Wacker Chemie (WCH) Q3 2026 earnings summary

Executive summary

• Q3 sales were €1,465.7m, up 9.4% YoY; reported EBITDA was €217.2m, including €35m of special income, while operating EBITDA rose 63% to €182m.

• PACE savings, pricing and improved mix supported earnings despite subdued demand; FY EBITDA guidance remains €625m–€750m, with results expected in the upper half.

Financial highlights

• Gross profit was €238m versus €154m YoY; gross margin increased to 16.2% from 11.5%.

• EBIT was €102.8m versus a €20.0m loss; net income was €87m versus a €82m loss, and EPS was €1.68 versus -€1.73.

• Nine-month sales totaled €4,388.9m, up 3.7% YoY; EBITDA was €601.4m versus €345.3m.

• PACE savings exceeded €60m in Q3 and reached €145m year-to-date; FY 2026 savings are expected at ~€200m.

• Q3 net cash flow was €476.4m, including extraordinary cash effects; nine-month net cash flow was €688.0m.

Outlook and guidance

• FY 2026 sales growth is forecast in the mid-single-digit percentage range; EBITDA guidance remains €625m–€750m, with results expected in the upper half.

• FY special income totals ~€70m, including €37m from pension capital-option effects in Q2 and €35m from a Polysilicon contract cancellation in Q3; year-end bonus accruals will weigh on earnings.

• Net financial debt guidance was lowered from ~€500m to ~€200m; FY CapEx is expected at ~€300m and net cash flow to be positive and significantly higher YoY.

• Silicones and Polymers expect mid-single-digit FY sales growth and EBITDA margins above prior-year levels; Biosolutions expects EBITDA of ~€30m.

• Structural ambitions include GDP+ growth, a 15% ±2 percentage-point EBITDA margin and ROCE above 10% and the cost of capital; PACE savings target exceeds €300m in 2028.