Overall Statement by the Executive Board on Underlying Conditions

In 2024, global economic growth was burdened not only by the ongoing war in Ukraine and geopolitical tensions in the Middle East, but also by persistently high energy prices. WACKER, like the entire chemical industry, was impacted in 2024 by extensive inventory adjustments in the supply chain and by the weak economy still slowing customer order trends. Business was hampered not only by lower volumes – in consumer-related silicones, in construction activities, in fine chemicals and especially in solar-grade polysilicon – but also by lower prices for multiple products.

Adverse underlying conditions dampened WACKER’s performance. In 2024, the company’s sales and earnings were below prior-year figures. This development was driven primarily by much lower volumes and lower prices for polysilicon. In contrast, the chemical divisions Silicones and Polymers achieved sales at the previous year’s level despite headwinds; overall, the divisions exceeded the previous year’s earnings figure. Sales and earnings in Biosolutions were up year over year.

Sales varied from region to region in 2024. They fell in Asia, dropping by 23 percent to €2.11 billion. WACKER’s business in Europe trended downward as well. Sales here fell to €2.21 billion, corresponding to a decline of around 4 percent. Sales in the Americas, on the other hand, rose by around 2 percent to €1.10 billion.