WACKER
on the Capital Market in 2024

Stock market developments in 2024 were impacted by sustained geopolitical tensions between the USA and China, and by the wars in Ukraine and the Middle East. Despite many negative factors, global equity markets generally performed well. All of the major stock market indices reported gains.

Germany’s leading index, the DAX, gained ground in 2024, climbing some 19 percent compared with year-end 2023. German small caps largely missed out on the positive trend on the global stock markets. The MDAX, for example, lost almost 6 percent in the reporting period from January through December.

WACKER share performance in 2024 (indexed to 100)¹

At the start of 2024, WACKER stock stood at €114.30 (year-end closing price on December 29, 2023). After reaching a year-high of €116.70 on April 8, 2024, WACKER stock then declined during the rest of the year. WACKER stock ended trading on December 30, 2024 at €70.04, down 39 percent on the start of the reporting period and corresponding to a market capitalization of around €3.48 billion.

WACKER’s share price reflected the persistently difficult market conditions. The German economy stalled. Many companies with direct sales to end consumers curbed their production in 2024, with the automotive and construction industries, in particular, putting in a weak performance. At our Polysilicon division, lower demand for solar-grade polysilicon impacted business. Ongoing US antidumping investigations into solar-product imports from some Southeast Asian countries continued to unsettle markets.

Dividend proposal of €2.50 per share

WACKER’s dividend policy is to distribute about 50 percent of net income for the year to shareholders. The Executive and Supervisory Boards will therefore propose a dividend of €2.50 per share at the Annual Shareholders’ Meeting. Based on the number of shares entitled to dividends as per December 31, 2024, the cash dividend corresponds to a payout of €124.2 million.

Market capitalization (as of December 31, 2024)

WACKER’s year-end market capitalization based on shares outstanding was €3.48 billion (December 31, 2023: €5.68 billion).

Trading volume

In the reporting year, the average daily trading volume for WACKER stock on Xetra, Germany’s regional exchanges, Tradegate and Quotrix was approximately 131,262 shares, which was slightly below the prior-year figure of 138,859 shares. Average daily turnover for the shares was €12.41 million, down year over year (2023: €18.3 million).

Shareholder structure

Wacker Chemie AG’s largest shareholder remains Dr. Alexander Wacker Familien­gesellschaft mbH, Munich. It holds over 50 percent of the voting shares in Wacker Chemie AG (2023: over 50 percent). Blue Elephant Holding GmbH (Bad Wiessee, Germany) also had no voting-share changes to report in 2024, with its holding in Wacker Chemie AG remaining at over 10 percent.

Shareholder structure

WACKER communicates closely with capital markets

Key elements of corporate strategy are sustainability and a focus on specialty chemicals. These priorities are reinforced through continuous and open commu­ni­cation with institutional investors, private investors and analysts.

At our Capital Markets Day on September 19, 2024, we confirmed our strategic growth and sustainability targets communicated in 2022. WACKER is aiming, by 2030, to generate sales of €10 billion and an EBITDA margin in excess of 20 percent. Also by 2030, absolute CO₂ emissions will be reduced by more than 50 percent as against the 2020 baseline. We will be focused more on improving our margins than on volume growth. This means intensifying investments in efficiency measures and in expanding our portfolio of specialty products.

In 2024, the number of analysts covering WACKER remained unchanged at 18. The consensus price target of analysts for WACKER stock declined during the year. At the beginning of the year, the average price target for WACKER stock was €145.56 (18 estimates, December 2023). At year-end, the average price was €113.72 (18 estimates), about 22 percent lower than at the beginning of the year.

Banks and investment firms covering and rating WACKER

On our website, we regularly report consensus analyst expectations for the current year. Moreover, our website offers extensive information on WACKER stock. In addition to the Annual Report, other financial reports, a Fact Book, presentations and publications (viewable online or downloadable), our website lists all our key financial-calendar dates and contact persons.

Discover our Financial Calendar online.