Overall Statement by the Executive Board on Underlying Conditions
In 2022, global economic growth was significantly affected by the repercussions of the war in Europe, in particular the extreme increase in energy prices, as well as by rising interest rates and the disruptions to global supply chains caused by government measures to contain the coronavirus pandemic. From the middle of the year onwards, WACKER, like the rest of the chemical industry, felt the effects of an economic slowdown on customer orders. Initially, this was particularly noticeable in the construction industry, but silicones in other segments were impacted toward the end of the year as well. On top of that, domestic demand in China remained below its potential due to pandemic-related restrictions. That resulted in growing import pressure and falling prices outside of China.
Amid these challenging market conditions, WACKER performed exceptionally well, posting new records for both sales and earnings in 2022. All of the company’s business divisions notched up substantially higher sales year over year. EBITDA also rose strongly for WACKER’s polysilicon, silicones and polymers business. Only at WACKER BIOSOLUTIONS was EBITDA down year over year, due to various non-recurring effects.
Sales grew significantly in all regions. Growth was particularly strong in percentage terms in the Americas, where sales grew by 44 percent to €1.29 billion. Sales increased by 40 percent in Asia and by 19 percent in Europe.