WACKER POLYSILICON

Sales grew at WACKER POLYSILICON by 2.6 percent in 2017, climbing to €1.12 billion (2016: €1.10 billion). The increase was due to higher volumes, despite the fact that average solar-silicon prices declined. Prospects of stronger volume and sales growth were impeded by the loss of production at our site in Charleston (USA). On September 7, 2017, a technical defect led to a hydrogen explosion there, which damaged a plant section. Production had to be shut down. As a result, WACKER POLYSILICON had a shortfall of around 6,000 metric tons in polysilicon volumes available for sale. In the reporting year, Asia was again the key sales region for our products.

EBITDA edged up 1.6 percent to €290.4 million (2016: €285.9 million). This rise mainly stemmed from higher volumes and a decline in production costs. Lower average prices, on the other hand, dampened momentum. In 2017, WACKER POLYSILICON did not have any special income from advance payments retained or damages received. Also, its earnings did not as yet contain any significant insurance compensation arising from the loss of production at Charleston. The EBITDA margin was 25.8 percent (2016: 26.1 percent).

WACKER POLYSILICON’s capital expenditures once again declined significantly. Investment spending fell 55.7 percent to €57.6 million (2016: €130.0 million). The number of employees rose to 2,538 (Dec. 31, 2016: 2,490).