Trends: Equity and Liabilities
€ million |
|
2025 |
|
2024 |
|---|---|---|---|---|
|
|
|
|
|
Equity |
|
3,755.6 |
|
4,837.0 |
Noncurrent provisions |
|
867.6 |
|
965.0 |
Financing liabilities |
|
2,206.8 |
|
1,725.5 |
Other noncurrent liabilities |
|
270.5 |
|
359.6 |
Of which noncurrent advance payments |
|
183.5 |
|
217.8 |
Noncurrent liabilities |
|
3,344.9 |
|
3,050.1 |
Financing liabilities |
|
161.8 |
|
221.2 |
Trade payables |
|
692.3 |
|
851.5 |
Other current provisions and liabilities |
|
416.4 |
|
450.1 |
Current liabilities |
|
1,270.5 |
|
1,522.8 |
Liabilities |
|
4,615.4 |
|
4,572.9 |
Total equity and liabilities |
|
8,371.0 |
|
9,409.9 |
Capital employed |
|
5,743.0 |
|
5,421.6 |
Equity ratio drops to 44.9 percent
Group equity fell year over year and amounted to €3.76 billion as of December 31, 2025 (Dec. 31, 2024: €4.84 billion). The equity ratio came to 44.9 percent (Dec. 31, 2024: 51.4 percent). The consolidated net loss for the year reduced equity by €804.9 million (Dec. 31, 2024: increase of €260.7 million). The dividend payment of Wacker Chemie AG reduced retained earnings by €124.2 million. By contrast, the adjustment of provisions for pensions, which was recognized in other comprehensive income, increased other equity items by €97.1 million. Currency translation, moreover, had a negative impact of €258.9 million on equity. The share of equity attributable to non-controlling interests amounted to €156.2 million (Dec. 31, 2024: €167.8 million).
Liabilities remain constant
WACKER’s liabilities increased by €42.5 million, compared with the previous year, up 0.9 percent to €4.62 billion (Dec. 31, 2024: €4.57 billion). Provisions for pensions fell by €125.8 million year over year and totaled €626.6 million. This is due first and foremost to higher discount rates of 4.27 percent in Germany (Dec. 31, 2024: 3.45 percent). Discount rates in the US were down slightly to 5.24 percent (Dec. 31, 2024: 5.54 percent). Other noncurrent provisions mainly comprised provisions for environmental protection, anniversary provisions, and provisions for phased early retirement and restructuring.
Other noncurrent liabilities came to €270.5 million (Dec. 31, 2024: €359.6 million). They mainly comprised contract liabilities in the shape of advance payments received and noncurrent income tax liabilities. Trade payables fell to €692.3 million (Dec. 31, 2024: €851.5 million). Other current provisions and liabilities fell 7.5 percent to €416.4 million (Dec. 31, 2024: €450.1 million). This can be explained primarily by a drop in liabilities for profit sharing. A current provision that was set up for restructuring had the opposite effect. Current advance payments received amounted to €70.4 million (Dec. 31, 2024: €59.2 million).
Financing liabilities increase
Noncurrent and current financing liabilities increased by €421.9 million to €2.37 billion (Dec. 31, 2024: €1.95 billion). As part of its refinancing measures, WACKER repaid due tranches of a promissory note (German Schuldschein) in the amount of €150 million and issued a new promissory note (German Schuldschein) of €435 million, maturing in 2028, 2030 and 2032. Financing liabilities of €161.8 million falling due in 2026 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, 2025, lease liabilities totaled €323.0 million (Dec. 31, 2024: €330.7 million).
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.