJG) Holding Co. Private Ltd., Singapore

 

Holding

 

 

 

47,919

 

-14

 

51.00

 

0

41

 

Wacker Chemicals Fumed Silica (ZJG) Co. Ltd., Zhangjiagang, China

 

Silicones

 

 

 

12,267

 

640

 

51.00

 

40

42

 

Wacker Chemicals (Zhangjiagang) Co. Ltd., Zhangjiagang, China

 

Silicones

 

 

 

39,656

 

3,259

 

100.00

 

44

43

 

Wacker Polymer Systems (WUXI) Co. Ltd., Wuxi, China

 

Biosolutions

 

 

 

5,559

 

686

 

100.00

 

44

44

 

Wacker Chemicals (China) Company Ltd. (Holding), Shanghai, China

 

Sales and distribution

 

 

 

75,997

 

-10,431

 

100.00

 

0

45

 

Wacker Chemicals (Nanjing) Co. Ltd., Nanjing, China

 

Polymers, Biosolutions

 

 

 

49,935

 

-304

 

100.00

 

44

46

 

Wacker Chemicals India Ltd., Mumbai, India

 

Sales and distribution

 

 

 

3,217

 

78

 

100.00

 

16

47

 

Siltronic Singapore Pte. Ltd., Singapore

 

Siltronic

 

 

 

111,251

 

28,687

 

100.00

 

23

48

 

Siltronic Asia Pte. Ltd., Singapore

 

Siltronic

 

 

 

484

 

412

 

100.00

 

23

49

 

Siltronic Japan Corp., Hikari, Japan

 

Siltronic

 

 

 

-12,338

 

-5,800

 

100.00

 

23

50

 

Siltronic Silicon Wafer Pte. Ltd., Singapore

 

Siltronic

 

 

 

-6,438

 

-51,981

 

77.70

 

23

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other regions

51

 

Wacker Chemicals Australia Pty. Ltd., Melbourne, Australia

 

Sales and distribution

 

 

 

568

 

155

 

100.00

 

0

52

 

Wacker Chemicals Middle East Ltd., Dubai, UAE

 

Sales and distribution

 

 

 

3,590

 

798

 

100.00

 

0

Joint Ventures/Associated Companies3

 

Serial number

 

Activity

 

Identifier*

 

Equity in € ’000

 

Net income for the year in € ’000

 

Capital share in %

 

Held by serial number1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

Identifier:

a)

Wacker Chemie AG has concluded profit-and-loss or loss transfer agreements with these entities, either directly or indirectly.

b)

The shareholders of Wacker Chemie AG have agreed not to disclose the financial statements of these entities (Section 264, Subsection 3 of the German Commercial Code).

 

1

Serial number 0: Wacker Chemie AG

2

Prior-year figures

3

Only direct holdings in the relevant parent company are listed

4

Share of special assets; as per IFRS

53

 

Wacker Asahi Kasei Silicone Co. Ltd., Tokyo, Japan

 

Silicones

 

 

 

12,101

 

2,524

 

50.00

 

0

54

 

Dow Corning (ZJG) Holding Co. Private Ltd., Singapore

 

Silicones

 

 

 

350,163

 

-3,267

 

25.00

 

0

55

 

Wacker Dymatic (Shunde) Co. Ltd., Guangdong, China

 

Silicones

 

 

 

21,646

 

5,259

 

50.00

 

44

Structured Entity

 

Serial number

 

Activity

 

Identifier*

 

Equity in € ’000

 

Net income for the year in € ’000

 

Capital share in %4

 

Held by serial number1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*

Identifier:

a)

Wacker Chemie AG has concluded profit-and-loss or loss transfer agreements with these entities, either directly or indirectly.

b)

The shareholders of Wacker Chemie AG have agreed not to disclose the financial statements of these entities (Section 264, Subsection 3 of the German Commercial Code).

 

1

Serial number 0: Wacker Chemie AG

2

Prior-year figures

3

Only direct holdings in the relevant parent company are listed

4

Share of special assets; as per IFRS

56

 

WMM-Universal-Fonds, Germany

 

 

 

 

197,884

 

1,082

 

100.00

 

0

The Group applies the equity method to account for the above-mentioned joint ventures and associates. Their impact on the Group’s earnings, net assets and financial position is not material. If loans have been made to joint ventures and associates by shareholders, extinguishment of these loans takes precedence over the distribution of dividends.

The following table shows the change in the total carrying amount of the investments in the reporting period, calculated using the equity method:

Joint Ventures Accounted for Using the Equity Method

  Download XLS

 

 

 

 

 

€ million

 

2014

 

2013

 

 

 

 

 

Carrying amount of the investments in accordance with the equity method

 

 

 

 

At the beginning of the year

 

15.9

 

37.6

Share of profit / loss for the period

 

3.7

 

-16.1

Share of change in other equity

 

1.0

 

-2.1

Overall result of the companies

 

4.7

 

-18.2

Capital measures / dividends / changes

 

-4.0

 

-3.5

At the end of the year

 

16.6

 

15.9

 

 

 

 

 

The Singapore-based joint venture Siltronic Samsung Wafer Pte. Ltd. was fully consolidated as of January 24, 2014 following the takeover of a majority of shares. As of December 31, 2013, the joint venture’s equity amounted to € -41.5 million and its net income for the year to € -84.3 million. As of the same date, WACKER held 50 percent of the shares in Siltronic Samsung Wafer Pte. Ltd. Attributable losses from the previous year amounting to € 20.6 million were offset with a shareholder loan classified as a net investment.

Associated Companies Accounted for Using the Equity Method

  Download XLS

 

 

 

 

 

€ million

 

2014

 

2013

 

 

 

 

 

Carrying amount of the investments in accordance with the equity method

 

 

 

 

At the beginning of the year

 

3.0

 

3.4

Share of profit / loss for the period

 

-0.8

 

0.7

Share of change in other equity

 

1.7

 

-1.1

Overall result of the companies

 

0.9

 

-0.4

At the end of the year

 

3.9

 

3.0

 

 

 

 

 

The following shows the key figures for companies accounted for using the equity method. Deviations between share of net income and the result from investments in joint ventures and associates, and between share of equity and the carrying amount of investments in joint ventures and associates accounted for using the equity method are primarily the result of fair-value adjustments and amendments to WACKER’s accounting policies.

Key Figures for Joint Ventures

  Download XLS

 

 

 

 

 

€ million

 

2014

 

2013

 

 

Total

 

Attributable to WACKER

 

Total

 

Attributable to WACKER

 

 

 

 

 

 

 

 

 

Profit or loss from continuing operations

 

7.4

 

3.7

 

-74.9

 

-37.5

Post-tax profit or loss from discontinued operations

 

 

 

 

Other comprehensive income

 

2.0

 

1.0

 

-4.2

 

-2.1

Overall result

 

9.4

 

4.7

 

-79.1

 

-39.6

 

 

 

 

 

 

 

Key Figures for Associated Companies

  Download XLS

 

 

 

 

 

€ million

 

2014

 

2013

 

 

Total

 

Attributable to WACKER

 

Total

 

Attributable to WACKER

 

 

 

 

 

 

 

 

 

Profit or loss from continuing operations

 

-3.3

 

-0.8

 

2.7

 

0.7

Post-tax profit or loss from discontinued operations

 

 

 

 

Other comprehensive income

 

6.8

 

1.7

 

-4.4

 

-1.1

Overall result

 

3.5

 

0.9

 

-1.7

 

-0.4