Wacker Chemie (WCH) investor relations material

Executive summary

• Q2 2026 sales rose 7% year-over-year to EUR 1.52 billion, with EBITDA before pension effects up 53% to EUR 175 million and reported EBITDA up 85% to EUR 211 million, driven by cost savings, operational improvements, and special effects from pension and Siltronic share sales.

• Net income reached EUR 350 million, including EUR 243 million from Siltronic-related effects, compared to a EUR 19 million loss in Q2 2025.

• The PACE cost savings program contributed EUR 45 million in Q2 and EUR 85 million in H1, targeting over EUR 300 million in savings by 2028.

• Strategic focus remains on specialty chemicals, semiconductor-grade polysilicon, and innovative biotech applications, with ongoing restructuring and workforce reductions in Germany.

• Sustainability efforts were recognized with L'Oréal's Energy Award for CO2 reduction in silicon metal production.

Financial highlights

• Group sales increased to EUR 1.52 billion from EUR 1.41 billion year-over-year; EBITDA before specials at EUR 175 million, up from EUR 114 million.

• Reported EBITDA was EUR 211 million, including a EUR 37 million non-cash pension effect; net income reached EUR 350 million, with EUR 243 million from Siltronic-related effects.

• EPS increased to EUR 6.86 from -EUR 0.49 year-over-year.

• Net cash flow turned positive at EUR 243 million versus -EUR 137 million in Q2 2025.

• Net financial debt reduced to EUR 722 million from EUR 1,139 million year-over-year.

Outlook and guidance

• Full-year EBITDA guidance raised to EUR 625–750 million, reflecting strong Q2 performance and pension effects.

• FY 2026 sales expected to be mid-single-digit percentage higher year-over-year.

• Net financial debt forecasted at approximately EUR 500 million by year-end.

• Capital expenditures for 2026 expected at EUR 300 million, below depreciation, with positive net cash flow expected significantly above 2025.

• Forecast remains subject to high uncertainty due to geopolitical risks and trade policy.