WACKER SILICONES

WACKER SILICONES posted a sales decline in 2023, with sales coming in at €2.74 billion (2022: €3.45 billion), down 20.6 percent versus the previous year. The drop was prompted not only by the difficult market environment, but also by lower prices and volumes, and by exchange-rate effects. From a regional perspective, WACKER SILICONES’ sales fell in the Americas, Asia and Europe.

EBITDA decreased markedly year over year. It totaled €236.4 million (2022: €876.4 million), a decline of 73 percent. Factors dampening this operating result included lower prices for standard products, reduced specialty-product volumes, weaker plant-utilization rates and the continued high cost of raw materials. The EBITDA margin was 8.6 percent (2022: 25.4 percent).

As in the previous year, capital expenditures rose again at WACKER SILICONES by 20.8 percent. They totaled €241.4 million (2022: €199.8 million). About half of capital spending targeted sites in Germany, where capacity for specialties grew and integrated production was strengthened. Another investment focus was China, where capacity was expanded both at the Zhangjiagang site and at the SICO Performance Material (Shandong) Co. Ltd. subsidiary. As of December 31, 2023, the division had 6,040 employees (Dec. 31, 2022: 6,019).