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2 clusters · 10 sources · 6 days · First seen · Last updated

Wacker Chemie strategic pivot and restructuring

Overview

Wacker Chemie has initiated a strategic pivot following a decline in polysilicon prices caused by Chinese overcapacity. During a capital markets day in London, CEO Christian Hartel announced the abandonment of previous 2030 growth targets, which included reaching 10 billion euros in revenue and an EBITDA margin exceeding 20 percent.

The company is shifting its focus toward a Return on Capital Employed (ROCE) target of over 10 percent, an EBITDA margin of approximately 15 percent, and growth rates slightly above the global economy. To facilitate this transition, Wacker Chemie is implementing a cost-efficiency program aiming for annual savings of more than 300 million euros by 2028.

As part of its efforts to increase financial flexibility for future investments, the company also reduced its stake in semiconductor wafer manufacturer Siltronic from approximately 21.67 percent to around 15 percent. This transaction, conducted through an accelerated bookbuilding process, is expected to generate gross proceeds of approximately 171 million euros.

Entities

Wacker Chemie · J.P. Morgan · Rothschild & Co · Siltronic · Christian Hartel

Timeline

  1. 2 days ago

    [BUSINESS] 7 sources
    Wacker Chemie reduces Siltronic stake to 15%

    Wacker Chemie has reduced its stake in wafer manufacturer Siltronic from 21.67% to 15% through an accelerated bookbuilding process, raising approximately 171 million euros for future growth.

  2. 7 days ago

    [BUSINESS] 7 sources
    Wacker Chemie abandons 2030 growth targets in strategic pivot

    Wacker Chemie has scrapped its 2030 revenue and margin targets, pivoting to a focus on ROCE of over 10 percent and a 15 percent EBITDA margin due to falling polysilicon prices.

Sources

4investors.de · ad-hoc-news.de · aktiencheck.de · drweb.de · european-biotechnology.com · finanzen.at · finanzen.ch · finanzen.net · finanznachrichten.de · it-boltwise.de