WACKER Communicates Closely with Capital Markets

Key elements of the corporate strategy include achieving organic growth, investing in promising markets and reducing capital intensity across all segments. These priorities are reinforced through continuous and open communication with institutional and private investors and with analysts. On many occasions, Executive Board members attended events to answer questions from capital-market participants. There were 22 roadshows with a total of 27 roadshow days in Germany, Europe, the USA and Asia. About 700 meetings were held in total, both in person and by telephone. WACKER also participated in international conferences and gave presentations at events in 2018, including the following:


Commerzbank German Investment Seminar in New York		Warburg Highlights 2018 in Hamburg
Oddo Forum in Lyon		Jefferies Global Industrials Conference in New York
Kepler Cheuvreux GCC 2019 in Frankfurt am Main		Berenberg & GS German Corporate Conference in Munich
Mainfirst Corporate Conference in Copenhagen		Baader Investment Conference in Munich
BHL Deutschlandkonferenz in Baden-Baden		Bernstein’s Annual SDC in London
Morgan Stanley Chemical Day in London		Morgan Stanley Global Chemicals and Agriculture Conference in Boston
dbAccess Berlin Conference in Berlin		Berenberg European Corporate Conference in London
Credit Suisse Global Chemicals and Agriculture Conference in London		Credit Suisse European Corporate Conference in London
JPM Materials Conference in London		BofAML European Chemicals Conference in London

The number of analysts covering WACKER in 2018 was 20 (2017: 20). During the year, analysts’ consensus price target for WACKER stock fell. In Q1, the average price target for WACKER stock was €155 (19 estimates). At year-end 2018, though, analysts set their fair-value price target at €106 on average (19 estimates), roughly one-third lower than at the start of the year.