Annual Report 2025

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WACKER
at a Glance 2025

Sales

€5.5 billion

2024: €5.7 billion

Sales by region

  • Europe

    40%

  • Asia

    35%

  • The Americas

    19%

  • Other regions

    6%

Sales by business division

  • Silicones

    €2,733 million

  • Polymers

    €1,379 million

  • Biosolutions

    €360 million

  • Polysilicon

    €883 million

EBITDA

€427 million

2024: €743 million

Employees

16,467

2024: 16,637

Capital expenditures

€466 million

2024: €709 million

Research and development expenses

€215 million

2024: €204 million

Active patents

3,400

2024: 3,100

Absolute greenhouse gas emissions (Scopes 1 and 2)

Emissions Chart (graphic)

Base year 2020 = 100%

Target in 2030 = –50%

in million metric tons CO2e

Share of renewable sources in our total energy consumption

34%

2024: 34%

Key indicators 2025

€ million

 

Dec. 31, 2025

 

Dec. 31, 2024

 

Change
in %

Results / return

 

 

 

 

 

 

Sales

 

5,485.3

 

5,721.8

 

-4.1

EBITDA1,2

 

426.7

 

743.6

 

-42.6

EBITDA margin3 (%)

 

7.8

 

13.0

 

n.a.

EBIT2,4

 

-179.7

 

270.9

 

n.a.

EBIT margin3 (%)

 

-3.3

 

4.7

 

n.a.

EBITDA / EBIT includes restructuring expenses

 

-102.6

 

–

 

n.a.

 

 

 

 

 

 

 

Financial result2

 

-398.6

 

-12.5

 

>100

Income before income taxes

 

-578.3

 

258.4

 

n.a.

Net result for the year

 

-804.9

 

260.7

 

n.a.

Earnings per share (basic / diluted) (€)

 

-16.53

 

4.85

 

n.a.

ROCE (%)

 

-3.1

 

5.0

 

n.a.

 

 

 

 

 

 

 

Financial position / cash flow

 

 

 

 

 

 

Total assets

 

8,371.0

 

9,409.9

 

-11.0

Equity

 

3,755.6

 

4,837.0

 

-22.4

Equity ratio (%)

 

44.9

 

51.4

 

n.a.

Liquidity5

 

1,482.9

 

1,256.1

 

18.1

Financing liabilities

 

2,368.6

 

1,946.7

 

21.7

Net financial debt6

 

-885.7

 

-690.6

 

28.3

Capital expenditures7,8

 

465.9

 

709.4

 

-34.3

Depreciation / amortization

 

-606.4

 

-472.7

 

28.3

Net cash flow9

 

-3.6

 

-326.0

 

-98.9

 

 

 

 

 

 

 

Research and development

 

 

 

 

 

 

Research and development expenses

 

214.6

 

203.7

 

5.4

 

 

 

 

 

 

 

Employees

 

 

 

 

 

 

Personnel expenses

 

1,560.8

 

1,579.8

 

-1.2

Employees (number as of Dec. 31)

 

16,467

 

16,637

 

-1.0

1

EBITDA is EBIT before depreciation and amortization.

2

Investments in joint ventures and associates and other investment income reclassified to the financial result (€329.7 million in expenses; previous year €19.2 million in income); EBITDA and EBIT adjusted accordingly. Details can be found under “Changes in accounting policies.”

3

Margins are calculated based on sales.

4

EBIT is the result from continuing operations for the period before interest and other financial result, and income taxes.

5

Securities, fixed-term deposits, cash and cash equivalents.

6

Sum of cash and cash equivalents, noncurrent and current securities, and noncurrent and current financial liabilities.

7

Intangible assets, property, plant and equipment, investment property, excluding right-of-use assets.

8

Due to a change in accounting policy, carbon credits will be reported under intangible assets in the future (amounting to €11.5 million; previous year €43.4 million) and will thus be allocated to capital expenditures. They used to be recognized in inventories. Details can be found under “Changes in accounting policies.”

9

Sum of cash flow from operating activities and cash flow from long-term investing activities (before securities).