Organic growth and investment in promising markets are key elements of our corporate strategy. These priorities are reinforced through continuous and open communication with institutional and private investors and with analysts. In 2013, we presented our new equity story  “WACKER – The Next Five Years.” It covers our business strategy, key financial indicators and medium-term goals through to 2017, and explains recent market developments. On many occasions, Executive Board members attended events in person to answer questions from capital-market participants. There were 18 roadshows with a total of 30 roadshow days in Germany, Europe, the USA and Asia. We also held about 300 meetings both in person and via telephone, as well as some 35 group discussions, and we participated in various international conferences. WACKER gave presentations, for example, at the following events:

• Commerzbank: German Investment Seminar in New York
• Nomura Global Chemical Industry Leaders Conference in Venice
• Deutsche Bank: German, Swiss and Austrian Conference in Frankfurt
• Intersolar: Solar Trade Fair in Munich
• Commerzbank Sector Conference, Chemicals & Life Sciences in Frankfurt
• UBS: Best of Germany Conference in New York
• UniCredit/KeplerCheuvreux: 11th German Investment Conference 2013 in Munich
• Macquarie’s 6th Alternative Energy Conference in London
• Bank of America Merrill Lynch: European Chemicals Conference in London
• HSBC Luxembourg Conference in Luxembourg

On July 1, 2013, WACKER held its Capital Markets Day in London, at which the Executive Board presented its medium-term goals for the company to analysts and investors. WACKER aims to increase its sales by some 6 percent annually – to between € 6.0 billion and € 6.5 billion – by 2017. The 2017 target for earnings before interest, taxes, depreciation and amortization (EBITDA) is around € 1.2 billion, with return on capital employed (ROCE) more than doubling to above 11 percent. Over 30 investors and analysts took part in the event.

Wacker Chemie AG maintained its dialogue with private investors during the past year, presenting the Group and its markets at various events. For example, we attended the shareholder forum organized by the DSW (German association of small investors) in Munich.