In 2008, WACKER forged ahead, building on its prior-year successes, with new sales and earnings records.
Legal Structure of the WACKER Group
In November 2005, WACKER became a stock corporation (AG) under German law headquartered in Munich. Wacker Chemie AG holds a direct or indirect stake in 64 companies belonging to the WACKER Group. The consolidated financial statements cover 57 fully consolidated companies. A further seven companies accounted for using the equity method are included.
Accounting
WACKER prepares its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) valid on the reporting date, and interpretations of the International Financial Reporting Interpretations Committee (IFRIC), as used in the European Union, as well as with supplementary rulings of Section 315a, Subsection 1 of the German Commercial Code (HGB). See further details on Accounting Principles