Overall Economic Risks

The economic slump left its mark on WACKER, with sales and earnings declining significantly in 2009. We aligned our planning to the altered underlying conditions. Additionally, we were able to counter reduced demand at some of our divisions via numerous measures, such as production-facility shutdowns, short-time work and restructuring measures. For 2010, we anticipate a slow global economic recovery. Nevertheless, there remain economic-downturn risks that could dampen this trend. If the US dollar – the world’s main reserve currency – weakens further, we will face reduced sales opportunities in dollar-denominated regions. If the global economy recovers more strongly than anticipated, this could negatively impact raw-material prices.