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Wacker Reports Improved Results on Strong Demand and Higher Prices
5:59 AM MDT | May 4, 2011 | Natasha Alperowicz
Wacker Chemie reported strong first quarter results with sales and earnings recording significant gains. Ebitda in first quarter 2011 rose 38% to €351 million ($518.8 million) on 21% higher sales at €1.292 billion. Ebitda margin rose to 27.2% compared to 23.8% in the corresponding period of last year. Net income reached €168 million, yielding earnings/share of €3.39, compared to €2.15 in the corresponding period of 2010. Wacker says the improved results were mainly due to higher sales volumes, positive market environment and high customer...
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