Paint & Coatings Industry - May 2008 - (Page 118)

Wacker Chemie A Profile of Success Fiscal 2007 Sets Record Sales and Earnings Figures for WACKER D r. Peter-Alexander Wacker, President and CEO of Wacker Chemie, AG, Munich, greeted the International Press March 18, 2008, with news of continued growth. WACKER’s 2007 results were the best in its history. International business, accounting for over 80% of Group sales, was the main growth engine last year. Sales growth was particularly strong in Asia, espe- Dr. Wacker cially in China. Asian economies showed solid gains, but GDP growth also continued in Europe and the United States. The main sales and earnings growth drivers were the semiconductor segment and the polysilicon business. Despite higher raw material and energy costs, as well as substantial negative exchange-rate effects from the strong euro, the Munich-based chemical Group generated an EBITDA (earnings before interest, taxes, depreciation and amortization) of WACKER 2007: Net income was €422 million (2006: Є311m) – with earnings per share amounting to €8.49 (2006: €6.46). The Group’s robust financial performance is also reflected in its return on capital employed of 25% (2006: 18%). Fueled by continued strong customer demand, significantly boosted production quantities and higher prices, Group sales rose 13% to €3.78 billion (2006: Є3.34 bn) – of which €3.06 billion (2006: €2.68bn) was generated outside Germany. Thus International business accounted for 81% of Total Sales. In fiscal 2007, net cash flow more than tripled to €644 million (2006: 185m) despite significantly higher investments compared to the prior year. WACKER expects further growth in 2008. This year, sales are estimated to rise by well over 10% due to capacity expansion projects and sales growth resulting from the complete takeover of the Group’s polymer joint ventures with Air Products. EBITDA should also continue its upward trend. €1.002 billion (2006: €786m). This is an increase of 27% compared to the prioryear period. “The figures for last fiscal year are yet more proof of the Group’s operational strength,” said Peter-Alexander Wacker in Munich. “WACKER’s strategic alignment is on the right track. We made huge progress with our expansion projects last year to meet customers’ sustained strong demand. Our production capacity expansion projects and solid presence in Asian growth markets are key prerequisites to continue on our successful course in 2008.” WACKER’s savvy management team continues to drive this company forward, making sound investment decisions for future growth. Total capital expenditures for 2007 grew 33%. In addition to ongoing expansion projects to boost production capacities, sizable funds flowed into joint ventures with Samsung Electronics and SCHOTT Solar. WACKER POLYSILICON continued to expand its capacities for hyperpure polycrystalline silicon to meet soaring demand both from chipmakers and the booming photovoltaics industry. Two ongoing expansions are on schedule at the Burghausen plant and a new facility for granular silicon is under construction. To enhance the photovoltaic supply chain, WACKER set up two joint ventures with SCHOTT to produce and market silicon wafers to the solar industry. At the Burghausen site, Siltronic has now doubled its monthly capacity for 300 mm silicon wafers, and in a joint venture with Samsung Electronics, Siltronic is building a 300-mm production line in Singapore. WACKER SILICONES has also expanded, responding to huge demand for silicone at its site in Germany as well as in China. Joint construction of siloxane production in China with Dow Corning is 118 MAY 2008 | W W W . P C I M A G . C O M http://WWW.PCIMAG.COM

Table of Contents Feed for the Digital Edition of Paint & Coatings Industry - May 2008

Paint & Coatings Industry - May 2008 Contents Viewpoint Industry News Calendar of Events Company News Mergers and Acquisitions Names in the News Charlotte Dining Guide Exhibits-in-Print Waterborne Alkyds Break Through the Performance Barrier New Matting Agents for Waterborne Coatings and Varnishes Silicon-Based Technology for the Coatings Industry High-Performance Microgrinding The Development of New SMA Esters as Pigment Dispersants for Waterborne Coatings and Inks The Right Choice New Coating Technology Expands Color Choices for Vinyl Building Products BioPreferred Federal Biobased Products-Preferred Procurement Program European Union's REACH Regulation Sustainability - The New Nano Improved Dirt Pickup Resistance Critical to Future Coating Innovation NanoNews Protective Coatings NDT - Energy-Saving Paint Static Electricity - The Hidden Danger in Hazardous Areas Wacker Chemie - A Profile of Success Materials Watch Products and Literature Classifieds Advertiser Index

Paint & Coatings Industry - May 2008

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