Increase in Wacker Chemie’s preliminary net profit for the year

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(RTTNews) – Wacker Chemie AG (WKCMY.PK), a German multinational chemicals company, announced that its preliminary net profit for the 2021 financial year had increased to 780 million euros from 202 million euros the previous year.

Annual EBITDA or earnings before interest, tax, depreciation and amortization rose to 1.50 billion euros from 666 million euros the previous year. Operational performance was driven not only by higher volumes and prices, but also by cost savings achieved through the Group’s ongoing efficiency program. On the other hand, certain raw material and energy prices were significantly higher, reducing EBITDA by around €500 million.

EBIT or earnings before interest and taxes increased to around 1.09 billion euros from 263 million euros the previous year.

Total revenue for the year was €6.20 billion, up approximately 32% from €4.69 billion the previous year, due to the volume growth and higher selling prices across all business divisions. Currency effects, on the other hand, dampened sales somewhat.

The company announced that it will publish its 2021 annual report on March 15, 2022.

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