At WACKER SILICONES, total sales for 2009 were down on the prior-year level – dropping 12.1% to €1.24 billion (2008: €1.41 billion). After a weak start to 2009, sales began to rise from the second quarter onward. The gains, however, did not fully compensate for the considerable shortfall back in Q1. Demand weakness left some production capacities underutilized. While sales developed positively in the medical technology and power transmission/distribution sectors, demand declined in other markets, including the construction, automotive and electronics sectors. Regional sales performance varied. The division posted a slight sales increase in Asia, but a decline in Europe (including Germany). In the Americas, sales almost reached the prior-year level.
On the EBITDA front, the downtrend was less pronounced. At €157.9 million (2008: €167.9 million), EBITDA fell 6.0% against 2008. Earnings profited from cost savings and lower energy and raw-material costs, but were hampered by weaker sales volumes and increased price pressure. The EBITDA margin rose slightly to 12.7% (2008: 11.9%).
Higher EBITDA Margin despite Sales Decline
| download table |
|
Key Data: WACKER SILICONES |
|
|
|
| ||||||
|
€ million |
2009 |
2008 |
2007 |
2006 |
2005 | |||||
|
|
|
|
|
|
| |||||
|
Total sales |
1,238.8 |
1,408.6 |
1,361.0 |
1,286.9 |
1,119.3 | |||||
|
157.9 |
167.9 |
226.9 |
231.9 |
211.0 | ||||||
|
33.5 |
86.3 |
144.6 |
147.8 |
111.5 | ||||||
|
Capital expenditures |
102.2 |
107.0 |
102.2 |
140.9 |
102.9 | |||||
|
R&D expenses |
26.9 |
31.5 |
35.9 |
34.4 |
33.4 | |||||
|
Employees (December 31, number) |
3,873 |
3,927 |
3,871 |
3,767 |
3,596 | |||||
2009’s investment focus was on expanding the Zhangjiagang site in China. Investments totaled €102.2 million, roughly matching the prior-year level (2008: €107.0 million). In October 2009, WACKER and Dow Corning started construction work on the second phase of their pyrogenic-silica production plant in Zhangjiagang. Additionally, WACKER DYMATIC Silicones (a joint venture between WACKER and China’s DYMATIC Chemicals Inc.) started up a new silicone emulsions facility in July. With an annual capacity of 4,500 metric tons, the production plant (together with admin facilities) is located at the joint venture’s new headquarters in the southern Chinese city of Shunde. The joint venture supplies China’s textile, fiber, and leather industries with silicone emulsions.
WACKER SILICONES had 3,873 employees on December 31, 2009 (December 31, 2008: 3,927).