Trends: Equity and Liabilities

Equity ratio almost constant at 51.4 percent

Group equity increased year over year and amounted to €4.84 billion as of December 31, 2024 (Dec. 31, 2023: €4.58 billion). At 51.4 percent, the equity ratio remained virtually constant (Dec. 31, 2023: 51.7 percent). The net profit for the year increased equity by €260.7 million (Dec. 31, 2023: €327.3 million). By contrast, the dividend payment of Wacker Chemie AG reduced retained earnings by €149.0 million. The adjustment of provisions for pensions, which was recognized in other comprehensive income, increased other equity items by €98.5 million. Currency translation, moreover, had a positive impact of €71.3 million on equity. The share of equity attributable to non-controlling interests amounted to €167.8 million as of the reporting date (Dec. 31, 2023: €163.1 million).

Increase in debt due to new loans

WACKER’s liabilities increased by €298.4 million compared with the previous year, up 7.0 percent to €4.57 billion (Dec. 31, 2023: €4.27 billion). Provisions for pensions fell by €82.5 million year over year and totaled €752.4 million. This is due first and foremost to higher discount rates of 3.45 percent in Germany (Dec. 31, 2023: 3.30 percent) and 5.54 percent in the USA (Dec. 31, 2023: 4.78 percent). Other noncurrent provisions mainly comprised anniversary provisions, and provisions for environmental protection and phased early retirement.

Other noncurrent liabilities came to €359.6 million (Dec. 31, 2023: €370.4 million). They mainly comprised contract liabilities in the shape of advance payments received and noncurrent income tax liabilities. Trade payables fell slightly to €851.5 million (Dec. 31, 2023: €878.9 million). Other current provisions and liabilities fell 3.5 percent to €450.1 million (Dec. 31, 2023: €466.6 million), largely due to the utilization of a provision for contingent losses that had been set up in the previous year for sales agreements. Current advance payments received amounted to €59.2 million as of the reporting date (Dec. 31, 2023: €82.3 million).

Financing liabilities increase

Noncurrent and current financing liabilities increased by €441.1 million to €1.95 billion as of the reporting date (Dec. 31, 2023: €1.51 billion). As part of its refinancing measures, WACKER repaid due tranches of a promissory note (German Schuldschein) from 2020 in the amount of €226 million and issued a new promissory note (German Schuldschein) of €400 million, half of which will mature in 2029 and the other half in 2031. The loan of €150 million agreed with the European Investment Bank (EIB) at the end of 2023, the term of which will run until 2030, was drawn down by WACKER in 2024. Financing liabilities of some €150 million falling due in 2025 were reclassified as current. Financing liabilities are mostly denominated in euros. Fixed interest is payable on the majority of the financing liabilities.

As of December 31, 2024, lease liabilities totaled €330.7 million (December 31, 2023: €242.1 million). The increase is attributable to the new Wacker Chemie AG headquarters in Munich, which it moved into in 2024.

For further information on our financing liabilities, please refer to Note 15 in the Notes to the consolidated financial statements. For further information on financial management and its goals, please refer to Note 20 in the Notes to the consolidated financial statements.