Improved Customer Demand Lifts Wacker's First-Quarter Earnings

Wacker Chemie sales and earnings rose in the first quarter because of “strong customer demand.” First quarter net income was €105.9 million, compared to earnings of €5.5 million in the year-ago period. Sales climbed 22%, to €1.1 billion mainly because of volume growth, Wacker says. Sales growth was partially offset by lower selling prices and unfavorable currency exchange rates. Ebitda soared 61%, to €253.7 million, and the Ebitda margin reached 23.8%, the first time since 2008 crossed the 20-percent threshold, Wacker says. Ebit...

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