Wacker Chemie Lifts Full-Year EBITDA Guidance by 10% on Strong Q2 Results

Wacker Chemie AG (ETR:WCH) has raised its full-year profit forecast by approximately 10% at the midpoint after posting second-quarter earnings that surpassed analyst estimates. The German chemical company simultaneously trimmed its annual sales outlook, signaling expectations for improved profitability despite moderating revenue growth.

Second-Quarter Earnings Beat

The company reported second-quarter EBITDA of €211 million, a figure that came in 23% above the market consensus of €172 million. Excluding special pension effects, EBITDA was €174 million, still slightly ahead of expectations. Sales for the quarter totaled €1.518 billion.

Wacker Chemie also saw a significant improvement in its financial position, generating a net cash flow of €243 million, a sharp reversal from a negative €137 million in the same period last year. The company reported that capital expenditure decreased to €59 million from €105 million in the prior-year quarter.

Revised Full-Year Outlook

Looking ahead, Wacker Chemie adjusted its forecast for the full year 2026. While the company now anticipates slower revenue growth, it has lifted its earnings expectations based on strong performance in key segments.

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• EBITDA Guidance: Raised to a new range of €625 million to €750 million, up from the previous €550 million to €700 million.
• Sales Guidance: Lowered to mid-single-digit percentage growth, down from a high-single-digit forecast.

The midpoint of the new EBITDA range is above the current consensus analyst estimate of €659 million. The company noted that its outlook does not account for potential impacts from future changes to polysilicon trade policies.

Divisional Performance Highlights

The revised guidance reflects a varied performance across Wacker's key business segments. The Silicones division was a standout, delivering EBITDA of €123 million on the back of improved pricing and volumes, prompting the company to raise the segment's full-year sales guidance.

In contrast, the Polysilicon division faced headwinds from inventory destocking in the solar industry, recording an EBITDA of €11 million and leading to a reduction in its sales growth forecast. The Polymers segment also saw its sales guidance lowered, though its EBITDA margin outlook was raised, indicating better profitability.