In 2008, WACKER POLYSILICON forged ahead, building on its prior-year successes. Divisional sales climbed 81.2% to €828.1 million (2007: €456.9 million). Strong demand for polysilicon continued to drive growth. Higher prices fueled sales, as did higher sales volumes stemming from production-capacity expansion. Polysilicon output rose over 40% against 2007, reaching 11,900 metric tons. Volumes that could be freed up at short notice were sold at attractive terms on the polysilicon market throughout 2008. For the first time, growth was boosted by the WACKER SCHOTT Solar joint venture, which – thanks to its new Jena-based production facility for multicrystalline silicon wafers – generated double-digit million sales.
Strong Sales and Results Gains Due to Higher Sales Volumes
Despite higher energy and raw material costs, EBITDA grew even more than sales. EBITDA soared 132% to €422.0 million (2007: €182.2 million). The EBITDA margin likewise increased, reaching 51.0% (2007: 39.9%).
As in the past, the division’s year-on-year investments rose substantially. Capital expenditures increased 58% to €410.3 million (2007: €259.5 million). The investment program mainly targeted the ongoing expansion of Burghausen’s polysilicon production capacities. “Expansion Stage 7” came fully on stream in late June 2008, six months ahead of schedule. The planned nominal capacity of 4,500 metric tons per year was reached in late December 2008.
In October 2008, WACKER decided to build a new polysilicon production plant with an annual nominal capacity of 10,000 tons in Nünchritz (Germany). Full operational capacity is scheduled for year-end 2011. Investments for the project amount to €760 million. Another decision made in October 2008 was to increase the nominal capacity of Burghausen’s “Expansion Stage 8,” which is currently under construction. Annual capacity is set to increase to 10,000 tons, instead of the original 7,000. WACKER is investing €100 million there. Full capacity utilization is expected by year-end 2010. Thanks to these and other ongoing expansion measures, WACKER’s annual polysilicon capacity will rise from today’s 15,000 metric tons to 35,500 tons by year-end 2011.
Due to production expansions, the number of WACKER POLYSILICON employees rose to 1,289 by December 31, 2008 (December 31, 2007: 1,003).
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Key Data: WACKER POLYSILICON | |||||
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€ million |
2008 |
2007 |
2006 |
2005 |
2004 |
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Total sales |
828.1 |
456.9 |
325.6 |
288.1 |
258.8 |
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EBITDA |
422.0 |
182.2 |
118.3 |
90.2 |
74.5 |
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EBIT |
349.8 |
135.0 |
88.8 |
66.2 |
46.7 |
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Capital expenditures |
410.3 |
259.5 |
148.5 |
67.6 |
34.3 |
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R&D expenses |
5.4 |
6.3 |
5.1 |
5.3 |
6.0 |
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Employees (number as of December 31) |
1,289 |
1,003 |
875 |
832 |
769 |
