Wacker Chemie nearly increases polysilicon sales, massively elevating its incomes

• German chemical group Wacker Chemie saw its polysilicon sales nearly double in 2021, raising its revenues dramatically amidst greater raw-material and also power expenses, initial economic results revealed.

Wacker's polysilicon company department executed "specifically well" and saw sales nearly double to EUR1.53 billion (US$ 1.71 billion), up from EUR792 million (US$ 885 million) in 2020.

In 2021, Wacker's Polysilicon system "benefited from volume development and also, above all, from noticeably greater prices for solar-grade polysilicon," it stated in a statement.

The division boosted its EBITDA (profits prior to rate of interest, tax obligations, depreciation as well as amortisation) to EUR655 million (US$ 732 million), from just EUR5 million (US$ 5.6 million) in 2020.

" The concentrate on premium polysilicon for semiconductor applications and also further enhancements in manufacturing costs also had a favorable effect on the operating outcome," stated Wacker.

In August last year, Wacker authorized a long-lasting supply agreement with JinkoSolar for approximately 70,000 statistics tons of polysilicon from September 2021 to December 2026.

" Demand continued to be robust throughout the year in most of our consumer industries. We also accomplished substantially higher prices for our items than in 2020, helping us compensate for the solid rise in some raw-material rates," claimed CEO Christian Hartel.

" Demand stays high as we get in 2022, emphasizing the superb growth leads of our service portfolio."

The strong economic outcomes for its polysilicon business will certainly give capitalists a lot more confidence in the unit's longevity after its sales slumped to an all time low in 2020, although recoup was underway in the 2nd half of that year.

Overall, the team's EBITDA got to EUR1.50 billion in 2021, compared to EUR666 million in 2020, with its operating performance raised by greater sales volumes, rates as well as continuous effectiveness steps, Wacker claimed.

Its EBITDA did nonetheless take a EUR500 million hit because of greater raw material and also energy prices.

Provided this, the Munich-based firm's EBIT (revenues before passion and taxes) increased to regarding EUR1.09 billion from EUR263 million in 2020.

Devaluation and also amortisation was available in at around EUR400 million, near the previous year's EUR404 million, while net income reached some EUR780 million in 2021, compared to just EUR202 million in 2020.